We recently introduced the concept of a Brand Value Index (BVI) — a composite index media companies can use to assess the relative value of their social entertainment sites powered by the Cisco Eos platform. (Read the blog entry here.)
As I noted, a singular number like the BVI can help provide context at a portfolio level, but it doesn’t provide a lot of prescriptive power on what I should do to improve or optimize a particular site experience. For that kind of insight, we need more data points and the ability to compare individual factors to comparative benchmarks.
We can achieve both of these by standardizing each of the 11 variables in the BVI on a common scale, and displaying them on a radar plot like the attached. (For those that are interested, this graph has also been normalized on a scale from 0-6, where the average across all sites is always a “3” and “0” is the absence of a particular factor).
Remember Site A and Site B from the previous post? The question I posed about was: would you invest your limited resources in Site A, an over performer in the portfolio, or Site B, an under performer? Without more context, you can’t make a good decision one way or the other.
To help you answer this question, let’s look at each site’s situation and BVI footprint for context: Read More »
Tags: brand value index, bvi, cisco eos, engagement, social entertainment, social media
One of the benefits media companies enjoy from using an integrated platform like Cisco Eos to deliver their social entertainment experiences is having a singular data view on how audiences are interacting with and around their branded content. This data can be extremely valuable in helping enhance or optimize the value of the content experiences for both the consumer and the business — or, it can be just another distraction.
As an ex-data wonk (and now a marketer trying to leverage a multitude of measurement systems), I know that more data is not always more useful. With the overwhelming amounts of data available from your online channels, the more rare asset is actionable insights that can be derived from all that raw data. Many times insights can come from simply putting individual data points (e.g. a 10% increase in traffic) into context — which helps me understand if a 10% increase is a good outcome relative to what I’m trying to achieve, or some external benchmarks. The ability to provide context around individual metrics gives marketers and website operators a robust platform for testing and evaluating the value each web experience is delivering to its audience.
Introducing the Cisco Eos Brand Value Index (BVI)
We’ve generated a significant amount of data across the 100 Eos-powered web sites, and we recently put on our data spelunking caps to dig into this data to find actionable best practices our customers could use today, as well as to define a framework for contextualizing the broader data landscape generated by Eos interactions.
What I’d like to do now is to introduce you to some early thinking on a contextual analytics framework in Cisco Eos that we’re calling the Brand Value Index (BVI).
Before you ask, a couple of points on the data: Read More »
Tags: brand, brand value, brand value index, bvi, cisco eos, Cisco Media Solutions Group, CMSG, Eos, media, social entertainment, social media