I’ve been conducting a lot of reference checks of late, searching through the case studies of vendors in the space, and talking to Gartner clients about what it is they’re measuring when it comes to social media and continue to find that the majority of companies are STILL not measuring anything that shows business impact.
The #mondaymorningselfie of mine which most accurately represents how I feel about all of this.
Five years ago, everyone in the space had a pass – the tools were not there to help us get this stuff done – but now, come on!
Listen, we all have lazy moments…(not an endorsement for Remo’s.)
Now saying, “it’s difficult to tell” is just an excuse. It’s an excuse not to put in the time to work across your organization to gain access to the data you need to determine whether or not your social media efforts have had an impact on the business. I say all of this knowing that while it is hard to work across an organization to get the data you need, it is not impossible because there are companies who have done it.
$40 worth of aluminum foil proves that nothing is impossible.
What should you be measuring?
Gartner clients can access our research Choose Social Metrics That Demonstrate CRM Business Value, but for everyone else there are a few things that every metric comes back to:
Revenue generating opportunity
Relative activity* (*This one still needs to be tied to a business objective.)
Who is doing this well?
Every year, we publish a piece of research called, “Top Use Cases and Benefits of Social for CRM in 201X” which gives examples of companies who have demonstrated a ROI from their social media efforts. While I work to refresh the document for 2016, here are some examples from 2015’s document:
The Palms Hotel in Las Vegas works with Hootsuite, Media Leaders and
Sourced through Scoop.it from: blogs.gartner.com