Two days ago Dan Zarella authored a piece in the Harvard Business Review, "How to Calculate the Value of a Like," in which he presents a formula for calculating, yes, the monetary value of a Facebook like. The reaction has been fast and furious: read the comments on the article, and Olivier Blanchard's extensive response on his Brand Builder blog.
As you will see, Mr. Zarella has been thoroughly chastised for daring to present his formula. (I think people are perhaps being a little too quick to pig pile on the guy. Hey, he never promised the Unified Theory of Social Media.)
It's a great food fight to review, because the topics and arguments tossed back and forth reflect much of the huge challenge and frustration of measuring social media. Just what about social media interactions are of value, and how do you go about measuring that value? What is value, anyway?
And, finally, what's the best way to write a blog post that presents dramatic content while at the same time promoting your own business? Both Dan and Olivier are experts on that one. --Bill Paarlberg, Editor, The Measurement Standard
(Thanks to MD Nexus for the image.)