She recently pointed to a blog post called "Ten Ways To Measure Social Media Success" by Chris Lake. What I found most valuable was the tip about getting a baseline measurement before you begin. A baseline is a measurement that you can use as a comparison to measure progress against a goal or do before/after comparisons. Chris suggests:
Before you start the clock it is a good idea to benchmark where you’re at...
- Make a note of the obvious numbers (number of Facebook fans, Twitter followers, Digg links, Delicious bookmarks, and referrals from social media sites, plus existing website traffic).
- Make a note of the less obvious benchmarks (such as SEO rankings and referrals, customer satisfaction scores and other business data).
- Make a note of ROI benchmarks. How much are you
paying to acquire customers via other marketing channels? How vast is
that advertising budget, and how is it being split up? And what
proportion is being directed into channels that you cannot accurately
There is a comment in the post from Dan McQuillan who has been mulling over measurement of social media from the nonprofit perspective. His post "The Apollo and Dionysus of digital evaluation" talks about finding the right mashup between numbers and stories using mythology metaphors.
Dan points over to the Measurment Camp Wiki that I need to explore further.