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May 18, 2007

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Artorios

Along with Google Rank or Technorati Rank one needs to see where the blog ranks with Alexa, which is more accurate than the other two.

judah

Katie,

I've been working on extending a data model to incorporate measuring user generated content, and I welcome your feedback at:

http://judah.webanalyticsdemystified.com/2007/04/inspired-by-user-generated-content-web-analytics-and-wine.html

This may be more abstract than you need right now as I am working on it. Of course, the key to dealing with your CFO is identifying the ROI or NPV. I recommend you check out some of the work Jason Burby and Shane Atchinson at ZAAZ are doing with monetization modeling for non-transactional web analtyics.

Judah

Avinash Kaushik

Katie: The framework outlined here does cover Outcomes, perhaps I should have been a lot more explicit.

Rather than stay at Outcomes my recommendation is to measure ROI (essentially Outcomes / Cost).

So take these types of Outcomes from the existence a blog (quoting from the post above):


    * Sales driven to your e-commerce website from the blog
    * Reduction in the cost of PR because now your blog is so omnipresent and a big bull horn (for businesses this is big)
    * Number of paid conference speaking engagements
    * Job offers you get
    * Proposals for marriage
    * Increase in salary at work
    * and so on and so forth.

Each of these Outcomes can have a monetary value associated with it. Take that, divide that by your Cost (recommended metric # 5) and you have ROI. Your CFO will not just be happy you measured outcome, they will give you a warm hug that you went one step ahead and computed ROI. :)

Each of the other outcomes can also be measured, albeit with some creativity. For example: engaging employees / customers in a conversation can be measured with recommended metric # 3, Conversation Rate. If you want to do this well you would do two extra things:

1) Separate your comments by different sources (customers, employees, friends etc) and measure Segmented Conversation Rate.

2) Also read the comments and give them a quality score (5 = good conversation, 3 = ok conversation, -5 = blog is causing detractors!). This allows you to measure the quality of the conversation (using hopefully good judgment) along with quantity.

Measuring social media is a imperfect for now, but that is lots that can be measured with a small amount of effort.

Thanks so much for sharing your feedback.

-Avinash.
PS: The measurement of Technorati is in the context of trying to benchmark how you are doing as a part of the ecosystem, are you, through your great blogging efforts, having a impact.

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