Getting beyond the buzz: Is your social media working?
Figuring out what your earned media is worth – a Social GRP Digital media comes in three flavors: owned (e.g. your website); paid (banner ads you buy on other sites); and earned (what people blog or tweet about you). Earned media is of particular importance because of the amplification power of social media so we set out to isolate its value. As a model, we took TV advertising’s GRPs (gross ratings points) – a function of the percentage of target audience reached by an ad and the number of times viewed on average. Marketers can plug this GRP into marketing mix models (MMM) that analyse the effectiveness of each marketing channel. Social needs its own GRP so that marketers can calculate the relative value of earned media. The Social GRP metric must account for three elements: Effective reach. Currently the most used social media activity measurement is ?? ?'W???( ?'W?????vWfW"??V7W&W2F?R?V?&W"?bV??RF???r?"w&?F??r&?WB'&?B?"&?GV7B?( ???WF?>( ??'WB??BF?R?V?&W"?bV??RW??6VBF?F?W6R?W76vW2?( ?W?V&??>( ???N( ?2w&VBF??fR?Gv?GFW"f????vW'2'WB?bF?W?F??( ?B&VB??W"GvVWG2?F?N( ?2V?G?'W???B?BF?W6?( ?B?fR?V6?6?W2??7B?&V6??GFW'2????b??W"VF?V?6R?7FV?2F??"&VG2v?B??^( ?&R6???r?VF?V?6R&V?Wf?6R???B??'W???27&VFVBWV????W"?W76vR?2???2VffV7F?fR2F?RV??R?B&V6?W2???v??R?f?"W???R??Bf?"??v?V?B6"F?B6WG2?fb7F?&??b6?6???VF?'W???'WBF?B'W??GW&?2?WBF?&R??V?r??W2v??vV?W&??6?( ?Bff?&BF?'W?F?R6"F???r&?WBF?R?W6?2G&6???F?RB?F?B???B?b'W???2f?'GV??W6V?W72F?F?R6"6?????6V?F??V?B??V7W&V?V?BVff?'G2?VVBF?F?RF?R6???W??G??bF?R6?6???VF?6??fW'6F?????F?66?V?B?V???REbGfW'F?6??r?v?W&RG2FV?fW"?6?F?fR'&?B?W76vW2?6?6???VF?&?vW27&?72?6?F?fR??VvF?fR??B?WWG&?6V?F??V?G2?f?"F??2&V6?????R?VVBF?6?7V?FRF?&VR6W&FR6?6??u%2f?"V6?6V?F??V?B&V6W6RF?W??fRF?ffW&V?B??7G2??6?W2?6??r?RF?R6?6?????W?F??26?6??u%?2?&VG??V?VB6????W2&WGFW"??vRF?V?"6?6???VF???fW7F?V?G2v?F???F?V?"?fW&???&?WF??r??F?G&?fR6?W2????RW???R???FW&?WB'&?F&?B&?f?FW"vF6?VB?Wr7W7F??W"7V?6?F???26??rF??V?66WF&???r6RFW7?FR6?v??f?6?B??fW7F?V?G2??G&F?F?????VF???76W76?V?B?bF?R6?6??u%6??vVBG&V?V?F?W2??V?B?b?VvF?fR6V?F??V?B26?????G2&?WB???rv?F??rF??W2??F?R???R?V???RvV?Bf?&?F?&?Vv?6?6???VF??gFW"6?7V?F??rF?RVffV7G2?bF?R?VvF?fR6?6???VF??F?R6????v27GV??VBF??V&?F?BF?R??72???FV?F??7W7F??W'2v26??6RF?CCV??v??6???&RF???fg6WB????7&V?V?F?7W7F??W"7V?6?F???2vV?W&FVB'??V?F???????F???"EbGfW'F?6??r6??v??v?F?F??2V?FW'7F?F??r?bF?R??7B?b6?6???F?R6????V?6????fW7FVB&?WBC?F???&?fR7W7F??W"6W'f?6R?BGW&?F?R6V?F??V?BF??V6???&R?6?F?fR?????&R???'F?F??7W7F??W"7V?6?F?????&?fVB?f?"6????W2F???R??f?&?VBFV6?6???2??F?R6?6??vR?F?W??VVB?&Bf7G2?B6???7F?6FVB??F?72?6?6???VF?6??????vW"F?&?fR??'W?????R?P???