Engagement Labs Enriches eValue Social Media Marketing Scoring Tool
eValue’s New Features and Enhancements Will Expand Data Insights to Help Advertisers, Agencies, and Publishers Drive Social Media ROI
TORONTO, ONTARIO – May 12, 2015 – Technology and data company Engagement Labs (TSX VENTURE:EL), creator of the eValue™ scoring tool, today announces a major update to their social media scoring tool. These enhancements will enable marketers, agencies, and publishers to better leverage the eValue tool to measure their overarching social media strategy and help determine whether their tactics are reaching and engaging their audience.
Engagement Labs’ Founder’s Steering Committee, which is mandated to work with the Company’s executive leadership and its data scientists with a view to assessing, validating, adjusting and steering the metrics used in the complex algorithm that derives the eValue scoring matrix, has been a significant contributor to the development of this update.
“Social media marketing is an evolving market and our team at Engagement Labs is continuously evaluating the eValue analytics tool to better reflect the needs of the industry,” said Bryan Segal, CEO of Engagement Labs. “Companies across the globe are increasing their use of social media to promote their brands and connect with their audiences on a deeper level, all with the goal of increasing brand awareness, boosting customer loyalty and acquisition, gaining greater customer support, and driving revenues. The eValue tool enables companies to measure their social channels against a benchmark and ensure their social strategy is driving and delivering results.
Providing the highest-quality scores:
According to eMarketer, worldwide social media advertising spend increased 45.3% from 2013 to 2014. eValue provides a global benchmark for social media scoring, allowing brands to measure their social and digital media efforts, benchmarked against 75,000+ brands. The eValue tool gives brands a score between 0-100. Scores are based on over 320 metrics and key performance indicators (KPI’s) – which include Impact, Responsiveness and Engagement – across various social media channels including, Twitter, Facebook, YouTube, and now Instagram.
Expanding the eValue tool to incorporate Instagram:
Function on the eValue tool has been further expanded to include Instagram. Instagram is becoming an increasingly more important social networking tool for brands, especially for brands looking to target younger demographics.
“Engagement Labs is dedicated to providing marketers with the tools they need to ensure their social marketing budgets are being spent on strategies and tactics that are contributing the most value. As social networks evolve, we are ensuring that our tool remains relevant for marketers,” said Segal. “The market has been asking for a tool like eValue and as marketers move forward with the incorporation of Instagram into their social properties, we are expanding our offerings to meet their needs.”
Impact score focuses on measuring the quality of target audience:
The eValue Impact score measures the reach of content on a specific social network. New updates to the tool have been made to better fit marketers’ expectations, expanding beyond potential impressions and now measuring how many unique users may have seen your posts, content or messaging. This update will allow marketers to better understand and measure the quality of the audience they are targeting and determine if they are buying the right media for their specific program objectives.
Emphasizing brand effort in Responsiveness score:
Previously in eValue, Responsiveness was measured equally by the rate, speed and quality of responses to fans and followers. New updates to the tool will change the way brands are rewarded on their community interaction strategy. More weight will now be given to the response rate, which measures the effort that brands put towards responding to fans day-to-day. This will ensure that brands that are actively responding to their fans and followers are scoring higher on their Responsiveness score.
“As marketers continue to ramp up their social media strategy and put increasingly more of their annual budgets towards social and digital media efforts, it is imperative that they invest in industry currency tools as a way to benchmark their investment,” noted Segal. “Engagement Labs will continue to evolve the eValue tool to remain at the forefront of social media measurement.”
About Engagement Labs
Engagement Labs’ eValue™ Score is the global benchmark for social media scoring. eValue Analytics Pro, an enterprise-grade social media analytics platform, scores brands between 0-100. eValue measures brands’ social media and digital marketing efforts. It’s composed of a series of metrics and key performance indicators (KPIs), including Engagement, Responsiveness and Impact, which is benchmarked against 75,000+ handpicked and verified brands.
The eValue score is composed of Engagement, Impact and Responsiveness metrics. Engagement is the level of interaction content receives on a specific social network, Impact is the unique reach content receives on a specific social network, and Responsiveness measures how much, how fast and how well a brand responds to actual conversations amongst its users.
Engagement Labs (TSX VENTURE:EL) offers intelligent social data, analytics and insights for organizations that are actively engaging on social networks. Offered as a SaaS or through an API, the eValue™ analytics platform allows brands to measure and maximize the effectiveness of their social media marketing campaigns, as well as measure that of their competitors across major social networks Facebook, Twitter, YouTube and Instagram. Engagement Labs maintains offices in Montreal, Toronto, Paris and New York. www.engagementlabs.com / www.evaluesuite.com