The days of whimsical experimentation have long gone. Nowadays, marketers have to justify every budget line with robust KPIs, solid business cases or definitive break-even/ ROI analysis. Not so easy when it comes to evaluating that ‘fluffy social media stuff’ but if we genuinely want this to be taken seriously it’s imperative we start making it much more accountable.
More accountability, more standardisation
But for this to happen there really needs to be a degree of standardisation across the industry so that we’re all talking the same language (or at least singing from the same ‘karaoke machine’!) But the truth is there’s currently too much inconsistency in the industry to draw any salient or meaningful conclusions. As it stands, it’s almost impossible to benchmark our respective activity as everyone is measuring performance differently. This is compounded by the fact that social media is so versatile, diverse, complex and multi-faceted, spanning many disparate objectives and many different platforms - no wonder we’ve struggled to find a common methodology which works across everything.
A step in the right direction
What I’m about to share with you may not address all these challenges but will hopefully move us in the right direction. TMW have been working in close consultation with the IAB Social Media Council to develop a new measurement framework to help practitioners evaluate their social media activity more effectively and consistently. It’s not rocket science. In fact, it’s a very simple framework, designed to be flexible enough to be applied across a broad spectrum of social media platforms, whilst at the same time giving practitioners the freedom to use their own experience and expertise to choose the most appropriate KPIs.
Rather serendipitously, the measurement framework we’re proposing shares the same acronym as the Internet Advertising Bureau, so at least it’s dead easy to remember!
You can view the full presentation of this approach below.
The Council plans to officially promote this framework to the wider industry in a couple of weeks, but it would be great to get some feedback to ensure this is a collaborative effort. What we’ve outlined may not suit everybody but we believe it’s a step in the right direction and would encourage as many practitioners as possible to adopt it where they can. The more aligned the industry becomes, the more accountable social media will become and the easier it will be for all of us to digest the complexities of social media measurement.
Surely that’s something worth striving for?