Social Measurement -- Considerations and Solution Selection

Companies engaging in online social conversations need a good social monitoring and analytics solution so they can monitor conversations occurring about their company, products, and services across the social web. And the same tool is important to measure their results.

And hey, even companies that are just started in social media or pondering it should add a social analytics solution to their toolbox. You might be surprised about the sentiment and nature of conversations that are going on that you may not even be party to.

The presentation that follows summarizes important considerations to help you select the right premium social analytics solution for your company’s needs.

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PR Agency Social Media ROI Calculator

And how PR firms can benefit

Thought you’d be interested in insights into a social media ROI methodology geared specifically towards the PR agency world.

Check out the preso.

PR Agency Social Media ROI Calculator - And how PR firms can benefit

Each ROI calculator is a little different, depending on the industry and company.  However, the basic elements are consistent and building the methodology is the hardest part.  I’ve done the hard thinking to help you.

Thanks to Dr. Natalie Petouhoff for her thought leadership.  She’s the bestest!

1. Social business is about making money

Welcome to the first installment of the Pathlight Solution's Business of Social Business series. 

 

There is sooooo much talk about metrics and KPIs to support social business design.

And metrics = good.  Business needs to be measured and monitored.  And KPIs = good so individual and group contributions can be identified so folks can be rewarded.

However, don’t be fooled by articles or professionals professing that business is really about people and culture and not money.  Or about how you should focus your business solely on creating value for your customers and then the numbers will take care of themselves.

Those are ivory tower sentiments -- and of little help to executives.

 

This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.

Chatting with Paul Greenberg about social media ROI

Yesterday, I had a great chat with Paul Greenberg, Mr. Godfather of CRM and all-around nice guy, while demo’g ValueRight Social Media.

Our convo took a number of twists and turns, spanning from valuation methods that take a more traditional approach to social media like ValueRight.  We also segued into the need for new metrics that will better reflect the full value of social media.  The sort of metrics centered on Customer Lifetime Value (think V. Kumar).

Absolutely!

We both agreed, though, even innovative new metrics will still conversion into

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Why Value differs from Benefits & the impact on social media

If you want to understand how to perform valuations of corporate initiatives, including social media, then you need to understand the difference between value and benefits.

Benefits are what you get from a corporate initiative but Value is the money you receive from increased revenues or cost savings.

Benefits are intangibles and some will directly derive from specific feature functionality.  Others will be sourced by emotions.

In contrast, Value is tangible -- and it's currency.

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FREE Webinar - How To Determine Social Media and SCRM Value and ROI

Find out how to determine social media and SCRM value and ROI at a complimentary webinar sponsored by Pathlight Solutions, a subsidiary of Intellicore Design Consulting.

Date: December 10, 2009
Time: 2 pm EST (USA)
Presenters: Kathy Herrmann, partner, Pathlight Solutions (and Intellicore Design Consulting).

In the webinar, you'll discover:

  • Social media gains and costs - and the time-value of related cash flows.
    • Gains = Revenues and cost savings
    • Costs = Personnel and technology
  • The secret to managing uncertainty.
  • How to determine social media and SCRM Net Present Value and ROI.

Who should attend:  C-Level execs – as well as anyone interested in understanding how to perform a rigorous valuation of social media and its supporting technology.

 

Register today for the must-attend Social Media and SCRM Valuation and ROI webinar and focus your efforts on determining whether social media is the best customer-facing initiative for your company to undertake.

If you have any problems registering, contact me for help here.

Yes Virginia, You Do Need to Determine a Social Media ROI

I just finished an interesting article by Steve Woodruff who asked the question “ROI in Social Media – Where Does it Belong?”  He launched his article by writing:

“What’s the ROI of Social Media?” I hear that question all the time, and it drives me crazy.

Huh. I’m driven crazy by the opposite question…Why wouldn’t you expect to provide social media valuation to your executive team (just as you would for any other corporate initiative)?

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