NEW YORK – The advent of social media and its rapid adoption has created a seismic shift in the relationship between marketers and consumers. This transformation has brought with it a host of new tools and terms used to define and measure the platform’s value and impact. To deliver consistency into this rapidly evolving means of communication, the Interactive Advertising Bureau (IAB) announced the release of “Social Media Ad Metrics Definitions.”
The document divides social media into three distinct categories and defines the metrics specific to each type:
* Social Media Sites
* Blogs
* Widgets & Social Media Applications
Evaluating the most important measurement terms will help marketers, agencies and publishers quantify the value added by consumers as they distribute the content throughout their personal networks, one of the defining characteristics of the platform.
“Social media and its various tools have dramatically shifted the way consumers experience and interact with brands online,” said Randall Rothenberg, President and CEO of the IAB.
“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, Vice President of Industry Services of the IAB. “That will help marketers reach consumers, and measure that reach, more effectively.”
“With social media use now mainstream and new tools emerging daily, it is critical that we as an industry apply consistent metrics and definitions,” said Liza Hausman, Vice President, Marketing, Gigya. “The IAB and its members have done a tremendous service to the industry by bringing this consistency to the social media marketing landscape and this document will prove to be an excellent tool for marketers and agencies as they develop social strategies for their campaigns.”
To view the complete document, please go to: http://www.iab.net/socialmetrics
The IAB has taken a leadership role in defining and educating marketers, agencies and publishers on social media. The IAB will host its first IAB Marketplace: Social Media on May 18, in New York, bringing together industry-leading advertisers, publishers and platforms to tackle big issues and provide real-world, real-time solutions for leveraging social media.
To view the full agenda and register, please go to: http://www.iab.net/socialmedia2009
About the IAB:
The Interactive Advertising Bureau (IAB) is comprised of more than 375 leading media and technology companies who are responsible for selling 86% of online advertising in the United States. On behalf of its members, the IAB is dedicated to the growth of the interactive advertising marketplace, of interactive’s share of total marketing spend, and of its members’ share of total marketing spend. The IAB educates marketers, agencies, media companies and the wider business community about the value of interactive advertising. Working with its member companies, the IAB evaluates and recommends standards and practices and fields critical research on interactive advertising. Founded in 1996, the IAB is headquartered in New York City with a Public Policy office in Washington, D.C. For more information, please visit www.iab.net.
