In business, “irrelevant’’ is defined as an action performed by an organization that doesn’t provide any benefit to itself or its target audience, deeming the action unproductive and financially wasteful.
Think of it this way: for every irrelevant action your business takes – regardless of whether it’s cold calling an ill-fitting lead, writing an irrelevant piece of content, or having a meeting that runs a bit longer than intended – company time and money is being thrown away.
You are, after all, paying your employees to take the time to perform these tasks.
Unfortunately, this means that productive man hours are now gone—and you’ll only realize the impact it’s had on your bottom line when projects are delayed and quotas aren’t met.
The same thing happens when you receive irrelevant media monitoring results from an automated system or a third-party vendor. Except in this case, you’re losing the return on your software investment on top of your company’s time and money.
But now you can immediately calculate the impact these irrelevant results could be having on your business.
MediaMiser has created a relevancy calculator—an easy-to-use form that will calculate how much it costs your organization to receive irrelevant media monitoring results from your current provider. Or, put simply, what your Cost of Irrelevancy (COI) is (i.e. If you’re sending your daily monitoring to 50 people and are including three irrelevant stories per day, it’s costing your company $23,760.00).
Try it out for yourself: