The other morning I had the pleasure of being asked to moderate a session; the honor to discuss an important subject – Digital Measurement precisely Social Media Measurement. We’re all trying to figure out how to measure social media, the Social Media Breakfast was perfect place to discuss theories and successes in measuring social media. I wasn’t sure of the level of experience my audience would have so I de-geeked my formulas so that we could have a pleasant conversation.
And a pleasant conversation we had. The Social Media Breakfast of Chicago founded by Craig Bagdon, Scott Bishop and Mike Pilarz who brought together people from all types of backgrounds who are excited by social media and it’s various forms, usages, and users. The group I had sparked enthusiastic conversations around calculating success through measurement and a genuine desire for participates to get something out of the session. If you’re going to show up for an early morning breakfast this is the place that will fuel you physically and intellectually.
I presented rationale on measuring Social Media. Most importantly what’s necessary to do before your begin to measure. It’s always good to have a baseline. We all acknowledged there are so many different behaviors to measure. I spent the past years working out the behavior and intent which I described through a schema I created.
Rick Sack made a great comment about social media he said it’s not media it’s marketing.
The take away from our lively session on Social Media Measurement:
- Identify the communication objectives
- Define the communication objectives and in terms of social media usage
- Identify the social media tactics along with key performance indicators
- Indicate outcomes – these are end results of the communications, such as reaching the audience with message. inspiring dialogue, and learning.
- Set the return on investment as well as baseline for future analysis – the formula for this is cost of acquisition.
Cost of program/metrics = CoA
Danial Prager, Ocean Agency, nicely summed up Social Media Measurement session in his blog post, On Social Media Measurement.
My recommended reading:
Aliza Sherman, The Everything Blogging Book
Clay Shirky, Here Comes Everybody
Bob Garfield, The Chaos Scenarios