I’m really looking forward today to the Roundtable on Social Media Measurement, a community project catalyzed by Joe Thornley of Thornley Fallis. Sure to be an intense day, attending are over 20 people involved in communications, marketing, social media & analytics, client-side in organizations public and private, as well as agencies.
Following on the work of two previous social media measurement roundtables, which produced these two white papers, Tracking the Influence of Conversations and Distributed Influence: Quantifying the Impact of Social Media, Joe has suggested that our target outcome be to create a white paper that advances the conversation towards …
“a guideline for a social media measurement dashboard. What components should be part of the ideal social media measurement dashboard and how should they be weighted. To simplify this task, we may wish to focus on two scenarios:
- a dashboard that could be applied to social influence marketing and
- a dashboard to measure community building and engagement.”
This certainly raises the bar for social media measurement! Benchmarks would certainly be helpful but just as there isn’t one benchmark or dashboard for monitoring conversion of online retail websites, it’ll be a challenge to develop one dashboard.
Dashboards need to be indicative and supportive of goal attainment. Dashboards are only useful if they help optimize, improve and achieve goals.
So with different types of organizations seeking different outcomes and having different goals for “influence marketing” and “community building and engagement”, it may not be possible to have a single dashboard. Publishing organizations seeking to monetize their content and corporations seeking to increase customer loyalty or manage corporate reputation will find different metrics to be meaningful and relevant to them. However, there may be “families of dashboards”, just as there are key things to track on websites that are goal-dependent.
What do you think? We’ll have Internet access all day, so if you have any thoughts, please do share. They’re recording the conversations, so if I contribute your comment, don’t be surprised that you’ll be acknowledged and attributed.
And following our 9-5 session, many of us will be heading over to Third Tuesday Toronto to continue the conversation. Interested in joining us? As of yesterday afternoon, there were still 10 seats (You have to ).