19 Feb What gets valued gets taken seriously
It’s often said that what gets measured gets managed. Which is probably true. But just because something is managed does not mean it is being taken seriously. To be taken seriously requires a value.
One of the first things we recognised when we created Sonder Communications, the world’s first owned media specialist, was that there was no way to value owned media. We solved this by creating the methodology and technology to accurately value owned media assets in 29 countries.
We did this so that businesses could take their owned media more seriously. So, what can a business expect to have in owned media asset value? Well, of course, it depends on a number of variables, not the least of which are:
- Number of media assets
- Type of media assets (for example we find physical assets such as stores are far more valuable than digital assets)
- Audience size by asset
- Audience profile
- Your business category
- Your brand position
There are at least six other quantifiable variables that go into defining the value of an owned media asset. The simple (though rarely easy) act of valuing your owned media ecosystem can completely transform the way your business views owned media. It can change the way value is extracted from partners, the way revenues are created and the way your paid and earned media are planned and deployed more strategically.
To give you a sense of typical media asset values, here’s the latest industry genre averages for the businesses we have worked with in Australia.
Knowing the value of your assets is one thing, but if you’re serious about owned media, you want to unlock this value. The strategies and tactics required to unlock media value is a new and exciting space. But until you have the actionable intelligence, it’s impossible to make strategic decisions relating to your owned media assets.