ImpactWatch Blog

Slow week, but I’m working on the Top Posts of the Year from the past 52 Top Posts of the Week lists. Please add a comment with anything that I missed. Also, Dear Mark Evans, please stop cranking out amazing blog posts every day. It is making the rest of us look bad :)

• How Much Does Social Media Cost? – Sysomos

• The Barcelona Prinicples of Measurement – Katie Paine

• First global standard of proving value of PR created at European Summit on Measurement – PR Week

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• Three ways to act on your social media monitoring – Social Media Today

• 52 Questions To Ask When Hiring A Social Media Company – Outspoken Media

• Six real ways to measure social media – Meme Burn

• How ‘BT Sarah’ spies on your Facebook account – Daily Mail. [The Daily Mail is often silly-bazilly but this is clearly meant to alarm readers who are less web-savvy. I propose higher webucation.]

• Revolutionizing Corporate Communication: 6 Tips for Integrating Social Media – Huffington Post

• What if Social Media Isn’t Working? Then What? – Sysomos

• 5 Questions You Need to Ask Yourself When Creating a Social Media Report Template – Lauren Fernandez

• PR measurement was never meant to be an exclusive club – Rebecca Denison

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Photo: Bluedharma

Obviously social media has been steadily growing in popularity these past few years so it’s hardly shocking that companies taking notice. But a survey of 600 companies found that 73% are using a tool to measure their social media activity and reputations. That’s pretty good.

27% of the companies admit to doing no measuring whatsoever, but that doesn’t mean they aren’t monitoring (Guys? Please tell me you’re monitoring.) A little over half of the companies have paid for media planning and competitor analysis services.

Companies are also shifting resources from technology to staff. Internal staff now accounts for 53% of web analytics budget, compared to 42% last year, while technology spend has dropped 8% to 30% of total budget. Hopefully this shows that companies are finding effective tools that put the right data in the hands of employees who can act on it… and it doesn’t mean that companies need additional employees to sift through a bunch of unfiltered data (Guys? Please tell me you’re filtering).

Either way, companies are no longer shelling out for analytics that pile up without being analyzed or implemented in business planning. These numbers also show that media monitoring is being recognized as essential and included in the overall analytics budget and strategy.
-Stuff the researchers pointed out:

-) Two-thirds of companies (65%) have paid for online survey technology, while just over half (51%) have paid for media planning and competitor analysis services. Despite the increased importance of the mobile channel, only 12% of companies are paying for mobile analytics tools.

-) A quarter of companies (26%) are using multivariate testing (MVT) and optimisation tools, and this is the best-performing business tool from a return on investment perspective. Two thirds of companies (66%) using MVT report a definite bottom-line improvement to business performance.

-) Lack of budget and resources is the most significant barrier to an effective online measurement strategy, according to 57% of companies surveyed. This is now more of a problem than last year, increasing by 12% from 45% in 2009. The biggest factor cited as a barrier by agencies is still the lack of understanding by clients, although this is now less widely seen as a problem compared to last year.

Econsultancy and Lynchpin 2010 Online Measurement and Strategy Report
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• 46% of B2B Marketers View Social Media Engagement as Irrelevant - Hubspot

• 13 Truths About Social Media Measurement – Altitude Branding

• Outsourcing Customer Response: Transactions vs. Relationships – Radian6

• Social media monitoring review 2010 – the final report from Fresh Networks  and a review of the report by Marshal Sponder who has also done tool comparisons – Some thoughts about Turning conversations into insights: A comparison of Social Media Monitoring Tools by FreshNetworks

• Automated sentiment analysis gives poor showing in accuracy test – Research Magazine

• Human Analysis in Social Media Monitoring: 5 Simple Steps to Navigate a Sea of Records – Social Conversations

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OK, more like top posts of the month at this point. I have been out for vacation and on the disabled list these past few weeks. I know, I know… I missed you, too. But I did keep up with the best in media monitoring news and here it is:

• Why You Shouldn’t Trust Automated Sentiment Scoring – Jason Falls

• Measuring the ROI of social CRM no easy task – SearchCRM

• The Debate About Automated Sentiment Analysis – Seth Grimes/ Intelligent Enterprise

• Are we there yet? Diagnostic versus objective social media metrics – Christopher S. Penn

• Social Media Expert: Free Social Media Monitoring Tools – Social Media Expert

• Social Media Monitoring – Vesta Digital

• Marketing Analytics: How Do You Decide What to Measure? – Hubspot

• Using Social Monitoring to uncover the Analytics of Geolocation – Smart Data Collective

• Why is clippings still a PR metric? – Hill & Knowlton

• 5 Reasons Your Social Media Strategy Will Fail – Adweek

• Media Measurement: A Long Term Investment – BurrellesLuce

• Longitudinal Social Media Monitoring - BrandSavant

• PR people can measure social media. We just need to learn – Next Communications

• Social-Media Listening vs. Social-Media Monitoring: Truly Connecting, or Merely Collecting? – Marketing Profs

• I’m 100% Convinced that 50% of PR and Social Media Metrics Are Wrong – Katie Paine

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• Where Social Media Monitoring Services Fail – Jason Falls

• What Good are Your Social Media Metrics? – Catchfire Media

• 10 Social Media Monitoring / Analytics tools for Measuring Social Media – Technospire

• Social media monitoring review 2010 – Test 1 results – Fresh Networks

• Social Media Measurement in the Real World – ClickZ News

• Social media measurement: the experts at work – PRWeek

• Implementing social media: brand monitoring – Alex de Carvalho

• 10 Social Media Monitoring / Analytics tools for Measuring Social Media – Mani Karthik

• How will we measure it? Social media vs. advertising – Katie Safrey

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• Social Media Marketing for Beginners #1: Listening and Brand Monitoring – Conversation Media

• Good PR Measurement Is All About Good Goal Setting – BurrellesLuce

• Picking a new social media monitoring service – Jeff Esposito

• Thinking it Through Some More: More on What Else? Social CRM – Enterprise Irregulars

• Social media measurement: the experts at work – PRWeek UK

• 10 Key Sales Metrics to Track – Amber Naslund

• The Basics of Social Media Monitoring – Social Media Today

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• 10 Key Content Performance Metrics to Track – Radian6

• Comparing Social Media Analysis Platforms – Social Media Today

• A little bit of good news from the PR News Survey on Social Media Measurement – Katie Paine

• 5 Easy Steps to Creating Reusable Social Content – Jay Baer

• Scaling Social Media – Chris Brogan

• Defeating the Dark Side of Social Networking - BusinessWeek

• Three Reasons Measurement is Useless Without Goals – Teresa Basich

• Greenpeace vs. Nestle: How to make sure your Facebook page doesn’t become a PR trojan horse – The Brand Builder

• The New Media Metric: How Shareable is Your Content? – BNet

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• 10 Key Awareness Metrics to Track – Amber Naslund

• 5 Tools For Monitoring Social Media – Ask Enquiro

• How PR Pros Are Using Social Media for Real Results – Mashable

• Manage your statistics without becoming one: 10 easy but vital steps - Katie Paine

• The fast food approach to social media – Mack Collier

• 20 Free Social Media Monitoring Tools to Find Your Brand’s Social Mentions – Steve Farnsworth

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