That said, however, pageviews and even unique visitors are only a couple of the factors that media entities need to be concerned about — as I tried to argue in this post (check the bottom for recent updates), based on the Twitter debate between Reuters writer Felix Salmon and Business Insider founder Henry Blodget — and neither one of them is arguably the most important. Yes, they are the metrics with the largest numbers, and so they impress some advertisers and possibly some competitors. But they are also subject to inflation by girls kissing and slideshows, as Felix noted in the tweet that started his battle with Blodget.
Denton says he agrees that pageviews and uniques aren’t the best measures, and asks for others that are better. Okay, Nick — what about time spent with a story? Why not put that up on a big-screen TV on the wall? What about the number of repeat visitors that a writer gets over a month? Or what about the number of comments on a story, multiplied by the number of times a writer actually responds? Gawker is one of the most forward-thinking sites on the Web when it comes to comments and how they are managed, and from what I have seen their writers — particularly Denton himself — are good about responding. That’s a far better metric of value in my books.
Soon, advertisers will realize that chasing after raw pageviews and
big unique visitor numbers is a mug’s game, and one that Demand Media
and Associated Content and similar content factories will win every
time — and arguably many advertisers are already realizing this,
which is why CPMs generally suck. So what starts to matter more?
Engagement. Admittedly, it’s difficult to measure (let alone define),
but that doesn’t make it any less valuable.
Update: In a tweet to me, Nick says that comments are “a horribly misleading measure, e.g. commenter delight at a blog squabble is inversely related to wider appeal.”
Mahendra Palsule also has a thoughtful post about the move from number-based metrics such as pageviews and CPMs to relevance-based measurement and tools.