Money is not synonymous with measurement. Trust is a key outcome. Measurement lets you know if you are making a difference or making mistakes in the social media realm.
Kami did a video with Katie Payne of KD Paine & Associates on the six steps of measurement.
Here’s some of the discussion from individual slides…
Setting objectives: Things you can measure: Attitudes and behaviors, outputs, outtakes and outcomes. Outcomes are the best (subscriptions, viewers, etc.). Without objectives, measurement is meaningless.
Community of Stakeholders: Understand who you are talking to…
What Metrics Matter Most: Relationships, analytics and outcomes (renewals, etc.)
Measuring Analytics: Number of unique users, returning new readers, referring traffic, links from other sites, Google PageRank, Technorati Authority, time spent time on site, ratio of blog comments.
Measuring Relationships: Harder You do this by interaction: conversation index, quality of relationships, and building mutual trust. Control mutuality, trust, satisfaction, commitment, exchange relationships and communal relationships are six things to measure relationships.
Outcomes and the Dreaded ROI: Benefits, costs and risks of social media. For example, Sea World had 500,000 video downloads…
Kami referenced the media snacker meme as measured by Radian 6. The most commented on posts were:
- Now Is Gone, Geoff Livingston (27 comments, WHAT”S UP!!!!)
- Every dot Connects, Connie Reece (21 comments)
- Web strategy by Jeremiah, Jeremiah Owyang (19 comments)
- Web strategy by Jeremiah, Jeremiah Owyang about Utterz (18 comments)
- Engage in PR, Kyle Flaherty (12 comments)
Kami also gave a three-step to play in social media: 1) Listen to the conversation. 2) Contribute briefly in the conversation and make sure it’s a win-win, that the community will care. 3) Get out there and participate with your own social media initiative.
Healthcare 100 was cited as an example of an organization that contributed to the community, and developed significant in bound traffic.