OMMA Metrics: Are the tools that we have for measuring Social Media adequate?

The resounding answer was "NO!!" at this afternoon's panel discussion on "The Social Media Measurement Quagmire Continues..."

Shiv Singh from Razorfish describes the core challenges as follows:
- Access to data (whether it be because of infrastructure or platform)
- Change in the digital (specifically social media) space is happening so fast that the investments in developing measurement tools are slow (slow to commit)
- Shortcomings on everyone's end in terms of too many people trying to apply traditional metrics/measurements to the online and social media space.

The bottom line is that not all users are equal, and the current tools are user agnostic - in other words, the tools treat all users equally. And we all know they are not.

So what to do? Until there are standards for online metrics, a hybrid approach of automated and human measurement systems is critical to and the key to success.

More from OMMA Metrics: MRM Worldwide working to define an "engagement score"

In a panel discussion titled "Cracking the Code" held today at OMMA Metrics, several panelists have been dicussing the evolution of the measurement models over the past decade. The metrics and models are changing quickly in the digital space, and the bar is being raised for marketers' ability to understand and utilize them.

Vipin Mayar from MRM Worldwide spoke about moving from away from ROI measures and towards engagement measures that effectively compare across channels and across time. He then spoke about an effort that MRM is working on to create an "engagement score."

Well, we all talk about engagement and how it can be measured. And we all know that we are not defining engagement in the same way. So the obvious question is "What is this 'engagement score'" and why is it better than what we're working with now?

An "engagement score" is a process by which we would be able to assign points to various "engagements." So different point values (based on objectives/priority) would be assigned to different engagements and interactions (like site page or content) and then linked to outcomes. The key, Mayar claims, is to "connect metrics to value creation."

A new way to look at engagement, but will it gain traction? Tell us what you think...