Measure or Die
It seems like every day there is more talk about the need to measure all aspects of marketing. For those of us in the digital space, this is par for the course as we’ve had the ability (and therefore had the responsibility) to measure all of our efforts online. And for one, I’m glad that this is becoming more of a norm in the non-digital marketing arena.
I just finished reading a report entitled, “Measure or Die” by Beringer Capital. Unfortunately I can’t find it online, so you’ll have to take my word for it, but its a great read. However, there’s something in it that confuses me.
They have a ranking of areas of marketing that marketers feel are the most important to measure. At the very top of the list is email and direct mail. At the very end of the list is newspaper and social networking.
Now, I’ve had no less than 3 meetings over the past week with clients to talk about their need to measure their social networking efforts. In today’s economy my perception is that companies aren’t willing to “experiment” with social networking UNLESS they can measure it. And measure it directly to sales, mind you.
I’m curious if anyone out there has a different perspective on the need to measure social networking. Certainly no one would say that its not important, but where does it rank in terms of your marketing efforts? I started the conversation on Twitter…
Good measurement resources here:
https://measurementcamp.wikidot.com/tools-for-me…
We are tracking these metrics very closely and we're actually finding more and more impact from social media metrics and interesting engagement trends.
For example, we did an experiment last month where we tracked just one tweet we had made (corporately) and we were able to directly measure the count to around 5K people via retweets of that one tweet.
We're also developing several tools and measurement vehicles and working with an outside agency to help us with these efforts.
Love to hear more of the results if you could send them to me, working on a new version of the Twitter presentation I recently gave and some good case studies are hard to come by.
Jeff, we launched our newsroom aiming to be even more transparent than in the past (saab.com/newsroom). Links to enthusiast sites, social media, etc. Through Google Analytics we get good insights as to where people are coming from and how they interact with the site. Naturally we monitor the movement and interaction in order to develop the site, making it more interesting and approachable for our visitors. 10K visitors in 10 days, will keep media links and social posts fresh in order to keep new inflow to and returning of traffic to the site.
Jeff, we launched our newsroom aiming to be even more transparent than in the past (saab.com/newsroom). Links to enthusiast sites, social media, etc. Through Google Analytics we get good insights as to where people are coming from and how they interact with the site. Naturally we monitor the movement and interaction in order to develop the site, making it more interesting and approachable for our visitors. 10K visitors in 10 days, will keep media links and social posts fresh in order to keep new inflow to and returning of traffic to the site.