Groundbreaking thought leadership for ShareThis quantified the financial value of online recommendations. Quantifying the Value of Sharing delivered $2 million in revenue opportunities for our client in the first 90 days.
Beresford Research conceived and implemented the first study to apply scientific, statistical methodology to the problem of determining the economic value of a social share. The essential question we posed was:
What’s the economic value of an online recommendation, and how does that value differ by industry (CPG, automotive and personal electronics), the strength of recommendation (bad, moderate, good, excellent), and who made the recommendation (strangers, acquaintances, close friends/family members, professionals)?
In order to establish context, we also looked at online reviews, online ratings, face-to-face communications and printed reviews. Finally, we conducted the study with two separate methodologies: conjoint analysis and Likert rating scales – and the results were astoundingly close.
Fielded during late 2013 and early 2014, the results provide the framework for publishers and advertisers to make informed decisions about advertising investments and content development based on real-world consumer behavior. The study has placed a spotlight on ShareThis as a thought leader.
“There’s no question consumers are actively looking online for recommendations and content to help them decide what to buy. We’ve all known that social sharing is important, but it’s been difficult to measure its impact on consumer spending — until now. For the first time, this report offers a guide for brands to determine the value of social content, and make informed decisions about where and how they need to invest to engage their customers.” –Kurt Abrahamson, CEO
Additionally, ShareThis forged a new alliance with The Paley Center for Media to create The Return on Sharing Summit held April 30, 2014. ShareThis and the Paley Center convened a high-level group of media and marketing executives for conversations inspired by The Return on a Share: Quantifying the Monetary Value of Social Sharing.
“The team at Beresford Research helped us, at ShareThis, with the seemingly audacious task of quantifying the value of a share. Julien quickly grasped the opportunity and developed a unique approach to completing the task. The methodology employed strengthened the credibility of The Return on a Share Study, the first research to quantify the monetary value of social sharing. The study served as the foundation of an integrated marketing effort that delivered more than $2M in revenue opportunities in the first 90 days following its release. We could not have achieved this success without our partnership with Beresford Research.”