Today’s marketers are under more pressure than ever to deliver results. Positive, verifiable results. Yet, when it comes to influencer marketing and social media marketing campaigns, a common question being asked is whether the ROI can be proven.
It’s no wonder CMOs doubt the validity of results for word of mouth marketing campaigns since the industry is not yet using standardized metrics or measurement practices, and some overzealous agencies and analysts are projecting grossly exaggerated reach.
WOMMA is addressing this issue head-on. Following the landmark Return on WOM research study facilitated by WOMMA in 2014 that quantified the true value of word of mouth compared to other marketing and media, in 2015 WOMMA co-developed the Media Rating Council’s (MRC’s) new social media measurement guidelines, along with the 4 A’s and the IAB. And now, this year, we are working on ways to raise awareness and help marketers understand and apply the new social media measurement standards.
Here is what WOMMA is doing this year to bring reliable measurement to word of mouth marketing.
- Our Research and Measurement Council is developing a "Quick Guide" to translate and augment the new social media measurement standards for marketers.
- WOMMY award submissions will now incorporate the new measurement standards.
- WOMMA’s TALK Measurement event in NY brought together top-notch thought leaders and nearly 100 dedicated practitioners to focus on this topic.
What are the new MRC measurement guidelines? They are a set of definitions and practices designed to help everyone speak the same language when it comes to measuring and reporting social media results. Authorship, engagement, reach and cost metrics, among others, are covered in detail. One important guideline to remember is that methodology for data collection, measurement and projection should be transparent.
Positive results, reliably measured, repeatable and scalable, can lead to healthy growth. Marketers looking to build successful word of mouth marketing campaigns should know and employ best practices in measurement.
Three key principles of best practices in measurement:
- Don’t overreach when reporting reach
- Different types of engagement have different value
- Fully disclose assumptions, projections and sources
Got questions or word of mouth measurement challenges? WOMMA can help.
WOMMA provides education, resources and thought leadership to help marketers learn and use best practices in Research & Measurement, as well as in the areas of Influencer & Advocacy Marketing and Ethics & Compliance. Let us know your questions or measurement challenges by commenting below.
P.S. — You’re invited to join the conversation at our upcoming TALK Ethics event in Washington, DC: “The FTC, Native Advertising & Consumer Privacy: Expert insights on what's new and what’s next.”
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