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Having been to numerous Econsultancy Roundtables in London, I was chuffed (very pleased) that my schedule allowed me to participate in Econsultancy’s Measurement & Metrics Roundtable at the New World Headquarters in New York last Thursday.
It was quite different from those I'd attended in London...
In this post, we'll be looking at the top mistakes we've seen email marketers make in 2009, packed full of useful tips and unusual analogies.
Imagine logging into your email every Monday morning to find a report clearly outlining the value derived from all the time, effort and resource you’ve expended on the social web. That would be nice wouldn’t it? Seeing what impact of all that faffing about in Facebook; Twitter twaddling and blog blabbing has done for your brand would be invaluable.
But what would you want to see (at a high level) in such a, currently fictitious, report? And who is best placed to provide it to you?
Such a report would certainly save a lot of time. The process of collecting and correlating data from several sources; then trying to make sense of it all so that it can be used to plan an effective brand engagement strategy is time consuming to say the least. For what it is worth, this is what I’d like to see.
Social media measurement is something that I think should be undertaken with a sense of perspective, by standing back and looking at the big picture.
A widescreen approach to social media measurement ultimately looks at the things that really matter: sales, profits, customer satisfaction and loyalty. Besides, honing in on the detail might not be the best use of your time, given the obvious difficulties that arise, particularly with attribution.
But standing back and looking at the bigger picture is not going to be enough for your data-mad boss, is it? It’s a bit too soft focus, right? He or she is going to want to see proof that all this social optimisation is actually working.
If that’s the case, then don’t worry: there are lots of things you can measure...
Most brand advertisers accept that the click-through rate is far from the perfect metric. But it's easy to understand and easy to measure, which offers some comfort. And that means that the low click-through rates (CTRs) associated with display ads aren't always so comforting.
Even though it's logical that there's more to display advertising efficacy than CTRs, the absence of widely-accepted alternative metrics is a problem.
When you read a news story about social media or come across a job posting for a 'social media expert', chances are the tools of social media will be front and center.
Twitter, Facebook, MySpace. If you had no exposure to social media, you'd probably assume that these popular services were the end all and be all of social media.
Online, it's all about measurement. From web analytics to advertising, the current economic environment demands it because without measurement, it's all but impossible to calculate ever-important ROI.
Increasingly, 'engagement' is one of the metrics that everyone is interesting in measuring. How are users interacting with your content or ads? How does that relate to your bottom line?
The Online Publishers Association (OPA), following closely in the footsteps of the IAB, is hoping to spark a creative revolution of sorts in online display advertising. To that end, a number of the OPA's high-profile members will introduce three newer, bigger, and more interactive ad units this summer.
The ads are even taking a page from the content side of the online equation: each will feature a forward-to-a-friend button.
I’m delighted to have been asked to be a panelist at Social Media Influence tomorrow.
I’ve attended every year since its first carnation 4 years ago as Blogging4business. Inspiring speakers such as Antony Mayfield, Suw Charman-Anderson, Hugh McLeod and Struan Robertson thrilled us with their visions of how business should embrace a brave new social media world.
When Wenda Harris Millard talks, the industry listens. As well it should. One of the smartest, and most formidable executives in interactive advertising, Wenda is co-CEO of Martha Stewart Living Omnimedia, following top executive positions at Yahoo, Ziff Davis Media and DoubleClick (to name but a few). Credentials don't get more impressive than her résumé in interactive advertising.
At her keynote at the IAB's annual summit in Orlando this weekend, Wenda called for a new era in online advertising; one in which measurement, metrics, analysis -- in short, the science bit of the advertising equation, take a back seat the art part: big ideas, killer creative and "the sizzle, not the steak."
Her plea is very much in line for her exhortation last year at the same event, when she called on marketers "not to trade our assets like pork bellies."
When I read the word 'Silo' I recall the massive industrial grain storage silos that used to scare me as a child.
Having grown up on a UK TV diet of Doctor Who, Blake 7 and The Tripods, anything that looked vaguely like an enemy spaceship became the subject of irrational fear and bad dreams.
These days I fear silos of a different nature.....
Are publishers using outdated metrics? How should they be innovating and reinventing their business models?
Understandably there has been much debate of late around publishing business models. The rise of the internet, compounded by the global economic woes, are making it increasingly hard to see where the money is in publishing and media going forwards.