social media

As retailers rush to experiment with or engage in new forms of outreach to consumers for reasons of either peer pressure, or genuine opportunity (or some combination of both), the measurement of the efficacy of these programs becomes paramount. Never before have marketing executives received so much new budget with so little justification or proven ROI. The urge to spend these new funds before they dry up is compelling. The ability to continue these funds flowing will be completely dependent on proven success.

If the successful exploitation of social media/mobile commerce is in its infancy, themeasurement of the success of these new consumer outreach channels is in an even more embryonic stage. Nonetheless, analyzing success is entirely practical, by using some innovative new methods that apply to the online world of bytes, and repurposing some old ones that are well adopted in the physical world of bits.