LONDON--A new measurement system from social media consultancy Sociagility demonstrates a significant correlation between a brand’s social media footprint, and its value and growth.
The ‘PRINT’ methodology measures five key attributes of social media performance – popularity, receptiveness, interaction, network reach and trust – across multiple social platforms and channels, including Twitter and Facebook, using relevant metrics for each.
Sociagility, launched earlier this year by ex-H&K executives Tony Burgess-Webb and Niall Cook, is hoping to develop the tool as a key performance indicator (KPI) for marketers and social media strategists.
Comparing data from Millward Brown and Interbrand brand studies, the firm found its own PRINT Index scores correlated with a 95 to 99 percent degree of confidence. The PRINT Index enters a highly competitive field that features products such as Klout, PeerIndex and the Dachis Social Business Index.
"A social media KPI which links to brand value is something of a 'holy grail' for modern marketers", says Jeffrey Merrihue, CEO of Mofilm and former global head of marketing at Accenture and European head of marketing for Kellogg's. "PRINT is a great step forward in understanding the real return on investment from social media."
The system generates ten separate scores for each brand, along with an ultimate single performance number that is defined by comparison to competitors, or brand, sector and geographical benchmarks.