Monitoring brand mentions and even sentiment on social media is all well and good, but what about seeing how social media translates into a brand’s financial value in real time?
That’s exactly what eBrandValue, a company in Y Combinator’s current batch, helps brands do, and today it’s announcing its launch.
Founded by Ayse and Tolga Akcura in 2012, eBrandValue is about telling brands how consumer sentiment in social media correlates to sales, in real time. It juxtaposes social media data about a client’s brand assets (product names, etc.) taken from data providers like Gnip and others, with financial and sales information they provide to eBrandValue. The result is a dashboard that shows metrics such as customer comments on social media, how each changes brand preference over time (or not), and how comments correlate to sales and financial value.
“We can tell them in real time whether the money they’re spending into customers” is turning into revenue, Mr. Akcura told VentureBeat.
eBrandValue also enables them to track competing brands, specific events like a new campaign or product release, and more. It pulls social media data from virtually all social media channels, including Twitter, Facebook, YouTube, Google+, and more.
Most social media monitoring tools around, such as Sprinklr, Hootsuite, and SocialBakers largely focus on analyzing the social media data itself, as well as conversion from campaigns, but eBrandValue wants to match it to real-time finances.
Along with providing financial values as part of its metrics, eBrandValue’s focus on real-time reporting is one of its main selling points. As Mrs. Akcura told VentureBeat, reports — especially those looking at financial value, like BrandZ’s and InterBrand’s — only happen a couple of times per year, and the feedback comes too late for brands to do anything with it.
Currently, the company has five customers, including Calsberg and PNB Paribas. For each customer, it creates customized algorithms to track its own brands and competitors, charging the customer an initial fee for the setup, followed by a monthly rate to access the service.
eBrandValue is based in Istanbul, Turkey, and had revenue of $500,000 in 2014. The company has not raised any funding outside of Y Combinator’s investment as part of the accelerator program.