21 Nov Are you sitting on a gold mine?
Today marks a seminal day in the short history of Sonder.
Today we launch a new product. A product which until now did not exist anywhere on the planet. A product which is going to revolutionise how businesses view their own assets. A product which is destined to change the fortune of businesses in 29 countries around the world. A product which we wanted you, our faithful community, to be first to hear about. That product is called MAVmetric and we are extremely proud of it.
Research told us 96% of global businesses use their owned media assets to communicate with their customers. However, only 12% actually know the value of their owned assets. The overwhelming majority of business are therefore not carrying the asset value on their balance sheets, potentially hugely under-valuing their business.
MAVmetric, has been created to independently measure the true value of owned assets, allowing businesses to understand the potential revenue opportunity that they could be tapping into. MAVmetric is already proven on multi-million dollar businesses like KFC, Myer and George Weston Foods, who have already used early versions of the tool to optimise their owned media infrastructure.
The patent-pending software applies multiple algorithms to a company’s owned media assets, such as their digital, in-store and physical assets, to determine the overall media asset value of the business. MAVmetric also calculates the annual commercial potential a business could expect to generate, the audience footprint and how to create additional media asset value in the future.
Sonder co-founder Angus Frazer explains, “Airlines and retailers have long recognized the value of their website, stores, transport and packaging as media vehicles for other brands. With MAVmetric going live, there is now a real opportunity for organizations of all sizes to quickly and accurately value their assets and leverage untapped revenues. The whole valuation process takes less than ten minutes.”
Myer Executive General Manager, Michael Scott believes MAVmetric has enabled the company to become a media owner.
“At Myer we have been monetising our assets for years, however our approach has been fragmented and has lacked the necessary level of sophistication. The MAVmetric tool has allowed our business, for the first time, to value every owned asset individually and accurately predict the annual revenue potential.
As a result, Myer has become a media owner in its own right and is creating an entire team focused on monetising our many assets with commercial partners.”
KFC Chief Marketing Officer, Catherine Tan was surprised at the additional value MAVmetric found.
“Whilst we leverage our own channels quite well at KFC, using MAVmetric has been insightful in assessing their true value. We were able to assign a value to every asset, which made us consider our owned media in a new light. It is changing the way we think about communication and how we value our assets with partners.”
MAVmetric identifies three ways to leverage your assets for material impact:
1. Commercialise your assets with other brands
2. Improve supplier terms
3. Optimise the size and influence of your own audience
With 68% of the companies surveyed saying they would try MAVmetric, it promises to kick-start a revolution in how owned assets are valued and commercialised.
Check out our new product at www.wearesonder.com/what-we-do/ and let us know what you think. Here is Gus talking about it on CNBC.