YouNoodle is a scoring system that plans to turn the business of investment into more of a science. Reading about this company made me think that this is needed for the world of advertising.
The software measures the "buzz" surrounding a company via blogs and media reports along with a variety of factors including website traffic.
The scoring tool covers nearly 30,000 start-ups, ranging from biotechnology to gaming software.
"By watching the way the world responds to a start-up, we can give advance notice of what's hot and what's not," said co-founder Bob Goodson.
Researchers adjust the algorithm (the mathematical rating), based on more than 150,000 start-up related stories, every day. Those reports are then analysed in much the same way that Google ranks content on a web page.
How easy would it be to adjust this for a campaign? That I don't know but it doesn't seem like a stretch. What would need to be done for campaigns is finding a way to identify the media noise, blog posts, story diggs, youtube views, facebook fans, page views, etc of a holisitic campaign against the target. For example a mention of a youth targeted event that is supporting the campaign on talk radio would garner a lower score or impact versus a mention on MuchMusic or MTV.
All of these items mentioned have impact on a brand, and the success of a campaign although they may not be able to be tracked directly to ROI. This is the biggest challenge our industry faces. How do we make the finance departments, C-suite execs, and others understand that their advertising investment has to be looked at in a different light? Maybe a tracking program based on the YouNoodle foundation.
What do you think?
Learn more about YouNoodle from the BBC.