New Metrics for New Media: Analytics for Social Media and Virtual Worlds at Stanford

Stanford

I’m going to be on a panel at the New Metrics for New Media Workshop at Stanford University on August 6th, in Palo Alto. The event is organized by Martha Russell, Associate Director of Media X at Stanford, and Marc Smith, Sociologist and Chief Scientist at Telligent Systems.

Some details about the event here:

The conundrum of the participatory media culture is that participation is expected, but continuous, dedicated attention cannot be assumed.  Legacy audience media metrics, such as CPM (cost per thousand) and CPI (cost per impression), have broadcast media as their reference. These metrics were developed because channel developers, advertisers and their clients needed to quantify the cost/benefit of media purchases. At the time they were developed, these legacy metrics assumed that each channel delivered media to its audiences (individuals, family, etc.) in a singular fashion.  The legacy media metrics assumed that each media exposure occurred in isolation, that viewers were attentive, and that viewers’ attention was dedicated to a single medium.

Consumer generated content has further complicated the differentiation of purchased media (space in the media that is purchased by advertisers) and earned media (space in the media that is acquired without payment through journalistic and public relations efforts).  To more accurately measure the quality and quantity of viewers’ engagement, the distinction must also be made between assumed attention, in which audience metrics count the number of people who could potentially pay attention to a message, and earned engagement, in people actively choose to pay attention.

Social media and virtual worlds offer two important frontiers for measuring earned engagement. In both, audiences are actively engaged as participants. This workshop will cover foundational concepts in media measurement, describe new frontiers in measuring audience engagement in social media and virtual worlds, and provide hands-on experience in using new analytical tools.

I’m involved in this session:

Day One:
Media usage, measurement and analysis: legacy concepts, forces of change, emerging metrics for social media and virtual worlds, and the creative tension of academic and business influences.

Given my Enterprise 2.0 focus, and in particular, our work with Sales and Marketing groups at large organizations, I plan to focus on how businesses can accelerate performance via new forms of insight, brought about by social media analytics. Something that’s integral to overall Enterprise 2.0 enablement.

Full details on the event and a short video by Martha and Marc available here:

http://mediax.stanford.edu/WSI/metrics.html

If you would like to see specific data points covered, chime in in the comments or drop me an email.

Hope you see you there.

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