#4. Audience Data

The issue of earned media measurability has generated considerable debate amongst professionals, researchers and scholars for over a decade. Today, we take a look at the challenges posed by measurement and the future of the media measurability debate.  

Traditional measurement standards of editorial publicity such as AVE and ASR have been subject to a substantial amount of scrutiny. According to the US Institute for Public Relations, “most reputable researchers contend that ‘advertising equivalency’ computations are of questionable validity”. As far back as 1999, the Public Relations Institute of Australia distanced itself from the AVE as a form of earned media measurement, stating “PRIA does not recognise Advertising Value Equivalents (AVEs) of editorial media coverage as a reliable or valid evaluation methodology”.

The Measurability Challenge

According to distinguished communications academic Professor Jim Macnamara, “measurement remains a key issue of contention among practitioners and their employers and clients”.

In 2015 the world’s largest trade body representing communications research, measurement and insights, AMEC released the Barcelona 2.0 Principles,  an overarching framework for effective public relations and communication measurement. Principle #1 affirmed that Goal Setting and Measurement are Fundamental to Communication and Public Relations. Measurement, evaluation and goal-setting are becoming increasingly critical as media professionals integrate marketing and communication into overarching business strategy.

But professionals looking for an overarching solution to the measurability issue have found their efforts frustrated by a lack of consensus on alternatives to the existing system. Although Principle #5 acknowledged that “AVEs do not measure the value of PR or communication, media content or earned media”, a legitimate alternative failed to materialise, leaving media professionals struggling to measure and inform their media strategy.

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The Advent of Audience Data

The 21st century has reinvented the global media landscape on a monumental scale, and amongst the more substantial of the technological advances is the ability to track the engagement of online readers. This means no more reliance on traditional metrics such as circulation figures, readership estimates, polls, surveys and panels. Rather than relying on outdated measurement metrics such as ASR and AVE, journalists, marketers and media teams have the opportunity to access deep, granular data-based insights to inform their monitoring. 

Streem is the first Australian news intelligence provider to deliver comprehensive data on the engagement, geography and profile of news consumers across Australia, making it a leader in audience insights. Unique, industry-first data sourced directly from Australia’s largest publishers is built from the realtime online behaviour of over 14 million Australians each day, providing media advisors, comms teams and PR professionals with an elite level of visibility across live media issues. 

Screen Shot 2017-04-21 at 11.41.28 amFrom small stories to major news issues, Streem delivers highly accurate and realtime audience data that helps media stakeholders measure earned media engagement. From crisis communications, measuring brand and issue engagement or understanding the public’s participation in news issues, Streem’s Audience Data guides how an organisation engages with the public, including data which measures, actual audience engagement down to the individual reader, sentiment, competitor benchmarking, journalist, publisher and broadcaster segmentation and key message pull through

Streem’s  media analysis is driven by actual audience data (not panels or ‘guessed’ data) which provides a much richer understanding of what is being said and allows professionals to integrate audience data into business strategy.

#2. Flexibility

10 REASONS WHY YOU SHOULD ABANDON OLD-WORLD MEDIA MONITORING FOR DIGITAL-FIRST MEDIA INTELLIGENCE

Have you ever been at the centre of an unfolding crisis only to find yourself limited by static keywords which include irrelevant media and omit key stories? Spending hours liaising with your media monitoring service trying to update keywords is more than frustrating, it’s wasted time which could be better spent analysing and responding to an evolving story. News changes on  a minute-by-minute basis, so why should your keywords remain fixed?

Unlimited keyword flexibility means that you can add, modify and delete keywords instantly – keeping your news relevant and making it easier to prioritise and respond to it. Having the flexibility to add and remove keywords for key spokespeople, stakeholders, product names, competitors and emerging issues is the best way to keep on top of your media and is the most comprehensive way to approach issues management.

blog arrowsFlexibility shouldn’t just end at keywords, it should extend to your source base. Different organisations generate attention in different publications, so it’s important that your media monitoring service is capable of adding new sources to ensure your coverage is comprehensive. Streem constantly updates our source base based on the individual needs of our customers, ensuring that niche or industry specific publications are included. 

10 Reasons why you should abandon old-world media monitoring for digital-first media intelligence

#1. SPEED

We recently featured a story which discussed the importance of speed in media monitoring, and revealed that it takes less than 4 minutes for a news story to spread from one source to another in the Australian news market. For listed and price sensitive companies, the speed of news distribution and consumption can become an all to familiar source of frustration and stress, especially for those working in issues and crisis management. Key stakeholders and spokespeople can’t respond effectively to an unfolding crisis if coverage of the issue isn’t available for hours or even days.

Old-world media monitoring services are unable to deliver relevant material in a timely manner. In a media landscape where minutes can make or break audience perception of a public figure, product or company, it is unacceptable for any media monitoring service to deliver “breaking news” hours or days after it first reaches the public.

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The delivery speed of old-world services is impaired by a dependence on human labour to collect, transcribe, sort and distribute information, all of which are tasks which can now be technology driven to ensure relevant, accurate news is delivered in realtime. 

Streem delivers all forms of media within minutes of publication or broadcast – the fastest delivery of news and alerts in the Australian market. Streem is highly accurate and not human-summarised, meaning that we can pass the news straight on to you without waiting hours for a human to transcribe it word by word. Plus, relying on tested, powerful filtering infrastructure means that your news coverage is less likely to fall prey to human error or omission.

A 24/7 media environment requires an elite level of visibility across live media issues, and this means settling for nothing less than a realtime platform capable of delivering news within minutes of publication or broadcast.

Australia’s media monitoring sector disrupted with entry of Streem

After 3 years of R&D and 18 months of customer commercialisation, Streem officially announced its entry into the media monitoring sector on Wednesday night with an event at the Museum of Contemporary Art, Sydney. Promising to re-invent media intelligence, the event featured significant attendance from over 150 key figures within media and communications. Representatives from large corporates across consumer electronics, FMCG, major sporting codes, transport/logistics, State and Federal government departments and NGOs came to witness the debut of Streem’s disruptive, full-service monitoring platform.

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Streem co-founders Antoine Sabourin and Elgar Welch

Streem leverages industry-first technology to monitor Online, Print, TV, Radio and Social Media and delivers customers realtime news alerts and media within minutes of publication or broadcast, direct to their Desktop, Tablet or Mobile.

The evening kicked off with an address from Tony Davis, chair of the Woolworths backed data analytics firm Quantium. “We are witnessing the emergence of another powerful data and technology-enabled disruptor in the Australian business landscape” Davis said. “With its fast and accurate platform, impossible to match with human processes alone, Streem will allow organisations to manage their media and audiences with far greater effect and resonance”.

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Streem’s co-founder and Lead Elgar Welch reinforced the importance of speed and flexibility in his keynote address. “Customers want speed, flexibility to monitor and transparent pricing” Welch said. Streem’s realtime media intelligence infrastructure makes it the fastest, most accurate in the industry and sets it apart from slow, clunky, old-world monitoring providers.

“We’ve been delivering Streem to customers for 18 months and have chosen to officially launch now with the backing of not only a great board, but some key clients including Australia’s biggest sports league, major government departments, household consumer brands and top 100 ASX corporates. We’re thrilled about the growth we’ve experienced and the organisations preparing to shift to Streem.”

Welch also used the launch as an opportunity to unveil Streem’s industry-first partnership with Australia’s largest content producers. Access to realtime audience data enables Streem to measure actual engagement in news and issues drawn from the online behaviour of millions of Australians, enabling decision makers to make informed responses. Combining audience data with realtime news is a game-changer for the industry.