Professional Evaluation and Research (PEAR), a South African-based media monitoring, research, and analysis organisation, is set to take the global market by storm with an innovative way of measuring the value of social media postings.
Built using mathematically sound and academically proven algorithms, the tool enables individuals and brands to view, in real-time, how much an update to a social network is worth. The concept is similar to the advertising value equivalent (AVE) metric used by agencies across the world but is built on a unique methodology specifically geared for social media.
This factors in such elements as reach, influence, and trust. PEAR aims to give people the ability to quickly and conveniently see the monetary value of any updates posted, irrespective of platform.
“The impact social networking has had on individuals and brands the world over has been nothing short of phenomenal. Unfortunately, the biggest stumbling block for communications professionals and companies have been to understand the financial value of these engagements,” says Jaco Pienaar, Chief Knowledge Officer at PEAR.
Even though many companies understand the benefits of social media, when it comes time for budget discussions, decision-makers have very little to use as motivation for increased digital spend. Traditionally, online advertising has benefited from this as the metrics for value are easily shown through AVEs while that of social media updates have been more difficult.
“Justifying resources on social media campaigns have just gotten a whole lot easier thanks to PEAR. Now, an agency can reliably inform their clients how much a Tweet, Instagram post, or the like is worth when a brand is mentioned. And because the values are determined by global financial markets, users always get a true reflection of the real-time monetary value of their social media AVEs,” says Pienaar.
In addition to benefitting agencies and corporate clients, the PEAR offering gives influencers themselves significant bargaining power when it comes to brand ambassador roles.
“A blogger or avid Twitter user now has a way to pitch his or her services to agencies or brands using a world-class social media valuation system that is unique in the market today. We anticipate that this will change the way social media is done and how brand campaigns are developed going forward,” concludes Pienaar.
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Source: Port Elizabeth – MyPR.
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