IPG Mediabrands uses programmatic to measure social media ROI
Pushing forward its commitment towards programmatic, IPG Mediabrands has set up Performly, a software and services platform that gives marketers the ability to measure social media ROI (return on investment) in terms of hard currency.
Performly programmatically values a brand’s social media activities by examining all brand-sponsored Facebook and Twitter activity. It measures the earned media inspired by the activity, calculates the value of that earned media against both the marketer’s paid media pricing as well as industry benchmarks, and aggregates the overall value into a currency dashboard.
“For years, marketers have questioned the financial impact of their social media efforts, and management teams have struggled to prove the true value of a ‘like’ or a ‘retweet’. Equally puzzling has been the impact of social media 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,” says Eric Weaver, Chief Social Officer for Mediabrands’ G14 cluster.
Performly will help social teams to manage social content based on audience interest and fiscal value. Its features include a daily dashboard that shows aggregated earned media value by page, by country or by region, comparison of paid to organic activity, month-by-month trending of earned media value, engagement vs. acquisition vs. 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.
Performly will also empower social marketers with a more meaningful voice in budget discussions, by establishing a financial basis for social media performance goal-setting. It will help in simplifying KPI development for enterprise social media teams, creating performance reports to compare and optimise the efficiency of content (and social teams) by product, country and region. It will also enable delivering a reward system for content marketing based on earned media value and identifying cost-cutting potential in global content marketing efforts.
“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,” said Mr Weaver.
