New effort to standardize social media metrics

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The more metrics there are to measure social media success in a standardized way, the better, most marketers would agree. According to SmartBlog On Social Media, the Interactive Advertising Bureau has released a new document that attempts to codify social media categories and how they're measured in a consistent way. These definitions were put together by the IAB User-Generated Content & Social Media Committe, made up of representatives of 150 media companies. Do you think it's a step in the right direction?
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