Refocusing the approach to Social Media Measurement

call to action: EARNING TRUST BY RE-FOCUSING THE MEASUREMENT ISSUE (v.1.)

when talking about social media, it’s easy to agree that TRUST is at its core.

TRUST in order to build relationships

TRUST in order to build relationships TRUST in order to manage reputation

TRUST in order to build relationships TRUST in order to manage reputation TRUST in order to become influencers

TRUST in order to build relationships TRUST in order to manage reputation TRUST in order to become influencers ...and ultimately,

TRUST in order to build relationships TRUST in order to manage reputation TRUST in order to become influencers ...and ultimately, TRUST in order to drive performance

one thing we cannot agree on is, the

social media measurement

measurement yes, as an approach to evaluate performance.

this is a problem.

BIG this is a problem. a problem.

CLIENTS particularly from the POV of

measurement free-for-all who consider that a

no TRANSPARENCY leads to

which ultimately leads to NO TRUST!

measurement ? why can’t we agree on

simply because:

simply because: “ measures will vary greatly on on a client-by-client basis and the network in which we are communicating/participating* ” * http://measurementcamp.wikidot.com/start

what now ??? so then,

TRUST what can the industry do to earn the of ALL its stakeholders?

CLIENTS. - and in particular, the trust of

maybe the answer is not that complicated

maybe the answer is not that complicated maybe it’s not about reinventing the wheel

maybe the answer is not that complicated maybe it’s not about reinventing the wheel maybe it’s seeing it from a different angle

maybe the answer is not that complicated maybe it’s not about reinventing the wheel maybe it’s seeing it from a different angle maybe one that doesn’t focus on measurement

maybe the answer is not that complicated maybe it’s not about reinventing the wheel maybe it’s seeing it from a different angle maybe one that doesn’t focus on measurement maybe one that rather focuses on REPORTING

ermmm..., ???

ermmm..., ??? reporting ???

ermmm..., ??? reporting ??? like what type of reporting ???

the old-school ACCOUNTING-type of reporting !!!

wha ??? ACCOUNTING-type reporting ??? how so ???

accounting-type-reporting as deﬁned below:

accounting-type-reporting as deﬁned below: “ the art of standardizing the recording, classifying, and summarizing of outcomes in a significant and transparent manner that allows for interpretation on the part of decision makers ” * deﬁnition adapted from wikipedia entry for ‘accounting’

measure / classify not all banks their provisions for bad debt in the same manner.

measure / classify not all banks their provisions for bad debt in the same manner. inflated profits . this may translate into

measure / classify not all companies their assets & liabilities in the same manner.

measure / classify not all companies their assets & liabilities in the same manner. skewed financials . this may translate into

all banks & companies report their outcomes yet, and explain their measurement methodology under one common set of guidelines, allowing for:

all banks & companies report their outcomes yet, and explain their measurement methodology under one common set of guidelines, allowing for: transparency,

all banks & companies report their outcomes yet, and explain their measurement methodology under one common set of guidelines, allowing for: transparency, interpretation,

all banks & companies report their outcomes yet, and explain their measurement methodology under one common set of guidelines, allowing for: transparency, interpretation, and a sustained degree of :

TRUST!

why then don’t we try this approach in an SOCIAL MEDIA ??? adapted form on

hmmm..., ok, but :

hmmm..., ok, but : - how will it work ???

hmmm..., ok, but : - how will it work ??? - what will it look like ??? and,

hmmm..., ok, but : - how will it work ??? - what will it look like ??? and, - what will someone be able to tell from it ???

well..., how about the following approach to :

well..., how about the following approach to : - how will it work ???

I peer social one idea (based on 2 peer collaboration )

I peer social one idea (based on 2 peer collaboration ) is to start off by setting up or building on an existing MeasurementCamp wiki* . wiki such as the * http://measurementcamp.wikidot.com/start

this wiki then serves as the central point where social media practitioners contribute their £.02 on the nuts & bolts of the industry’s reporting guidelines.

consider the following examples of areas where input from those in the industry will be needed:

1.) identification of reporting metrics -

1.) identification of reporting metrics - i.e. which are the metrics that must absolutely be included when reporting the results for any given social media tactic or strategy.

2.) definition of reporting guidelines -

2.) definition of reporting guidelines - i.e. how should the framework for reporting be created, plus what metrics merit an explanation as to the methods used in obtaining the ﬁnal ﬁgure.

3.) qualification of measurement methodologies -

3.) qualification of measurement methodologies - i.e. which measurement methods are most frequently used in the industry, and which are other accepted methodologies.

4.) sharing of campaign results -

4.) sharing of campaign results - i.e. posting ﬁnal campaign results onto wiki so that industry averages can be generated, thereby becoming benchmarks for performance.

sounds like industry-wide participation will be key to the success of this wiki based approach ,

sounds like industry-wide participation will be key to the success of this wiki based approach , correct ???

CORRECT!!!

industry-wide collaboration will eventually paint a achieving clearer picture about what the industry as a community considers to be reporting essentials.

contribute their the more those in the industry £.02 , £.02

contribute their the more those in the industry £.02 , the more fine-tuned the reporting £.02 guidelines will become.

what’s more,

the wiki will serve as an educational resource for clients interested in learning about what the industry as a whole considers to be -

the wiki will serve as an educational resource for clients interested in learning about what the industry as a whole considers to be - best practices,

the wiki will serve as an educational resource for clients interested in learning about what the industry as a whole considers to be - best practices, performance benchmarks, benchmarks

the wiki will serve as an educational resource for clients interested in learning about what the industry as a whole considers to be - best practices, performance benchmarks, and, accepted measurement methods

right.

right. so now onto :

right. so now onto : - what will it look like ??? and,

right. so now onto : - what will it look like ??? and, - what will someone be able to tell from it ???

for illustration purposes, the following are two examples of reporting tables for two broad categories of metrics -

for illustration purposes, the following are two examples of reporting tables for two broad categories of metrics - income,

for illustration purposes, the following are two examples of reporting tables for two broad categories of metrics - income, and brand awareness

income

re he ok lo income

brand awareness

e. er h nd a brand awareness

framework that delivers the tables share a information in a language that clients understands.

or in other words,

organize or in other words, the tables information in a manner that allows for a performance evaluation to be carried out by:

ANYONE!

social media . even if they are entirely foreign to

how : here’s

compliance statement compliance statement

compliance statement assures that the results presented abide by the guidelines outlined by the social media community on the industry wiki.

metrics column metrics column

metrics column identiﬁes all the areas where the campaign execution has had an impact in the form of results.

data columns data columns

data columns self explanatory section that enables the viewer to track the progress made on the campaign in chronological order.

percentage change percentage change

percentage change provides a wealth of insight by bringing to light ﬂuctuations in results, thereby revealing valuable trends.

industry comparison as per wiki industry comparison as per wiki

industry comparison as per wiki establishes a benchmark for comparison between the reported results and the low, average, and high values of the industry.

in addition,

in addition, the tables make it possible to easily correlate performance data

in addition, the tables make it possible to easily correlate performance data - for example:

income total direct sales as a percentage of total sales

in conclusion so, :

sum of these and other insights brought to the light by organizing the information in a manner decision making , that enables proper

plus , so,

the creation of a wiki that captures the industry’s consensus regarding

the creation of a wiki that captures the industry’s consensus regarding the most accepted methods of measurement,

the creation of a wiki that captures the industry’s consensus regarding the most accepted methods of measurement, reporting guidelines,

the creation of a wiki that captures the industry’s consensus regarding the most accepted methods of measurement, reporting guidelines, and industry benchmarks,

combine to create a degree of

interpretation combine to create a degree of

interpretation combine to create a degree of transparency and

interpretation combine to create a degree of transparency and that clients need in order earn their

TRUST!

created by: twitter :: @msamayoa www.mauriciosamayoa.com

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Refocusing the approach to Social Media Measurement

by Mauricio Samayoa on Mar 16, 2009

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Refocusing the approach to Social Media Measurement — Presentation Transcript