With the end of the year fast approaching, many marketers are beginning to think about how they will report the results of campaigns and strategies they’ve been working so hard to implement all year. We all know that measurement is critical, but when it comes to new and emerging media, what do you measure and how?
If you’re like a lot of marketers, you may be tempted to measure success in hits to your website, Twitter followers, Facebook “Likes”, click through rates of your banner ads and open rates of your email blasts. All of these metrics are great and help us understand trends and growth in awareness of our brand. However, they probably aren’t enough.
As Ogilvy & Mather’s Senior Vice President of Digital/Social Strategy, Irfan Kamal, put it in an interview with eMarketer, “The metrics that are easy to measure are the ones that end up getting measured, vs. the ones that really would be useful in understanding business impact.”
Kamal says that in addition to these easily measured stats, we should also be taking a step back to understand the value each of our marketing tactics are bringing to the company.
Here is a model created by Industry Analyst Susan Etlinger of Altimeter Group. She calls it the Social Media Measurement Compass. It’s an interesting perspective on how to take a step back from your social media tactics to see how they are impacting the bigger picture of marketing for your organization. I like it as a reminder for what aspects to keep in mind when implementing social media efforts. What do you think?
It is so easy to jump to easily-measured metrics when trying to prove the effectiveness of your social marketing and emerging media efforts. However, your work is most likely to pay off if you take time to look at how it all comes together to benefit the business as a whole.
Says Kamal, “One of the next horizons we see is that with better measurement you can really understand how to create incredibly impactful programs that not only acquire fans and followers and customer advocates, but also engage them in a way that drives value.”
So how are you measuring your new and emerging media efforts? What has worked for you and what hasn’t?