MediaPost Publications CPSA: The New Pricing Model For Social Media? 08/04/2009 - The Diigo Meta page

• 25 Sep 09
  

  ifarmer Farmer

  metrics social-media

• 04 Aug 09
  

  Marcus Goodyear
  • CPC is tailor-made for direct-response marketers, while social media is centered
    on building relationships.
  • marketers shouldn't be driving a relationship-building vehicle on a conversion
    track.
  • 6 more annotations...
  • • engagement metrics translate well to various social marketing programs, such as
      time spent with a widget or percentage of a shareable video viewed.
    • social marketing, when done right, achieves something much different:
      relationships.
    • Cost Per Social Action (CPSA). It's for any action with a distinctly social
      quality that leads to either new relationships (such as through "viral"
      referrals or acquiring new followers and fans) or deepening existing
      relationships (such as through "likes," comments, responses, and ratings).
    • What's a social action worth anyway? The further anyone veers from reach and
      sales, the harder it's going to be to tie this into marketers' traditional
      metrics
    • I always envisioned the ultimate Social Media Marketing Metric being akin to the
      Slugging Percentage in baseball. Measuring all the major things that can be
      measured (impressions, clicks, content placement, pass-along, re-tweets,
      sentiment, etc.) and averaging them together to give a metric to a social
      campaign. The Slugging Percentage in baseball averages together Batting Average,
      On Base, Singles, Home Runs, etc. and puts a metric to how valuable a hitter is.
      A Social Media campaign can yield low impression numbers at face value (100's of
      Thousands) yet hit a target so precisely and activate them passionately that
      it's much more valuable than 100 Million impressions from banner ads or Google
      Ad Words. Just like a hitter who bats .280 and gets walked a lot is more
      valuable than a hitter who bats .300 and strikes out all the time.
    • the Banterithm for our party network. We use an algorithmic measurement system
      that logs every part of our party banter and engagement process. In the end, a
      party attendee is presented with an award for being the "life of the party", as
      calculated by the Banterithm.

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