Comments on: Forget Social Media Measurement. Get Back to the Basics. http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/ Social Media Training and Consulting Wed, 23 May 2012 08:11:03 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: LOTAME » NEWS » ADVERTISING » THE ROI (RETURN ON INVESTMENT) OF SOCIAL MEDIA http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-33975 LOTAME » NEWS » ADVERTISING » THE ROI (RETURN ON INVESTMENT) OF SOCIAL MEDIA Mon, 23 Aug 2010 15:35:25 +0000 http://kylelacy.com/?p=981#comment-33975 [...] Forget Social Media Measurement. Get Back to the Basics. (kylelacy.com) [...] [...] Forget Social Media Measurement. Get Back to the Basics. (kylelacy.com) [...]

]]> By: Is time-on-site a useful measure for online communities? | FreshNetworks Blog http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2684 Is time-on-site a useful measure for online communities? | FreshNetworks Blog Mon, 08 Jun 2009 08:31:15 +0000 http://kylelacy.com/?p=981#comment-2684 [...] Forget Social Media Measurement. Get Back to the Basics. (kylelacy.com) [...] [...] Forget Social Media Measurement. Get Back to the Basics. (kylelacy.com) [...]

]]> By: Maybe there is no way to measure social media — Shooting at Bubbles http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2421 Maybe there is no way to measure social media — Shooting at Bubbles Sun, 26 Apr 2009 03:58:35 +0000 http://kylelacy.com/?p=981#comment-2421 [...] Kyle Lacy put it this way this morning We are focused so intently on understanding the measurement model of social media that we fail to recognize the tool itself.  We fail to realize that a complete understanding of social media (as a tool) has yet to be accomplished. We need to back up and refocus. As a company, we are just as guilty. [...] [...] Kyle Lacy put it this way this morning We are focused so intently on understanding the measurement model of social media that we fail to recognize the tool itself.  We fail to realize that a complete understanding of social media (as a tool) has yet to be accomplished. We need to back up and refocus. As a company, we are just as guilty. [...]

]]> By: Social Media Measurement is a Must! at Marketing Blog http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2420 Social Media Measurement is a Must! at Marketing Blog Sat, 25 Apr 2009 01:17:51 +0000 http://kylelacy.com/?p=981#comment-2420 [...] I read this post to forget social media measurement I commented, in essence, that his argument was a moot point. Businesses do not care what my opinion [...] [...] I read this post to forget social media measurement I commented, in essence, that his argument was a moot point. Businesses do not care what my opinion [...]

]]> By: Social Media Measurement is a Must! | The Marketing Technology Blog, Indianapolis http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2362 Social Media Measurement is a Must! | The Marketing Technology Blog, Indianapolis Sun, 19 Apr 2009 00:23:07 +0000 http://kylelacy.com/?p=981#comment-2362 [...] I read this post to forget social media measurement I commented, in essence, that his argument was a moot point. Businesses do not care what my opinion [...] [...] I read this post to forget social media measurement I commented, in essence, that his argument was a moot point. Businesses do not care what my opinion [...]

]]> By: Lotame Learnings » Blog Archive » The ROI (Return on Investment) of Social Media http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2306 Lotame Learnings » Blog Archive » The ROI (Return on Investment) of Social Media Mon, 13 Apr 2009 12:51:41 +0000 http://kylelacy.com/?p=981#comment-2306 [...] Forget Social Media Measurement. Get Back to the Basics. (kylelacy.com) Share and Enjoy: [...] [...] Forget Social Media Measurement. Get Back to the Basics. (kylelacy.com) Share and Enjoy: [...]

]]> By: Douglas Karr http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2298 Douglas Karr Sat, 11 Apr 2009 18:39:13 +0000 http://kylelacy.com/?p=981#comment-2298 I honestly think your point is moot. Large companies demand measurement because it's always been a successful means of driving productivity and profitability. You're simply not going to walk into a Fortune 500 company, tell them to hire a social media team or invest in social media and say, "No, don't worry about measurement - it works... trust me." I just got back from Webtrends Engage 2009 Conference in Las Vegas and session after session were successful examples of accurate measurement of social media on business. It is measurable - both in profitability, acquisition, and retention. You CAN measure the impact - but it's very difficult and not for the average joe. You can also optimize the data you capture to enhance communications with prospects and customers. Measurement is essential because marketing teams don't have the resources to manage 1:1 relationships when they have tens of thousands of customers. You have to know where you can make the most impact - or your company will flounder and fail. Luckily, Social Media ENABLES online marketers to measure the impact where off-line models do not. You can't improve what you can't measure. I honestly think your point is moot. Large companies demand measurement because it’s always been a successful means of driving productivity and profitability. You’re simply not going to walk into a Fortune 500 company, tell them to hire a social media team or invest in social media and say, “No, don’t worry about measurement – it works… trust me.”

I just got back from Webtrends Engage 2009 Conference in Las Vegas and session after session were successful examples of accurate measurement of social media on business. It is measurable – both in profitability, acquisition, and retention.

You CAN measure the impact – but it’s very difficult and not for the average joe. You can also optimize the data you capture to enhance communications with prospects and customers.

Measurement is essential because marketing teams don’t have the resources to manage 1:1 relationships when they have tens of thousands of customers. You have to know where you can make the most impact – or your company will flounder and fail.

Luckily, Social Media ENABLES online marketers to measure the impact where off-line models do not. You can’t improve what you can’t measure.

]]> By: IndyChristian http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2297 IndyChristian Sat, 11 Apr 2009 02:54:08 +0000 http://kylelacy.com/?p=981#comment-2297 P.S... The low-hanging fruit I currently use re my QA (Quality) metric... is Facebook groups. Number of your friends who join a group is an indicator of how closely aligned they are to your mission. Btw, one improvement might be to use a ReedsLaw type of formula to indicate the wider network potential of each group-member. P.S… The low-hanging fruit I currently use re my QA (Quality) metric… is Facebook groups. Number of your friends who join a group is an indicator of how closely aligned they are to your mission.

Btw, one improvement might be to use a ReedsLaw type of formula to indicate the wider network potential of each group-member.

]]> By: IndyChristian http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2296 IndyChristian Sat, 11 Apr 2009 02:48:30 +0000 http://kylelacy.com/?p=981#comment-2296 Kyle, admittedly the following is not geared to finances, but measurement IS important from my perspective. Its importance for me is to help maintain focus on the strategy (of deploying social media as a driver toward overall mission success). What metric might be best? I wish I had a composite... QTY x QA. Qty of FBfriends (easy enough, heh?) But Quality is the tougher part... preferably 'proximity to the mission'. That is, how aligned are their core values compared to the core values or mission I'm hoping they'll help advocate for. In a market world, call it narrow-casting... especially to your prime ADVOCATES. Kyle, admittedly the following is not geared to finances, but measurement IS important from my perspective. Its importance for me is to help maintain focus on the strategy (of deploying social media as a driver toward overall mission success).

What metric might be best? I wish I had a composite… QTY x QA. Qty of FBfriends (easy enough, heh?) But Quality is the tougher part… preferably ‘proximity to the mission’. That is, how aligned are their core values compared to the core values or mission I’m hoping they’ll help advocate for.

In a market world, call it narrow-casting… especially to your prime ADVOCATES.

]]> By: laurent http://kylelacy.com/forget-social-media-measurement-get-back-to-the-basics/comment-page-1/#comment-2295 laurent Sat, 11 Apr 2009 00:19:25 +0000 http://kylelacy.com/?p=981#comment-2295 kyle, Obviously, it doesn't translate into direct measurable financial impact. I think that's the problem with trying to put a $ number in front of any relevant metrics for SM. Most of the impact will be indirect. Because SM is a great place for influence. A while ago I found this pretty good resource: http://twitpic.com/32nwn/full Tell me how many of those metrics translate into $. Though most of them are valid SM ones. kyle,
Obviously, it doesn’t translate into direct measurable financial impact. I think that’s the problem with trying to put a $ number in front of any relevant metrics for SM. Most of the impact will be indirect. Because SM is a great place for influence.
A while ago I found this pretty good resource:
http://twitpic.com/32nwn/full
Tell me how many of those metrics translate into $. Though most of them are valid SM ones.

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