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Do you think it's tough to measure social media? It might be simpler than you think.
Attention. The amount of traffic to your content for a given period of time. Similar to the standard web metrics of site visits and page/video views.
Participation. The extent to which users engage with your content in a channel. Think blog comments, Facebook wall posts, YouTube ratings, or widget interactions.
Authority. Ala Technorati, the inbound links to your content - like trackbacks and inbound links to a blog post or sites linking to a YouTube video.
Influence. The size of the user base subscribed to your content. For blogs, feed or email subscribers; followers on Twitter or Friendfeed; or fans of your Facebook page.
So what's the monetary value of a visit, comment, link, or friend? Well, the only honest answer is "it depends." Only you know how much these interactions matter to your brand, regardless of industry, channel, or competitive results.
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