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Social Media ROI Measurement: Notes and Resources

Social media can be a powerful tool for communicating with your customers and reaching new prospects. A survey by Mashable found that 84 percent of social media programs don’t measure return on investment (ROI). It also found that many individuals and businesses don’t know how to measure the ROI of their social media strategies and campaigns.

Social Media ROI: The Conversation

I was fortunate to be included in a panel discussion on the subject of ROI.  The event was produced by the Sacramento Chapter of the Social Media Club with the intention of covering the topics:

  • Best practices in social media measurement
  • How to calculate ROI with social media campaigns
  • When social media should be a part of a comprehensive communication strategy

Innovative marketing pro, Gordon Fowler, President & CEO, 3Fold Communications (@Gordon3Fold) and Josh Hilliker, Director of Social Media, Intel-GE Care Innovations (@JoshProStar) were co-panelists.  Josh is the Director of Social Media at Care Innovations, an Intel-GE Company. He is responsible for the company’s Social Media strategy, online communities and product evangelism. Gordon is CEO of one of the few growing interactive marketing and public relations firms in Sacramento.  He is a thought leader in brand strategy and generational marketing.

With well over a hundred attendees the conversation de-railed a bit into tools and tactics.  It proved to be somewhat of a frustrating experience for some, considering the need for strategic thinking.  The audience did get what they wanted.  I’m just not sure it’s the information that was (is) really needed. There were plenty of salient points covered and I encourage you to view the Social Media ROI panel discussion in its entirety here.

Hopefully, we see these events as only the beginning of the dialogue. Continuing the conversation is the first step toward collaboration, real results and real answers.  I’ve curated some resources and will provide some perspective with the hope that it will be discussed and augmented by those of you that want to know where and how you should be spending your time online in social media.

You can view  see the  conversation on twitter  from the event by searching #smcsac on Twitter.

twitter conversation hashtag #smcsac example

Much of our thinking applies first to larger companies.  The notes I prepared for the panel discussion apply to any size organization, as the membership of the Sacramento Social Media Club skews toward smaller businesses.

 

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15 Principles of Agile Social Business Projects

15 Principles of Agile Social Business Projects:

1. Our highest priority is to satisfy the customer through early and continuous delivery of valuable social business solutions.
2. Welcome changing requirements, even late in the delivery lifecycle. Agile processes harness change for the stakeholders’ competitive advantage.
3. Deliver working solutions frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale.
4. Stakeholders and developers must work together daily throughout the project.
5. Build projects around motivated individuals. Give them the environment and support they need, and trust them to get the job done.
6. The most efficient and effective method of conveying information to and within a delivery team is face-to-face conversation.

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The Power of Community and the Impact of Social Business

 

Businesses and organizations have become more strategic about how they engage with their customers, employees, partners, and followers to build long-lasting relationships. Social media has matured into a meaningful solution for businesses to develop those relationships whether it’s through online communities, blogs, tweeting, or other channels. Above all, companies that actively provide value through these channels to their community gain tangible business benefits that leads to better communication, stronger brands and significant cost savings.

Join Acquia and our partners for our upcoming event and networking reception where your peers will gather to hear from individuals who successfully use social business technology to engage with their communities. Attendees will hear from industry experts from organizations including PayPal and C7, and a special presentation from Dries Buytaert, the Founder and Project Lead of one of the largest online technology communities, drupal.org. Learn best practices for building your social business strategy and gain tips for choosing the right solution to meet your objectives – without blowing the budget.

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Social Business Capability Maturity Model

Here’s one way to find out how engaged your enterprise is. Use the Capability Maturity Model.

Most companies somewhere between nowhere (level 1) and really trying hard with some successes (level 3). Very few companies are at a level 4 (don’t need our help).

Where do you think your company stands?

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Jive Software acquires Offisync for $30M [Quick Analysis]

The deal will give Jive the ability to offer enterprises an easy way to make Microsoft Word and Outlook instantly social and tightly integrated with Jive.

For those who’ve wondered whether it’s really possible for an enterprise to embrace Social Business, you can stop wondering. With this acquisition, Jive is bringing Social Business to you, where you work, to your desktop, to the applications and emails you live in eight hours a day. Our customers no longer have to choose between collaborating on Jive’s Social Business platform or the familiar Microsoft Office UI.

“The integration is very deep,” Antebi says. “You can see edits as they happen. This is social document collaboration as opposed to old school document management where you check in and check out a document and come back two hours later and wait for it. That’s the ’90s.” – Jive Software

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Social Media ROI: Is it Measurable?

Social media can be a powerful tool for communicating with customers and reaching new prospects. Despite the rising popularity, a survey by Mashable found that that many individuals and businesses are unsure how to measure the return on investment (ROI) of their social media strategies and campaigns.  It also found that 84 percent of social media programs simply don’t measure ROI.

There are already over 100 people signed up for this event presented by the Sacramento Chapter of the Social Media Club, and C7 Group Managing director Mark Bean will be on the featured panel of Sacramento-area social media experts who will discuss why new media may call for new methods of measurement, including:

  • Best practices in social media measurement
  • How to calculate ROI with social media campaigns
  • When social media should be a part of a comprehensive communication strategy

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Updated: Social Business Strategy Webinar Series

C7group is excited to launch the first webinar, Why the CEO Hates Facebook and What The Enterprise Must Learn from It, in our social business webinar series.

Topic:

Why do bosses hate Facebook? What is there to be learned from Facebook as a social platform for better communication and collaboration within large and mid-sized companies?

 

Description:

This Webinar is a casual conversation with plenty of open Q&A.

  • We’ll discuss what is valuable from the Facebook experience.
  • How can it be translated into business productivity?
  • What are social platforms for business?
  • What will it mean to business culture? Workflow?
  • How much money can be saved?
  • What if we decide not to pursue it? What is the Risk?
Please join the co-founders of the C7, CEO, Jeff Marmins and Chief Solutions Architect, Mark Bean, for an engaging, educational conversation where we can share how companies are already seeing results like:

 

  • 33% Higher Customer Satisfaction
  • 27% Reduction in Email
  • 26% Less time spent in meetings
  • 34% Less time to find information and experts

(Results from Jive Software Customer Survey)

Register for Why your CEO Hates Facebook and What The Enterprise Must Learn from It on Eventbrite

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Southwest Safety and Service: A Social Business Opportunity

Southwest  Airlines grounded 79 of its older Boeing 737 aircraft for inspections after a hole opened in the roof of a similar plane over Arizona last week, forcing an emergency landing.

The 15-year-old 737-300 plane with a hole in the roof was outfitted with a large aluminum patch in Yuma, Ariz., where it landed last Friday on the way to Sacramento, where C7 Headquarters office is located.

After last week’s mishap, the Federal Aviation Administration ordered airlines to conduct detailed inspections of the same area on certain models of older 737s that have made at least 30,000 flights, and to inspect them again every 500 flights.

We had some travel planned on Southwest, Why then, was there no mention on Southwest’s website of it’s current safety concerns and how they might affect our travel?

In fact, this information is nowhere to be found on any Southwest online property with the exception of their twitter feed.

Southwest Airlines safety: Air masks deployed

(Credit: Shawna Malvini Redden/Twitpic)

What has this got to do with social business you might ask? What could be more important to Southwest customers like us than our safety and security? We need to feel protected and informed.  “Will I get sucked out of a depressurized cabin,” becomes an immediately greater concern than, “Will my bags make it to Austin?”

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Our Partner Jive Software Did A Survey: “The Business Value Of Social Business” We think the results are astonishing!

Our partner, Jive Software, conducted a customer survey open to all Jive Software customers. All statistics are from a survey conducted Dec. 2010 by third-party market research firm.

More than 500 people from more than 350 companies responded; more than 60% of respondents came from companies with more than 5,000 employees. More than 10% of respondents came from companies with more than 100,000 employees. Nearly 1/3 of respondents use Jive for both internal and external communities.

Key Finding #1: Social Business Drives Breakthrough Business Results

The first key finding revealed that customers are adopting social in the enterprise to change the way they do business and generate material breakthroughs in revenue, cost-savings and innovation. The business benefits from Social Business adoption extend across three key audiences: employees, customers and the social web.

Top Employee Engagement Benefits:

  • 39 percent increase in employee connectedness;
  • 32 percent more ideas generated and captured;
  • 30 percent increase in employee satisfaction;
  • 27 percent less email;
  • 32 percent reduction in time to find answers; and
  • 37 percent increase in project collaboration and productivity.

Top Customer Engagement Benefits:

  • 42 percent more communication with customers;
  • 31 percent increase in customer retention;
  • 34 percent higher brand awareness;
  • 28 percent decrease in support call volume;
  • 34 percent more feedback and ideas from customers; and
  • 27 percent increase in new customer sales.

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