Does Web 2.0 Really Merit Different Metrics from Advertising?
That begs another question, since social media is viral online PR: Should PR should be measured differently from advertising?
I hold advertising to the KPI's of CPA and ROAS. But many voices in social media plead for the use of other interim metrics like reach, impressions, friends, and so on. I'm loathe to accept metrics that don't give the client some sense of their advertising ROI.
In seeking the answer to these questions, here are some good resources I've discovered:
Social Media Measurement Ideas, Blogs, and Blog Posts:
- List of Social Media Metrics
- Engagement Metrics
- Measuring Multimedia Content in a Web 2.0 World
- Web 2.0 at Web Analytics Demystified
- Social Media at Web Analytics Demystified
- Web Analytics Standard Definitions
- Corporate Blog ROI - $1m in New Sales
- Proving the Value of Public Relations
- KD Paine's PR Measurement Blogs
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Web 1.0 did not get its metrics right yet. Providing a mix of gross rate points and cpm, and then add a bit analytics to it is still far from measuring and quantifying conversion paths. some experimental approaches are in the making, so far you basically start tracking CPC campaigns once the visitor clicked the ad - but it would be great to know how often he was exposed to ads of this brand [image and text] before he made the step to click it . . just one example, just trying to say we are far from an established science or methology here.
Agreed.
We do the best we can with KPI's and analytics from GA and Omniture, but the industry needs a sophisticated way to map and track all customer touchpoints that lead up to the desired customer response.
I think we're a couple years away from that. Maybe less if we're lucky.