Measuring Social Media More Effectively
On Tuesday, May 17th I had the privilege of co-presenting a webcast with Susan Etlinger, an industry analyst from Altimeter Group, about the challenges of effectively measuring social media. I would like to give credit to Susan for the use of two slides from her presentation in this blog post. Should you be intrigued enough, you can listen to the entire webcast. Just fill out the form at the bottom and access all our webcasts, including this newest one.
For all of us who are interested in using social media for business improvement, we need to keep in mind that without a clear set of priorities and shared expectations in terms of what we hope to accomplish with social media data, we will find it forever difficult to measure the return on our investment.
This slide illustrates the points Susan made in terms of 6 specific challenges of social data.
Beyond those specific challenges, social media is still a relatively new data source, one that many companies are just discovering how to tap into to improve their marketing, campaigns, customer insights and social servicing. For those who are experiencing business success, the set of things to explore next is endless.
As the set of new things to add to the social media mix expands, a new set of questions crop up. These have to do with the nascent nature of social media itself. It’s an industry that has yet to develop a lexicon of commonly shared terms. If you ask three different people what engagement means, or how they measure influence or sentiment, you will likely get 3-4 different answers.
As this next slide illustrates there are some “sand traps” to get clear about before you begin your social media analysis.
Once you’re clear about what you want to accomplish with social media, it’s a good idea to be sure you have a shared comfort level with everyone on your team for exploring new marketing channels and opportunities. With clarity of purpose and shared goals, it’s amazing the things you can use social media insights to inform, in terms of future business decisions.
For many of our customers this is a process of elimination—one of adding new data and new outreach vehicles to their marketing mix, while determining which approach best suits their established work flow, processes and organizational structure.
For the companies we work with who are further along on their adoption path for social media, they use social data to inform all their marketing, research and campaigns. As a consequence, they have been able to improve their results through better segmentation of their audience, and tailoring their words to speak to their community (of prospects, customers and advocates) in ways that elicit positive behavior.
To learn more about this topic and to see examples of how three successful companies are using social media for product and campaign improvements, as well as socially responsible outreach, we invite you to listen in to this webcast.
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