NEW YORK—Peppercom has launched Business Outcomes, a proprietary measurement tool that uses a flexible algorithmic scoring system to evaluate the effectiveness of PR, marketing and sales initiatives. The firm claims its new offering “solves an age-old problem by providing quantitative validation of qualitative public relations and marketing results.”
Business Outcomes can be leveraged as a tracking and competitive analysis tool, as well as a prescriptive strategy aid to enhance or change marketing programs based on specific program performances.
The product was developed in partnership with Goodmind, a market research and data analysis firm based in New York City and has been successfully beta tested and implemented by two Fortune 50 companies, Peppercom says.
According to Ed Moed, managing partner and co-founder of Peppercom, “In the past, public relations measurement tools have been too time consuming, overly complex, and prohibitively expensive. Business Outcomes was developed to overcome the limitations of existing measurement systems.
“In the past, measurement tools used within the public relations industry have been extremely unruly, complexand complex, and extremely, and expensive. We created Business Outcomes to provide our clients with a straightforward and inexpensive means to measure qualitative and quantitative criteria across not only PR, but marketing and sales initiatives as well. By implementing Business Outcomes in our programs, we also make ourselves accountable to clients as well.”
The client and Business Outcomes team work together to determine the criteria to be measured and assign a relative importance to them. Once this step is complete, media placements are gathered, numbered and analyzed by a trained specialist using a precise system that assigns “points” for target words, expressions, placement and context. Afterwards, data is run through a proprietary algorithm, resulting in a few simple numbers (scores) that help clients substantiate the overall effectiveness of a campaign and identify areas for improvement.
These results are then benchmarked quarter-to-quarter to measure the overall impact of the public relations campaign and to tweak certain strategies and tactics within the program as needed.
Business Outcomes can also be used as a competitive intelligence tool. For numerous Peppercom clients, the tool is leveraged to closely follow, track and score media results (measuring the exact same criteria) for the most important competitors.