Brand Chorus Launches the StoryScore Index: a New Measure of Social Media Effectiveness
(ADOTAS) New York, NY – August 4, 2014 – Most brands today define the effectiveness of their social media programs using measures of popularity – likes, comments, shares, retweets, etc. While popularity is an important measure, it’s not an indication of how well social media drives brand equity. That’s why Brand Chorus, the social business intelligence practice of brand consultancy, TippingGardner, has launched StoryScoreTM (http://www.storyscore.com) a new tool to measure how well a brand’s social media narrative aligns with their broader brand strategy.
“Brand strategy is not a popularity contest,” says Martyn Tipping, CEO, Brand Chorus. “Piano-playing cats and questions like ‘what’s your favorite movie?’ boost engagement scores, but do nothing to build brand equity. By focusing on short-term, one-off hits, brands are missing the opportunity to drive their brand story and create a compelling narrative on social media.”
StoryScore is a new key performance indicator (a number between 1-100) that allows brands to quantify how effectively they are using social media to drive brand equity and further their social brand narrative. It is calculated using a state-of-the-art social monitoring platform combined with a proprietary algorithm and human intelligence. A StoryScore diagnostic report covers:
- What’s working/not working with recent social media content
- Opportunities to improve content and align it with brand equity
- Strategies to drive a higher StoryScore
A Vice President of Digital Strategy from a Fortune 100 company participating in beta testing of StoryScore said, “The product is brilliant in its clarity and simplicity with super-actionable insights.”
Brands can also use the tool to compare their performance with competitors. “By incorporating StoryScore into existing social media dashboards, brands now can ensure that they are using social media for maximum competitive advantage,” adds Tipping.
Recently, Brand Chorus performed a StoryScore analysis for the ten leading supermarket brands revealing that very few grocers are building a compelling brand narrative on social media (see chart).
About Brand Chorus
Brand Chorus (www.brandchorus.com) is a division of brand consultancy, TippingGardner. Brand Chorus brings together world-class branding expertise with best-in-class social media intelligence that is powered by StoryScore and one of the most robust SaaS social media monitoring platforms that tracks and captures conversations from over 150 million sources including Facebook, Twitter, Tumblr, YouTube, Instagram, Amazon, Google+, LinkedIn.
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