The New Media Scorecard
One of the most fascinating aspects of socialized media is its ability to track and measure almost anything that matters to your business—as it unfolds. With the right tools, we can peel back the layers between the digital and real worlds to reveal actions and outcomes.
Whether you realize it or not, you are already making progress. To ease us into this complex and diverse discussion, I've peppered the materials needed to build a framework for relevant business metrics throughout this book.
In the Social CRM chapter (Chapter 23), we learned how to measure customer value and influence. Earlier in the book we examined the processes associated with identifying and establishing authority. We also reviewed methods for discovering communities of influence and capturing relevant activity so as to institute a measurable Conversation Index. We also learned how to define experiences, establish desired click paths, and track and measure activity and outcomes. Each step forms a foundation of metrics that serve as benchmarks moving forward—focused specifically on the programs and goals as implemented at program and brand levels. After all, while the need to measure initiatives is pervasive, we have no basis for comparison without benchmarks.
There are several schools of thought when it comes to measuring the effectiveness of new media. In this chapter, we explore the tools and methodologies that translate activity into tangible value for your business and ...