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Jeremiah Owyang, Partner in the Altimeter Group and John Lovett, Senior Partner, Web Analytics Demystified have collaborated on a report published today titled Social Marketing Analytics, A New Framework for Measuring Results in Social Media. This is an area that many companies struggle with as they attempt to determine if their social marketing strategies are making an impact or not. It’s also an area with a fair amount of confusion in this market about how to best measure, report and track performance over time.
This report cuts through that confusion and delivers some great insights. Thankfully Altimeter has an open research policy where they freely share their research with anyone interested in downloading and reading it. Their first report distributed under the open research policy is also excellent, and is titled Social CRM: The New Rules of Relationship Management.
Balancing the Practical and Strategic
What makes this report worth downloading and reading is the great balance it strikes between the practical, conceptual, and strategic aspects of social marketing analytics. The report ties the business objectives of fostering dialog, promoting advocacy, facilitating support, and spurring innovation to key performance indicators. The link of objectives to measurable results is going to help many companies stay the course of social marketing by being able to quantify their results.
The Social Media Measurement Framework shows the relationship between business objectives, strategy, social marketing goals and strategy execution. The report walks you through how to use the Framework to capture and get the most out of the KPIs mentioned.
Bottom line: Altimeter and Web Analytics Demystified have delivered a landmark report on social marketing analytics that is both pragmatic in advice and strategic in the framework delivered.