On Measuring Corporate Blogs

I met Heidi Cohen at a media dinner in NYC in May. She writes for Clickz and recently posted an article on measuring the value of corporate blogs. It looks like the article (or site?) is sponsored, so there may be an agenda, but I found it to be an interesting read with a list of excellent suggestions.

Measuring ROI is not an exact science (although some claim it can be), so its often difficult for marketers and PR execs to get credit for waving the right flag and navigating a company into unkonwn waters that haven't been 'proven before.'

The discussion is about ROI applied to blogs, and how like any other part of the marketing mix, blogs should be measured. She lists a few key reasons for busienss blogs which I recap below.

1. To establish expertise. Many consultants effectively use blogs to raise their visibility with their target market.

2. Create alternative media. A number of publishers have built viable media outlets with loyal followings, as have companies that produce sponsored blogs, such as Gawker Media.

3. Extend corporate communications. Blogs enable companies to present a human face and voice to the public. The most notably example is Microsoft's Robert Scoble. (hey Robert, yet another plug :-)

4. Build community. Use blogs to grow groups around a technology, cause, political issue, or hobby related to your product.

She makes a great point about blogs needing 'time' to develop an audience. When I talk to people about blogs, why they should start one and what to expect, most want 'fast results.' Ah yes, the American way. Fast and quick. Give it to me now.

Says Heidi, "to calculate a blog ROI, convert these success indicators to a dollar equivalent and to look at how you value other marketing components and how you calculate their metrics."

She also suggests assigning a dollar equivalent for placements using the outlet's ad rates as a guide. I think this can be a tough one today, mainly because so few blogs today have the credibility and brand awareness of the New Yorker or the Wall Street Journal.

She gives this example to demonstrate how blogs drive site traffic in a trackable manner: the GoDaddy Super Bowl ad discussed on GoDaddy CEO blog.

There are some great things worth considering however. I think we need to just get blogs into the marketing mix (as a serious communications tool) and once they are an integral part of the program, measuring their impact and success will follow just like it already does for advertising, PR, direct mail, trade shows and other tactics.