One of the coolest things about business blogging is the social interaction and community that is built when readers leave meaningful comments. Like a good story, a post elicits a response from the reader. As your community develops, the value of your brand increases. But this warm and fuzzy feeling that people get about your brand as they interact with you on your blog can be hard to measure and quantify. That’s where blog interaction metrics come in.

Building a blog to one or more interaction metrics can help you focus on what’s important - brand engagement.

Do you measure a successful post by the number of readers, bookmarks added to del.ic.ious, diggs, comments, number or quality of backlinks, or a combination of all the above? Some metrics have a place in your blog marketing scorecard, like number of comments. And some do not, like number of trackbacks (unless you like counting spammers — and that you could do all day!). Because the last thing you need is just more data for the sake of data.

Avinash Kaushik came up with some really nifty blog success metrics that really resonate with me. I bet they’ll resonate with you too. They are:

• Raw author contribution (posts per month and words per post)
• Audience growth (onsite & offsite, visitors and unique visitors)
• “Conversion” rate (comments per post)
• Citations (blog inlinks, Technorati rank)
• Ripple Index (# of unique blogs linking to your blog)
• Cost (time, hardware/software technology, opportunity cost
• Benefit / ROI (comparative vs. direct vs. “non-traditional” vs. unquantifiable)

As you start measuring the above and then gauging the success of what you’re doing on your blog based on these metrics, you can tie your activities back to something more meaningful than just the “hits” you’re generating.

If you want to learn more about metrics, I encourage you to watch the archived recording of a “Website Metrics and ROI” webinar that Avinash and I presented last year. No registration required. Just click and watch (or download). It’s 100 minutes of the two of us talking about our favorite metrics — not just for blogging, but also email marketing, web marketing, search marketing, and more. And if you just want to scan over our Powerpoint slides before you invest 100 minutes of your time (and I don’t blame you — time is precious!), here’s the PPT file. Enjoy!

What blog metrics do you value most? How do your readers interact with you? Do you have any particular reporting tools you recommend? Your interactivity is welcome and invited.

So first let me dispense with the obligatory acknowledgment that I’m sorry I haven’t blogged here in ages. I have wanted to often, but one thing and another…

On thing I’ve wanted to write about is Twitter. I’m hooked.  So far, I’ve seen precious few Tweets (as I gather its adherents call themselves) use it especially well for business communication. Mostly people complaining about being stuck in airports. Like the rest of us might find that interesting. One who does a good job keeping the posts interesting and on topic is Steve Rubel, not surprisingly.

Another shout out I’ve meant to give is the IAB’s new blog, the IABlog, under the stewardship of the IAB’s new, compelling leader, Randall Rothenberg, who also has his own blog. I’ve gotten to know Randall a bit in the past several months, and he’s a fun guy, a great intellect (excellent panel moderator), a strong leader for the IAB and really interested demonstrating the new directions of online media with initiatives like the IABlog.

When you click through to the blog, you’ll notice a photo of yours truly serenading the original IAB chairman Rich LeFurgy.  The uke is my new hobby for the past year-plus. Soon I’ll have to do a round-up of the many photos like this that already exist of me playing the uke at industry cocktail parties on blogs around the web.

The real point of this post, though, is that I’m currently at the IAB’s Annual Meeting, Ecosystem 2.0, in Phoenix, AZ. So far, it’s one of the most exciting conferences I’ve ever attended, really. Attendee list is who’s who of the industry. As I type this (blazing fast free wifi in the conference hall; see, they get it!), Randall is interviewing Susan Decker, president of Yahoo! and Jerry Yang, CEO/founder of Yahoo! You can see the other speakers yourself here, but they are consistent with these two.

Steve Rubel is here and we’re both giving running commentary on Twitter, plus the IABlog is providing updates, too. Keep your fingers crossed that they’ll post videos of the content. Wenda Millard’s speech last night, accepting the mantel as new chairperson of the IAB, was really great. I’ll post the link of the transcript or video if it’s made available.