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Two ex-Hill & Knowlton executives have launched PRINT, a new measurement system that aims to show significant correlation between social media footprint and value & growth.
Similar to the likes of Klout, PeerIndex and Kred from PeopleBrowsr, the PRINT methodology measures five key attributes of social media ‘performance’: popularity, receptiveness, interaction, network reach and trust.
Like the others, it does this across multiple social platforms and channels simultaneously, including Twitter and Facebook, applying relevant metrics for each. The company says the result of this provides direct competitor analysis and delivers specific, actionable insights into areas for improvement.
This analysis can be delivered in two ways; via the PRINT Index or a PRINT report.
The PRINT Index provides a single number that shows overall performance in the context of a defined set of competitors, as well as sectors and geographical benchmarks.
Ahead of launch, parent company Sociagility compared data from recognised brand studies by Millward Brown and Interbrand alongside its own PRINT Index scores. The company says that this showed, "significant correlation between social media performance and brand value and brand growth with a 95% to 99% degree of confidence".
Therefore, the PRINT Index score could be used as a key performance indicator, tracking social media performance as well as helping to set targets and goals.
PRINT reports on the other hand can be delivered as one-off snapshots (priced at £950) or continuous tracking studies. Each assessment is bespoke and provides comparative PRINT Index scores for a specific set of competitors as chosen by each customer.
None of the services currently on the market are able to provide an absolute measure influence or success in the social media space. There are too many additional aspects that need to be factored in by hand. But, there are positives to some solutions in terms of providing some indication of where to focus your effort when creating a social strategy.
The bespoke nature of PRINT’s reports, and the context with which it attributes 'success' make this one of the more robust options out there. Time will tell whether customers see the same potential.