CHAPTER 3Measuring the Immeasurable
Branding, Buzz, and Social Media
ONE OF THE FIERCEST BATTLES in marketing today is whether or not the traditional methods to put value on mass media are still relevant when we talk about the economics of ROI. Two philosophies have emerged.
The first one attempts to apply, or at least retrofit, the older measurement systems created for print, radio, and TV, such as CPM (cost per thousand) and GRP (gross rating points), to gain some insights into the value of investing marketing dollars in derivative media such as web video or the online version of an industry or consumer magazine. This can work if the communication is a true form of mass communication—a branded, deliberate message from the company to large numbers ...