11:00 AM - 12:00 PM
Hosted by WOMMA
Masterclass Room 2 - The Merchandise Mart 222 W Merchandise Mart Plaza Chicago Illinois 60654
The Media Rating Council (MRC) has released a set of guidelines for social media measurement, marking an important milestone in our industry’s coming of age. Here’s why you should care.
An Important Step for WOM:
For the first time ever, social media practitioners will be held to common standards that have been codified by the MRC and the marketing industry’s most influential bodies, including WOMMA.
Prior to the release of the guidelines, social media measurement was fraught with complexity and confusion and it was difficult to ascertain which metrics should be considered, and further, how they should be measured. The guidelines provide marketers with a set of standardized terms from which to base their social marketing efforts.
What the New Guidelines Cover:
The guidelines outline definitions and best practices for all players in the space to consistently use. There’s quite a bit to them, but from an earned media point of view, just the clarity they bring to reach metrics, for example, go a long way.
As an example, the guidelines draw a clear distinction between potential reach (that is, the total number of friends or followers that authors of posts have) vs. estimated actual reach (the estimated number of people who actually see the post). You can read the complete guidelines here.
Social Media Takes the Spotlight:
The rise of social media has given marketers a massive opportunity to drive word of mouth, which study after study has proven the most powerful form of advertising. And last year, WOMMA’s landmark, multi-brand, market mix modeling study, proved that WOM is in fact 5 to 200 times more powerful than paid advertising. But the lack of standardized measurement and accountability has kept marketers from investing in social marketing in full.
From TV in the 1960s to digital display in the 1990s to mobile in the early 2000s, all emerging media have had to standardize measurement in order to reach their full potential as marketing channels. It’s social media’s turn. These guidelines set us on our way.
Venue & Location
Masterclass Room 2 - The Merchandise Mart222 W Merchandise Mart Plaza
Chicago, Illinois 60654