There are several metrics that can be used to measure the cost-benefit analysis of any technology platform. While companies can spend time understanding things like Total Cost of Ownership or metrics that they’ve created specific to their sector, the number that provides the most insight is ROI (Return on Investment). It should be the goal of any organization to achieve a return as quickly and efficiently as possible on any technology platform they’ve implemented.
It’s particularly important for communications professionals to measure ROI so that they can continue to get a seat at the table, get the credit they deserve, and secure a budget for future initiatives. Because of this, knowing how earned, owned and newswire content drives actual business outcomes has become a necessity rather than a luxury.
Sometimes that’s easier said than done. Many of the most successful communications teams leverage a data science company in order to do the job of connecting content with business outcomes. In order to help companies to objectively compare media monitoring and PR analytics software, G2 Crowd (the leading independent business software review company) recently compiled a comparison report based on real customer reviews.
Based on the report findings, Onclusive is proud to announce that we are leading the industry with an average time to ROI within 14 months, and 72% of our customers see ROI in 12 months or less. The companies cited within the report also mentioned tangible financial benefits around demonstrating outcomes when it comes to media coverage.
Naturally, any business considering a media monitoring and PR analytics solution will wonder how the companies in the report achieved such a remarkable ROI, and so quickly. There are some themes across Onclusive customers that we will share here.
Generally speaking, these organizations use the data provided by their media measurement software to develop more effective communications strategies, focus on the right stories, authors and media outlets, and optimize their messaging. Going one step further, the Onclusive platform also enables PR professionals to measure which content directly impacts the customer journey and key business outcomes through PR Attribution™.
From there, ROI can snowball because other departments within an organization can also tap into PR analytics data to help them be more effective. In fact, many Onclusive customers share PR data with their colleagues in marketing, product and other functional areas, and 92% of our users agree that Onclusive’s platform promotes team collaboration.
The most reliable and scalable impact measurement tool in the communications industry today is PR Attribution™, a proprietary Onclusive methodology that allows you to measure how many times people, after having read a piece of content about your brand, eventually visit your website and which actions they take – including pages visited, content downloaded, sign-ups, and sales – even if there is no backlink in the article.
As a result, 89% of Onclusive customers say that they are able to link their PR strategies with business impact. For example, Airbnb and 23andMe demonstrated the bottom-line impact of their joint 2019 “Heritage Travel” campaign by using Onclusive to accurately measure 2,200+ total website visits, as well as almost 3,000 searches and accommodation bookings for Airbnb and DNA testing kit orders for 23andMe, driven by the campaign.
If you’re considering a new data science company to help monitor and maximize your company’s media efforts, we have summarized the full G2 Crowd report based on user satisfaction ratings. Download the report here, or consider requesting a demo to gain a better understanding of what Onclusive can do for you.