TheNod.com, a website set up to cover celebrity endorsements and recommendations (also known as ‘nods’), has launched an index to analyse celebrity brand associations online. This will include official associations such as advertising campaigns and the impact of products branded with a celebrity’s name on consumer awareness, alongside unofficial mentions that might include someone being spotted at a venue or using a product.

Dubbed the ‘Celebrand Index’, it is based on online market research company Attentio’s own ‘Brand Dashboard’ data, which many of its Fortune 500 clients use to measure what people are saying about them across blogs, forums and social networks.

Will this finally provide a way to track whether this kind of marketing still works? The non-profit research institute, AccountAbility, says that ‘celebrities come second last on the list of “very important” information channels that consumers used to judge products’, and states that consumers no longer look to ‘famous people’ as a trustworthy source because of the public awareness of high figure sponsorship deals.

However, Attentio co-founder Simon McDermott said; “Previous studies of this type just looked at whether celebrity endorsements work – which has been proven. Brands want to see more insights like which celebrities are generating buzz, in what sectors, and if those are positive mentions.”

Throughout an initial trial period, the Celebrand Index has been establishing general patterns that form around celebrity buzz in relation to fashion, travel, technology, sport and the automotive industries. Early results show that female celebrities are discussed online far more than men, and that some topics, like travel, have a lot of relevancy to celebrity conversations but low brand presence. It also may be encouraging to marketers to hear that celebrity association shifts rapidly, often in response to campaign activity or news (making it easier to show the result of spend on a particular celebrity endorsement).

The Nod’s CEO David Lethbridge also thinks that this is a way to extend the affiliate revenue generated by his site; “The Nod tracks and lists celebrity recommendations and, via our affiliate model, sees it convert successfully into sales. We wanted a research partner to provide further data on the value, opportunities, and trends from celebrity association.”

The index will be released as a quarterly report to support Forbes’ annual ‘Celebrity 100’ list, including rising stars, successful celebrity endorsements, and where brand opportunities lie.