ChatThreads to measure WOM value in dollars
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US-- Word-of-mouth researcher ChatThreads has launched a tool that puts a bottom-line dollar value on consumer conversations.
The Conversation Value metric claims to be able to quantify how much profit can be attributed to a particular marketing activity by looking at purchase and recommendation behaviour at each stage of a conversation.
The tool was developed in collaboration with Professor Barak Libai of Tel Aviv University and the Massachusetts Institute of Technology. Information is captured using ChatThreads' G2X Analytics Platform, developed by chief research officer Walter Carl.
Company president Laurie Cohn said the tool will give clients a “meaningful optimisation metric”. “If the Conversation Value is $1.20, how can this be improved in subsequent campaigns?” she said. “Is it above or below category benchmarks? Optimising a campaign's Conversation Value will directly benefit company revenues.”
Author: Robert Bain
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