Industry Groups Respond to Interest in Social Media
In the past year, time spent on social networking sites grew 73 percent, according to Nielsen Online. There are 87 percent more social media site users now than in 2003, and 883 percent more time is devoted to those sites. In fact, in February, social network usage exceeded Web-based e-mail usage for the first time.
In light of this growing usage, the Interactive Advertising Bureau (IAB) and the Direct Marketing Association (DMA) both have announced new initiatives designed to help publishers and other marketers quantify the value that social networks provide.
On Tuesday, the IAB announced the release of "Social Media Ad Metrics Definitions" to help ensure consistency regarding this rapidly developing communications tool. The document divides social media into three distinct categories and defines the metrics specific to each type: Social Media Sites, blogs, and widgets and social media applications.
“Social media and its various tools have dramatically shifted the way consumers experience and interact with brands online,” said Randall Rothenberg, IAB President and CEO. “The terms and metrics we’ve laid out in this document will help marketers better understand the true ROI of participatory communication,” said Jeremy Fain, vice president of industry services of the IAB. “That will help marketers reach consumers, and measure that reach, more effectively.”
On Monday, the Direct Marketing Association announced the launch of its new Social Media Council (SMC) to uncover new opportunities in digital marketing. The SMC will enable marketers to share online experiences, learn from experts how to best utilize the social media channel in establishing and promoting brands, and successfully integrate social marketing into an overall marketing plan.
Founding SMC members include Robin Bordoli, Founder and CEO, HeadMix; Sevren Maynard, Founder, Co-Operative Labs; and Peter Daboll, Chief Executive Officer, Bunchball. They will establish a Council Advisory Committee, which will work with the DMA to create events, programming, education and more in the areas of social and digital marketing.
“We have already been working with DMA members, such as Best Buy, helping them bridge their internal communication gaps and get closer to their customers through all their employees. We look forward to working with all DMA members to help them identify where they can benefit from the adoption of similar social approaches,” said Bordoli.
For more information about the SMC, contact Neil O’Keefe, DMA’s vice president, Catalog & Multichannel Merchant Segments, at email@example.com.