This Week in Social Analytics #5

We’re kicking off a long weekend with another post from This Week in Social Analytics, our ongoing summary of some of our favorite posts from this week in the world of measurement, analytics and social media. Enjoy!

Your Web Metrics: Super Lame or Super Awesome?
Are you reporting lame metrics? Don’t! Avinash Kaushik writes that many traditional web and social media metrics only measure tactical, “top of the funnel” activity and inspire little value for business action or improvement. Avinash goes on to describe five awesome metrics – visitor loyalty/recency, days & visits to outcome, conversation rate (we love this one!), task completion rate and economic value that can help you understand the real impact of your activities on the business.

Stop Focusing on Bullshit Social Metrics and Start Focusing on Real Value
Keith Burtis takes to task metrics that either have no basis in fact, or those that don’t drive business value. Good conversation in the comments, too from Michele Hinojosa, Randy Zwitch and others.

Lies and Consequences
Katie Paine lays out some of the biggest lies told by measurement pros – whether they know it or not. Trust and credibility matter – understand what you are measuring and stick to the facts, even if uncomfortable.

Publicists Pump Up Value of Buzz; Don’t Believe the Hype
How much is earned media worth? Carl Bialik, the Numbers Guy at the Wall Street Journal presents a few examples from the riot kissers to Obama’s Guinness. Good discussion on the appropriateness of advertising value equivalencies (AVEs) in the comments from Katie Paine and others. And, Carl adds more color, quotes and comments in his post: How much is this Blog Post Worth.

AVEs Don’t Describe the Value of Media Coverage, They Sensationalize It
Don Bartholomew takes on the AVE issues raised in the WSJ article, continuing the call to end AVEs as a way to measure the value of earned media. “Measure outcomes and not (just) outputs.” Amen.