The Talkability Index brings business metrics to the fore, measuring the real power of brand conversations and earned media.
Razor PR, the globally award winning strategic communications company of the M&C Saatchi Group today announced the launch of its proprietary Talkability Index, a world-first measurement tool that rebases measurement in earned media by tying its effectiveness to real businesses metrics.
“For some time now, PR has grappled with the measurement of its work. It’s become common language to talk to abandoning vanity metrics like AVE but little has been done to replace this with benchmarks that are linked to defined data points and that can be measured repeatedly over time,” said Razor partner and managing director, Dustin Chick.
The Talkability Index is a precision conversation measurement tool which provides marketers and communicators with C-suite level benchmarking of conversational performance in relation to business impact in real time.
Built in-house by the Razor data and analytics team, the revolutionary index was developed in response to the consistent need by companies for more relevant strategic measurement of the efficacy of their PR and communications programmes. Pulling data from a variety data points into a benchmarked algorithm that defines success against four pillars: Conversation, Opinion and Endorsement and an overall Talkability Score.
“This allows us to plan across the communications horizons: In advance of our work, in real-time to allow nimbleness in our work, and looking back to create benchmarks. The Talkability Index changes PR agency dynamics like never before, it puts executive decision informing power firmly in the hands of brand and communications leaders in the boardroom, arming them with clearcut indications of the business impact of their marketing, brand and communications investment,” said Vikash Gajjar, strategy director at Razor PR.
He explains further: “At Razor we have always made the promise that our work must be measurable and effective. When we talk of measurability it must impact a business result and this solution is about our promise to bring that to light.” The agency authentically wanted to empower itself and its clients to demonstrate the impact of the work that is done with huge commitment from both partners.
“For far too long, the communications function has focused on vanity metrics such as AVEs. Globally the industry has attempted to shift away from this with varied levels of success, committing to the Barcelona Principles as far back as 2010. While this has evolved into a third iteration today – PR still needs to deliver on that one magic element organisations need … measurable business results,” added Gajjar.
“It's exactly that. When we talk of AVEs, we are in effect saying that advertising is a better measurement of communications performance. We wanted to challenge this measurement construct and focus our impact assessments where they really belong,” said Chick.
Adding to the conversation, Robert Grace, founding partner: head of Strategy at M&C Saatchi Group South Africa shared that the launch of the Talkability Index is a significant part of the group as a whole becoming more data fluent across its operating disciplines.
“Razor is playing a significant part in this space, both with our clients and across our creative companies. What is incredibly strong about the Talkability Index is how it goes meaningfully beyond data in applying insights – the team has pulled the world of data fluency together into one powerful tool that clients can use in their executive decision making,” he said.
“Understanding, measuring and influencing what people say about your business is fundamental to your ability to operate and grow. Our role is to help you proactively (and sometimes reactively) shape and then measure the visibility of your business by building trust, authenticity and consistency in your communications through powerful conversations,” said Grace.
The Talkability Index catapults corporate communications and brand building into the era of measured transparency. “Now you can measure up, literally – measuring your communications and brand impact at an entirely new dimension – and that is why we at Razor are thrilled to welcome you to the future of strategic conversations,” concludes Gajjar.