New whitepaper: Fiona Blades, "The Importance of Measuring Share of Experience"
If marketers can draw a pie chart of where we spend our investment but not of how people pick up our brand experiences, we need to change our perspective.
This whitepaper, written by Fiona Blades, builds on articles published earlier this year in Admap (March and April 2016) and case studies presented at recent conferences that demonstrate how SOE measurement has helped clients with their investment decisions.
Drawing on data-driven evidence from over one million experiences collected by MESH over the past 10 years, she argues that that using the Share of Experience (SOE) metric will be more helpful to marketers than using Share of Voice (SOV) to unlock brand growth because SOE:
• has a stronger relationship with market share than SOV
• can be broken down into Owned, Earned and Environmental experiences—as well as Paid—to enable 360 marketing
• incorporates sentiment: a Positive Experience has, on average, 3 times the impact of a Neutral one
• predicts brand consideration the following month, and for those in purchase window, we have seen this impact continue for up to six months
• reflects what people pick up, not what we, as marketers, push out
• can be further utilized by analyzing Share of Positive Experiences to find an even greater predictive power
In a marketing era where Chief Marketing Officers find new roles as Chief Experience Officers, a matching set of metrics and models is essential. Taking an Experience-Driven Marketing approach will help marketers to grow their brands more effectively than using traditional tools. We urge the marketing community to measure Share of Experience in order to meet the evolving needs of an experience-based economy.