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I absolutely agree that what's being said is more important than the volume. However, it's not "all about" what's being said about you.
I think you're missing out on another important issue - who's saying what.
Using the universities example, is it their current students who are talking? Would-be students sharing their thoughts on where to go? Their parents? Alumni with fat checkbooks?
You should have a different communications strategy for each of these audiences, and measurement should account for that.
Posted by: Elad Kehat | April 15, 2009 at 06:05 AM