I’d like to pass along a white paper that was sent to me (Thanks Connie!) titled Tracking the Influence (PDF download). It was written by Jeremiah Owyang of PodTech and Matt Toll of Factiva, and discusses various aspects of social media measurement. It offers a great overview, and properly identifies the importance of both the reach and influence of web conversations.
If your time is limited, I suggest starting on page 6 at the section titled ‘The Attributes‘. It’s these aspects, in my view, that really need to be accounted for. Raw metrics like ‘link counts’ and ‘Technorati rankings’ are important, but the ability to look deeper and identify the audience is when we really get into something powerful.
Like other businesses, law firms are now entering market discussions. It makes little sense to engage tactics like blogs and social networking without a strategy to measure the end result of those efforts. And no different than any other part of law firm management – it’s always worth measuring.
If I can pay a compliment to the writers, I would say this is the type of written product I can see in Stem‘s future; with my own legal market spin of course. :-) I’m also adding Jeremiah’s feed into my reader. Thanks guys!