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Implementing a social media plan only works if you can tie those metrics to business metrics. I came across this article Social Marketing in 2013 – Gartner Blog, and it really made a great point about where our focus should be with respect to having a proper picture toward social media.
Gartner’s social media survey performed year after year continually shows that the top reasons for businesses investing in social media is for improving customer relationships.
The top reasons for investing in social media are the following:
1. Strengthen Relationship with Customer
2. Enhance Brand Awareness or Brand Preference
3. Share Information and Ideas With Customers, Suppliers and Partners
4. Establish Interactive Relationship With Customers
5. Increase My Organization’s Revenue Through New Products, Customers
Source Gartner Blog – January 15, 2013
If you take these reasons and come up with your own metrics to marry the two, you will be in business.
I have seen a direct correlation in each one of these areas and I am actually taking these reasons and making them my focus with respect to all of my marketing channels. Here is my plan for 2013
1) Create an overall “report” strategy based on these items
2) Highlight specific metrics in each of these areas to track:
Example – New Revenue in 2013, New Customers in 2013, Measure Client Contacts, Improve communication with clients by doing steps x,y,z
3) Start recording specific progress in each area and evaluate monthly
4) Develop a separate plan of action to meet goals defined with respect to these areas.
Bringing social metrics together with business metrics is the only way to develop an effective marketing strategy that will/ will not show success. It will also help determine where more/less time should be focused with respect to marketing. Measure progress and make sure your goal isn’t focused toward an overall “Like” number. Somewhere those people who like you must also pay you, ($$).
Image courtesy of nokhoog_buchachon / FreeDigitalPhotos.net
Susan
Thank you for your comments. I really believe a return on investment on all marketing efforts needs to occur.
Brent
I love your perspective here, Brent. Time is money, and time ‘socializing’ for business should have a return on the investment. If the return has no more value than someone’s approval to be your friend or follower, you haven’t made any progress. And if you’re not tracking – what on earth is the point? No one improves without a baseline and a strategy. Good post. ~Susan