Thursday, 27 March 2008

Measuring What Matters

Brian Morrissey in Adweek, this week advances the question "What is a friend worth?" A direct enough way of expressing the delicate balancing act between conversations and conversion.... As marketers increase their involvement in the social media space - how will they go beyond measuring engagement and get to measuring what matters, measuring those comments, tracks, discussions, topics, influencers etc that really drive business outcomes. It's a bit like the web analytics quandary - the greatest thing about the online space is the reams of available data, the worst thing is... you guessed it. The trick really is in not using the 44,000 reports that come out of the box with your analytics package and choosing the 3 that you need. My agency has developed an interesting way to tie social activity to search and site-side optimisation, much more to come on this.

And the quote of the day from the same article:
"Social media measurement is like radar. You can't fly a plane without radar. The question is how much radar do you need." Pete Blackshaw, CMO of Nielsen BuzzMetrics.

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