Measuring Social Media - Chinwag Live at Internet World

 To be honest, I am usually pretty quick at writing the posts on this blog but this time, apologies : Internet World and in particular Chinwag Live... that was 8 days ago !

So anyhow, if you haven't had the chance to attend the Chinwag Live session last Wednesday (30th April), well, that's a shame as it was very interesting : how do you measure social media ?

The panel, made up of 6 speakers from the industry (more details about them on the Chinwag page) spent an hour discussing social media metrics and here are some interesting facts that were discussed:

- what do you call ROI when it comes to social media ?

- before calculating your ROI, you need to set up some objectives : do you want to generate buzz ? or sales ? do you want to engage with your consumers ? What do you want to achieve exactly ? You need to set up some KPIs.

- also discussed was the need for third parties to come in and audit independently the social media mesurement.

- again interesting was one of the speakers' comment about the fact that "the Internet is no longer about bringing all your customers to your site. It's about bringing your products to where your customers are", with the example of Channel 5 going to MySpace.

- on that subject, interestingly enough, most brands are still trying to bring customers to visit their website, when actually we know the most successful branded conversation in the social media space are taking place outside of branded website but rather on MySpace, Twitter, Facebook, etc.

Want to know more ? Some of the speakers have a blog:

- Will McInnes (MD, NixonMcInnes) - his blog is here and his Social Measurement Camp is here.

- Robin Grant (Client Services Director, 1000heads) - he blogs on the Advertising 2.0 blog (Brand Republic)

Comments

[Andrea]

That´s why I love your blog. I looking to ask my "memoire" for for University and I want talk about Social Media Marketing...When 4 mounth ago I tell to a teacher assistent that we can have a ROI in social media he said me "No, for now is impossible". This is nice news that I can use for my "memoire" (sorry I don´t know in english).
Hope to have an interview from you a day eheheh...I very liked what did you do for Renault, me too I´m stager in an Automotive Marketing company, so I like read youtr post about.

[Sandrine]

@Andrea : thanks a lot for your comment - I'm glad I could help but most of all, it's really nice to receive comments such as yours as it feels like I'm not writing for nothing ;)