Unmetric gets funding to help brands gauge their social media clout
What would you get if social media ego measurement tool Klout had a baby with comScore, the Web traffic measurement firm? It would probably be Unmetric, a new “social media benchmark” tool that helps brands measure their social media engagement.
If you’re a big brand-owner all those Facebook Likes and Twitter Retweets by your customers and ‘fans’ are fine but what do they really mean in terms of engagement and customer sentiment? More importantly, how do they stack up against your rivals? These are some of the questions Unmetric hopes to help answer after raising $3.2 million in Series A financing led by Nexus Venture Partners.
Chicago-based Unmetric will debut its Unmetric Score, tailored for Fortune 500 companies, based on weighted data from at least 24 qualitative and quantitative metrics measuring online brand performance versus competitors. The Unmetric Score will be somewhat similar to the Klout Score but Lux Narayan, Unmetric’s Chief Executive, hopes its own score will have, er…more clout (sorry).
As far as marketers and advertisers are concerned these are still very much the early days of social media as they try to engage with their customers in more tw0-way conversations in a range of these fledgling platforms. Even Narayan admits it’s too early to declare what the value of a “like” on Facebook really means in itself. But he believes a “like” for example offers a very important tool for brands in the new world.
“A Like is a right for the brand to engage in a conversation with their customer,” said Narayan.
Unmetric’s customers include Citibank and Nestle and measures data on more than 3,000 brands already.