In the US, the Interactive Advertising Bureau (IAB) has released 'Social Media Ad Metrics Definitions' to provide consistency in the terms used to measure social activity.
With the growth of the social media space, IAB says that many publishers and vendors are offering supplemental performance metrics to their clients as an additional way to gauge ad effectiveness. The new guidelines have been designed to list all methods and act as a standard across the industry.
The document divides social media into three categories – social media sites, blogs, and widgets and social media applications – and defines the metrics specific to each type.
For site analysis, these include unique visitors, page views, time spent, video installs, relevant actions taken and cost. Blog metrics definitions – such as number of conversations per relevant site, author credibility, and the percentage of client-required conversation phrases posted – are also outlined in the document, which can be accessed here www.iab.net/socialmetrics .
'The terms and metrics we've laid out in this document will help marketers better understand the true ROI of participatory communication,' said Jeremy Fain, VP of Industry Services of the IAB. 'That will help marketers reach consumers, and measure that reach, more effectively.'
In February, the IAB released Audience Reach Measurement Guidelines to provide consistent definitions of key metrics for measuring web audience sizes.
The bureau, which exists to educate marketers, agencies, media companies and the wider business community about the value of interactive advertising, is online at www.iab.net .