I have been reading all the same white papers and following all the same discussion of Quantifying the Impact of a Social Media Campaign as well as experiencing it real time with social media campaigns I am part of.
As a social media consultant you need to be able to convince your clients that you'll deliver, and you need some way to measure success and failure.
Also establishing the influence of individuals and groups is a huge part of deciding where to spend resources during a social media campaign.
I like Jim's approach to the discussion. He picks apart several prominent opinions on the subject, but doesn't leave it there. He provides solutions, one of which that really caught my attention:
To move the social media index forward, we'll need a system that serves as the white pages of social media with RSS.
So I thought about my situation and how I would like to define my social media index and what my reach is.
As a social media professional I prefer my presence be high profile and this part of my online activity I am not concerned with privacy.
So I am going to start tracking my social media index and recording all my activities on the net and record this analyzing.
So I started up a simple study today using Google Docs as the tracking mechanism. You can check it out more at: QISM. I look forward to any involvement and comments from you folks.