Socialbakers teams with Lenovo for creation of the Social Health Index, allowing brands to measure their social marketing performance across platforms.
Having launched today (23 October) at New York Engage, the Social Health Index was described by Socialbakers chief executive Jan Rezab as the first industry benchmark that puts brands’ social marketing performance into context.
The Social Health Index traces a brand’s social performance on Facebook, Twitter, and YouTube and combines it into one single rating.
Said Rezab: “Brands need a way to quantify their return on investment into social relative to their competition. Our development of this index with Lenovo provides a simple way for brands in any industry to do this.”
Brands are scored on four metrics key to core business goals - participation of the social audience, acquisition of new community members, retention of the brand’s audience, and the shareability and effectiveness of content.
“Lenovo is constantly looking for ways to evaluate the approaches we take in engaging with our customers such as through conversations on our global Twitter handles or through our close to 60 Facebook pages across the organization,” said Rod Strother, director of digital and social centre of excellence at Lenovo.
“We recognised the need for an easy way to benchmark our use of social platforms against others in the industry and share this information in a digestible format with Lenovo executives. Socialbakers was the perfect partner with whom to develop this index due to the company’s dedication to providing brands with competitive intelligence insights.”
The Social Health Index will be available as part of Socialbakers’ executive dashboard.