The Interactive Advertising Bureau (IAB) has released the Social Media Ad Metrics Definitions (pdf), a document whose objective is to help "marketers better understand the true ROI of participatory communication," stated VP-Industry Services Jeremy Fain.
The sheet divides the social media landscape into three major categories (and associated metrics):
- General Social Media Sites. Quantifiers include: unique visitor, cost per unique visitor, page views, return visits, time spent.
- Blogs. Quantifiers: conversation reach, number of conversation relevant sites, content, freshness, relevance.
- Widgets and Social Media Applications. Quantifiers: number of installs, number of active users, longevity, user profiles.
As always, the IAB's hypothesis is that adoption of social media practices will increase once a quantifiable metrics standard is widely adopted and understood.
In other recent hijinks, the Bureau released the Impression Exchange Solution, which identifies the core requirements necessary to the automated exchange of impression data between publishers and third-party ad servers. It is also working on reconstructing interactive ad standards in general.