I did bookmark this a day or so ago on delicious and subsequently discovered that Katie has done an excellent presentation which we can now share. It's great if only for further stimulating the debate on social media metrics but equally opens up the increasingly important conclusion that the elusive measurement methodology we seek, may well not be the cast iron approach we've been used to in the past with frequency and reach.
It should involve some common sense, creative problem solving and untried combinations of quantitative data, with in my mind, qualitative classification of engagement too.
I think one of the Tweets that Gavin or Katie gave out was something about social media measurement being as "easy or as difficult as you want". This sounds eminently sensible to a creative planner more interested in execution than spreadsheets of what are invariably inconclusive and contradictory data (That we often see nervous clients can never get enough off).
I've been mulling over an approach that any day now is threatening to materialize into a seminal (and wildly popular) post about the topic and which I've mentioned, here and here in the comments.
It might well include an unusual methodology for combining pre-billing and post communications efficacy measurement. Recombinant invoicing if you will.
This of course is a wild and probably foolhardy attempt at publicly committing myself to actually spilling some of the stuff that has been going on in my head apart from the the notion that scarcity of disposable income theoretically shreds the need to advertise in the ways we have been programmed to accept as the norm during the 20th and early 21st century.
In the mean time check out the presentation that Katie has done for us.