IPG's Mediabrands has launched what it calls "a breakthrough software and services platform" called Performly, designed to assess the financial impact of social media activity.
Performly programmatically values a brand's social media activities by examining all brand-sponsored Facebook and Twitter activity.
IPG claims Performly marks the first time a media network, with a legacy of expertise in traditional (paid media), has attempted to apply the same hard return on investment metrics to earned media space.
It measures the earned media inspired by the activity, calculates the value of that earned media against both the client’s paid media pricing as well as industry benchmarks, and aggregates the overall value into a currency dashboard.
Eric Weaver, chief social officer for Mediabrands’ G14 cluster, said: "For years, marketers have questioned the financial impact of their social efforts, and management teams have struggled to prove the true value of a ‘like’ or a ‘re-tweet’.
"Equally puzzling has been the impact of social in the overall marketing mix. Performly answers all of these questions, by showing the financial payoff of social programmes and allowing social to be measured in comparison to other traditional media channels."
Performly features include: a daily dashboard that shows aggregated earned media value by page, by country or by region; comparisons of paid to organic activity; month-by-month trending of earned media value; engagement versus acquisition versus exposure figures; and growth and abandonment rates against benchmarks.
In addition to the dashboard, Mediabrands’ social teams will provide both monthly management reporting and expert counsel around paid social and content optimisation, as part of a Performly subscription.
Weaver said: "Finally, our clients can tell their management teams the real financial impact of their social media programmes.
"This is becoming increasingly important, as content proliferates and organic reach continues to drop, giving marketers an even greater need to prove which content and approach really works."
IPG is home to UM, Initiative, BPN, ORION Holdings, ID Media and its roster of specialty service agencies including MAGNA GLOBAL, Mediabrands Audience Platform (Cadreon, Reprise Media, Ansible, Spring Creek Group), Mediabrands Publishing, the IPG Media Lab, Ensemble, and Identity.
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