The firm also claims the product, MarketImpact, allows PROs to assess return on investment.
MarketImpact searches all LexisNexis's ‘premium content', including newspaper clippings, trade magazines, websites and blogs. Its software judges coverage by tone, prominence and reach, and estimates the equivalent spend on advertising.
Customers can go online and instantly view coverage on brands, competitors or emerging issues. The service also monitors the frequency of words used alongside a brand, helping PROs with issues management.
The tool is already available in the US, where Bank of America is a customer. But competitors contacted by PRWeek said many companies already offer such a service.
They disputed LexisNexis's claim to be able to assess ‘advertising equivalence', because MarketImpact does not feature pictures nor judge the tone of headlines.