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Posts Tagged ‘Measurement’

Is ‘Social Media ROI’ a Dead Idea?

Here’s an interesting response to yesterday’s story on the study confirming that ad/marketing execs think social media is PR’s problem:

So: PR should handle SM, and PR should focus more on ROI to prove its value, but SM ROI remains elusive despite the fact that many continue trying very, very hard to measure Twitter campaigns in dollars-and-cents terms.

It can get confusing—and today we learned that more and more companies are abandoning the very concept of social ROI even as such efforts grow more integral to the operations of your average PR firm.

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Social Media Marketing Boot Camp Preview: What to Measure and Why

For eight weeks starting March 23, Mediabistro will be hosting the Social Media Marketing Boot Camp, an online conference and workshop filled with presentations and coursework to beef up your social media marketing skills. One of the presentations will be “Everything You Need to Know About Monitoring Public Relationships,” hosted by Katie Paine, CEO of KDPaine & Partners, author, and measurement expert.

“The big thing that I will talk about most is integration; the integration of social media data with traditional media data, with market research data,” she told us this morning in a phone call from Miami.

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The Ticker: Google Instant; Measurement; Foursquare’s ‘Like’ Button; Univision

Death To Ad Equivalency Reports!

apples-and-oranges.jpg

Have you ever had to compile an ad equivalency report? Do you even know what one is? It’s pretty simple, actually. An ad equivalency report attempts to compare the value a brand received from a PR campaign – media coverage, etc. – with the value the brand could have received spending the same money on advertising. Not only do they not work, they can be misleading, many PR measurement experts say.

“…with the rise of social media, AVEs have little meaning when the value of the most traditional media is dropping daily, and the power of individual blogs, many of which don’t accept advertising, is growing exponentially,” wrote Katie Paine in a Ragan.com op-ed today.

Paine has been in the measurement game for a while and is happy to announce that the Institute for Public Relations’ Measurement Commission recently voted 19 to 2 to ‘reject AVEs (ad value equivalency), the concept and the practice.’”

PRSA Seeks To Establish Industry Wide Measurement Standards

PRSA CEO Michael Cherenson gives the best sound bite we’ve read in a while when it comes to PR measurement:

Our fundamental goal is to change how the industry talks about what public relations accomplishes…Instead of meaningless catch phrases, such as ‘create buzz,’ our recommended approach focuses on identifying meaningful expressions of business performance, suggesting more appropriate measurement metrics and recommending proven tools for demonstrating how those metrics were impacted.

Ambitious? Certainly. The quote is in support of the trade organization’s new push to establish measurement standards for the PR industry. PRSA is seeking comments via their blog and will review all feedback at the end of this month, before assessing all of it to “make adjustments.”