NEW YORK: FleishmanHillard has partnered with memo, a marketplace platform that allows PR professionals to access traffic and engagement data from publishers.
The partnership will enable the Omnicom Group agency to obtain data from media companies such as Conde Nast, Forbes, New York Magazine and The Washington Post.
Memo’s key selling point is that it has direct access to aggregated publisher data, including metrics such as engaged time.
"We’re always looking for better methods and better tools that will have a positive impact on our clients’ communications function and their business," said Ephraim Cohen, GM of Fleishman’s New York office, who helped to spearhead the partnership. "[This deal] is about greatly increasing insights into how people consume specific articles."
The announcement of the partnership followed a pilot period in which the agency introduced the technology to select clients, according to a statement released on Tuesday. During that time, the firm worked with Memo to analyze article data using benchmarks versus client competitors, industry topics and publisher readership, the companies said in a statement.
Fleishman and clients can buy aggregated data through Memo by article a la carte or aggregated data in a bundle. They would share generated revenue.
Cohen said that the lack of accurate measurement has stifled investment in the PR industry and he hopes the partnership can unlock more budget for communications campaigns.
Memo founder and CEO Eddie Kim said that as someone who ran a content analytics company, he had access to data that would have validated the efficacy of PR and noticed that the discrepancy in the cost of sponsored content versus earned media was striking.
Sponsored content would typically fetch somewhere in the range of $50,000 to $100,000, he said, but an earned media story was considered to be worth only a few hundred dollars.
"We need to be using paid media calculations to quantify how much it takes to reproduce earned media coverage," Kim said, adding that the value of earned media would be in the hundreds of billions of dollars.