Engagement - your new key metric

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Thanks to Social Media Playground for a post this week about the Forrester Research Marketing Forum 2008, and in particular the discussion about engagement being the new key metric for businesses to know and understand (see post here).

Forrester put forward a model for measuring engagement based on the “Four I’s”:

  • Involvement: KPIs including site visitors, time spent, page views
  • Interaction: the volume of contributions to blogs, UGC, reviews
  • Intimacy: survey-based measures of consumer attitudes, perception and feeling about the brand
  • Influence: the weight of the consumer, how likely they are to recommend the brand or be advocates

Forrester Engagement Metrics

These measures taken together can then be used to understand and assess the levels of engagement a customer has with the brand. For us, the interesting element here is the Influence measure - this seems to take the metric out of being a simple measure of how one customer engages with a brand to be a measure of the value of this engagement. A highly engaged customer who is also highly networked is of more value than one who is less well networked.

When you think of word of mouth and advocacy, this becomes a much more valuable measure!

Download an excerpt from the Forrester paper here.

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