May 30, 2012
The actual value of social media has never been more important to understand as well as quantify and consumer WOM is a key component of social influence. Using Keller Fay’s TalkTrack data, MarketShare has tested the impact of WOM in the automotive, financial services and technology industries and found clear and quantifiable links to financial benefits. MarketShare will further expand the use of these insights to improve measurement of earned media on the consumer path to purchase across many industry sectors. TalkTrack is a daily brand WOM behavior survey that measures consumer conversations that occur both offline and online in 15 industry categories across a representative sample of the U.S. population.
“We have made great strides in cracking the code on social media ROI. As earned media becomes even more integral to marketers of all types, we continue to incorporate new streams of data and enhance our cross-media analytics to provide a 360 degree view of all business drivers,” said Ivan Markman, chief operating officer, MarketShare. “We are pleased to work with Keller Fay, the industry standard for offline word of mouth measurement. TalkTrack integration will add an important dimension to our solutions.”
“We believe MarketShare has developed a very sophisticated approach to measuring the effectiveness of marketing. We are very pleased they have selected TalkTrack to deliver additional insights to their customers on the value and the role of word-of-mouth measurement,” said Brad Fay, chief operating officer, Keller Fay. “Offline WOM still represents approximately 90 percent of total conversations about brands, and one in four of these conversations can be linked back to paid-advertising.”
Highlighting this strategic partnership, today at the Wharton conference, Marc Vermut, vice president, Strategy, MarketShare and Brad Fay, chief operating officer, Keller Fay, will present findings from a cross-media meta study during a session titled “Quantifying the Role of Social Voice – Both Online and Offline – in Marketing Effectiveness.” The presentation will focus on two observations:
- The impact that online and offline social “voice” have on consumer search behavior
- How social voice acts as an amplifier of marketing spending
The study quantifies the impact that “Social Voice” has along the consumer path to purchase, including amplification of marketing impact, driving organic online search, and ultimately driving business outcomes. MarketShare’s past experience, together with this study show the material impact WOM has, and the need for marketers to include it in their measurement activities to ensure true attribution and marketing plan optimization.
MarketShare is an analytics company that enables businesses to grow efficiently by uncovering which actions really drive results. Founded in 2005, MarketShare has a track record of ground-breaking innovations in data, modeling and software and has worked with over half of the Fortune 50. MarketShare's platform provides a combination of technology, data, modeling and business intelligence solutions that lead to improved decision-making, attribution and optimization for businesses. The company is headquartered in Los Angeles, with offices in San Francisco, New York, London, Tokyo and Bangalore. MarketShare is a portfolio company of Elevation Partners, a $1.9 billion private equity firm that makes large-scale investments in market leading consumer and technology businesses. For more information, please go to: http://www.marketshare.com; follow us on Twitter @marketshareco.
About Keller Fay
The Keller Fay Group is the first full-service market research company focused exclusively on word of mouth (WOM) and brand advocacy. The firm’s founders, Ed Keller and Brad Fay are authors of The Face -to- Face Book, “a celebration of the supremely social nature of all human beings and how that drives the consumer marketplace.” Launched in the US in 2006 and the UK in 2011, Keller Fay’s TalkTrack program is the only continuous study of WOM in all channels (online and offline) designed to closely monitor and measure the marketing-relevant attributes of actual consumer conversations. TalkTrack is sponsored by leading agencies, brands and media organizations.
Contact for MarketShare: David Head - email@example.com
Contact for Keller Fay: Brad Fay - firstname.lastname@example.org