“In today’s highly connected global business environment, the way people communicate, find and share information – and work together – has changed dramatically. In 2012, social analytics tools will become the must-have to gain insight; make better, faster business decisions; and improve customer satisfaction. Whether it’s [the] analytics of an internal social network, or gaining customer insight through analysis of external social networks, organizations will increasingly rely on social technologies to listen, examine and connect to act.” – Alistair Rennie, general manager of social business at IBM
A recent post from GigaOM noted that many are facing the challenge of measuring social media ROI – but offers help in identifying metrics to evaluate the success of social media campaigns. As the blogger has made this post a two-parter, we can only mull over the first three metrics for now…
Below, we provide the main point of each suggested metric – check out the full article for more details on challenges/best practices for each here.
1. Social media revenue conversion measures how many people become customers through social media referral channels
2. Facebook engagement measures a brand’s ability to communicate successfully with their customers on the social network
3. Social customer support metrics measure the impact of customer support on brand health and the cost of staffing a social support program
We will keep an eye out for the last two metrics to be posted and share – so stay tuned!
Let us know if/how you are measuring social media…IPRA is hosting a luncheon on March 1 that will discuss this topic. Learn more and register to attend the event, “Social Media Strategy and Measurement for Success,” here.