Myths Of Social Media

Last week I told you that I would be starting a new book about social media. That book is called "Measure What Matters" by Katie Delahaye Paine. I am going to review chapter one today. I will be skipping around the book for my blogs but I thought I would just start at the beginning.

In chapter one Katie talks to us about the common myths there are when it comes to measurement. She talks about how measurement is important but asks the questions, "If measurement is important then why isn't everyone doing it?" She tells us about the reasons people tend to not use measurement.

MYTH #1: Measurement = punishment

People think of measurement as a punishment because they think it will show the flaws in their company. They are afraid that they will unmask something that they will have to deal with in the long run. Katie tells us that the truth is that you need to find the things are not working for you, but that is a waste of money in the long run. You also might unmask the things that are working well for you and you can enhance it.

MYTH #2: Measurement will only create more work for me.

Katie thinks that everyone sees measurement as a task that is too hard to finish. This task then gets pushed to the bottom of the to-do list. This is all wrong! Katie reports that if you have a measurement system in place then it actually will create less work in the long run. She tells us that you will have all the data you need at your finger tips. This will help you see what you need to cut and what you need to add to make your business more successful.

MYTH #3: Measurement is expensive.

Katie tells us that the number one reason people are not using measurement is because they think they can't afford it. In reality, they can afford it and it can save them money. The author informs us that having measurement data will give you a better idea of what you are spending your budget on and if it is working for you.

MYTH #4: You can't measure the ROI, so why bother?

ROI is term that means return on investment. Katie tells us that just because something is hard to measure, does not mean it is impossible. She tells us in the book that there is a way to measure ROI but it can be complex.

MYTH #5: Measurement is strictly quantitative.

Katie explains that the only kind of measurement that works uses both quantitative and qualitative data. To understand your success you need to measure what the author calls "revenuetionships". This is both the revenue you bring in as well as the relationships and the reputation that build with your public.

MYTH #6 Measurement is something you do when your program is over.

The author does not have a lot to say here but she tells us that people tend to think of measurement as an after thought but in reality you should start a measure program at the start of your company.

MYTH #7 "I know what’s happening: I don’t need measurement"

Katie agrees that she tends to hear this from people that are successful but she thinks you can be ten times more successful if you would use measurement to look closer at your business.

This was just a small portion the big picture and chapter. I encourage that you read this book if you have any questions about how measurement can enhance your company.