Defining GoalsThe most important thing for a company is to define and to communicate their overall business goals. There is a well-known practice how to fulfill this task: Be S M A R TS : SPECIFICM : MEASURABLEA : ACTIONABLER : RELEVANTT : TIMELYAfter having defined goals a strategy with a set of tactics has to be implemented in order to guarantee a successful execution. Constant control and alignment is required.The web channel can support business goals in various way.
The conversion funnel is a digital tool of your web channel subdivided into different stages and aimed to support the overall business goals. It breaks down the sales process into mainly four stages:1. Awareness: bringing the product to customers attention2. Interest: getting the customer excited about a certain product/service3. Consideration: providing information in a friendly and educational way4. Purchase: getting customer to buy a product/serviceThe online conversation funnel intersects with the business goals in each stage and gives a clear understanding of the “WHY” during the entire process.
Choose Objectives – Value and ROI
Potential Goals Bring outside ideas into organization Generate more word of mouth Increase customer loyalty Increase product/brand awareness Improve new product success ratios Improve public relations effectiveness Reduce customer acquisition costs Reduce customer support costs Reduce market research costs Reduce product development costs
KPIs are adefined measurement of performance in a long run. Those metrics are based on certain website goals and have to be aligned with the overall business goals. Agreement on them is required and evaluating essential.KPIs have to be always measurable!
Applying Social Media Metrics to Sales FunnelSource:http://www.fullfrontalroi.com/
What can be measured
Assess measurement programs across all digital channels, including web sites, search engine marketing, online advertising, social media and other digital marketing channels.
Implement a successful governance model.Streamline adoption with training and support.Develop and follow a consistent plan for social media.Establish a culture of data-driven decision making and accountability
Understandably, price is usually one of the top concerns, but be sure you’re getting all that you can out of the platform. Missing important conversations because your monitoring tool doesn’t pick up a specific channel can mean lost opportunities. It doesn’t bode well to be penny wise and a pound foolish with these tools.Read more: http://www.jbsem.com/7-keys-to-choosing-the-right-social-media-monitoring-tool#ixzz1RK00B6T9
Range of Coverage (Channels & Languages)All platforms cover the large social channels (i.e. Facebook, Twitter, YouTube and LinkedIn) but not all cover bookmarking sites like Digg and Reddit or specific forums and chat rooms. Be sure to find out all sites covered in a platform. Here’s a list of the most important social sites out there today.Read more: http://www.jbsem.com/7-keys-to-choosing-the-right-social-media-monitoring-tool#ixzz1RK03VmYY
Workflow CapabilitiesIf you have a multitude of departments needing to monitor and engage, you better figure out how you’re going to manage all these people and sites. Marketing needs to understand what customer service is doing along with HR, public relations, c-suite, sales, etc.Read more: http://www.jbsem.com/7-keys-to-choosing-the-right-social-media-monitoring-tool#ixzz1RK07wFBN
Integration with Other ApplicationsThis is a big concern for companies with more complex social programs and highly matrixed structures. Be sure you know ahead of time what other applications you’ll be using before you select a monitoring tool.Read more: http://www.jbsem.com/7-keys-to-choosing-the-right-social-media-monitoring-tool#ixzz1RK0FiyaN
Global CoverageIf you’re doing business on a global scale make sure you’re picking up conversations on such sites as Orkut, Renren, StudiVZ, Bebo and Kontakte, just to name a few. This capability isn’t cheep so don’t buy it if you don’t need it. Click here for a comprehensive list of global social networking websites.Read more: http://www.jbsem.com/7-keys-to-choosing-the-right-social-media-monitoring-tool#ixzz1RK0MCfVN
Support and TrainingMany of these tools are becoming quite sophisticated and are ever-changing to meet the newest platforms; thus, it’s important that the account team is keeping you up-to-speed on what is relevant to you.Read more: http://www.jbsem.com/7-keys-to-choosing-the-right-social-media-monitoring-tool#ixzz1RK0S027K
Metrics and ReportingYou better be able to measure what you’re doing with social media or you’ll be out of a job fast. The big question always revolves around ROI so you better come prepared with numbers and killer graphs to impress the CEO.Read more: http://www.jbsem.com/7-keys-to-choosing-the-right-social-media-monitoring-tool#ixzz1RK0We2MQ
Listening to Your Customer
Social Media MeasurementLISTEN UP, BECAUSE YOU CARE!<br />By Mu’min Santoso l @msantozl KLIXDIGITAL<br />
Does any CorpComm/PR personnel like to wake up at 1:30am to handle issues and worst still while on an overseas trip ?<br />
How do you manage the digital conversations?<br />
Social Media Equity<br />A chart unique to Brandtology that indicates the Social Media Equity of the subject in relation to other subjects for comparison across influence, sentiment and buzz<br />EQUITY<br />
C. HOW – Implement Repeatability<br />Think long and hard about which metrics really matter<br />Variation is good if you are an artist trying to produce unique masterpieces, variation is bad if you are trying to control costs and maximize ROI<br />
Gather and organize the data<br />Understand the importance of all kinds of customer interaction:<br />Combine data from multiple sources (including analytics, email marketing, call centers and offline campaigns).<br />Focus reporting and visualization on key business objectives.<br />Visual speaks better<br />
Make sense of it all<br />Turn raw data into real action, by:<br />Ensure the accuracy and integrity of your data.<br />Develop a visitor-centric approach that shows which interactions are most important for your brand.<br />Figure out hidden correlations.<br />Provide ongoing multivariate testing, targeting and optimization of content.<br />
In a Nutshell<br />There’s a behavior shifting on how customer engage with brand<br />Understand why you need a measurement<br />Understand the ‘Big Picture’<br />Use the measurement framework to get effective measurement result<br />Choose and use a right tools<br />Keep listening & Analyzing<br />