Social media's ROI: An open model for social measurement
Media measurement models need to be open, not secret, to be successful. Neil Major, at social media agency Yomego, discusses a collaborative approach to measuring social media and calls on the industry to join in.
You don't have to look deep into many media measurement models to find assumptions that don't stand up to scrutiny. Do research panels accurately measure real-world behaviour? Does advertising equivalent value point to a propensity to purchase? Does the RAJAR diary system represent the radio-listening habits of the rest of the population?
The point with all these systems is that they don't have to provide all the answers. Despite their limitations, they are credible models that, while perhaps not always offering objective scientific truth, are useful tools to frame effectiveness. They remain, even with their understood limitations, useful proxies to calculate the results of strategies when launched into the market.