The following is the final post in a two-part series addressing which metrics matter the most in a social media plan. Learn to distinguish between metrics that affect your bottom line, and others that may not carry as much weight, as well as how to apply resulting data.
DEPARTMENTAL ROLES IN MEASUREMENT
Which company departments other than marketing should be measuring social media? Although it may seem marketers stand to benefit most from social media metrics and data, it’s important to include all other departments who handle the customer at one point during the life cycle. Social media can provide useful insight to customer service teams, sales, HR and more, which in turn help the overall business.
Marketing roles within a company have, for the most part, accepted that social media marketing and measurement are staples for success within the big picture. Smart marketers realize the value of social media measurement and will take additional steps to help the overall business analyze success and failure, all the while adjusting tactics.
Product development assessments through social allow developers to discover measurable sentiment of a product, and support decision-making at the product level.6 Leadership teams in the past were impressed with number of followers or likes, however now, they are realizing that these vanity metrics don’t bring tangible results and are therefore examining more meaningful metrics. These measurements can help lead to company adjustments necessary for overall growth.
Sales teams are now faced with a more educated consumer, which forces some to reexamine the typical sales process and prepare to offer a unique customer experience along with the product. Customer experience is one of the few remaining sales elements that brands can actually control. Social media can help sales teams foster relationships through engagement and trust.
Human Resources departments tend to utilize LinkedIn as their go-to social media platform. It’s the ideal venue for recruitment, developing professional relationships, and creating an online presence as a leader in a field. Listening, engaging, and measuring are the main forces behind a successful social business plan, and HR professionals who recognize this value are benefitting.
It’s important to think about social media’s relationship to the overall marketing goals and to integrate social data to gain a more holistic view of how it affects different aspects of business. Doing this can pave the way for attribution and predictive modeling. A common mistake in measurement plans is allowing the information to sit in a silo. However, within a database environment, brands can overlay other business datasets [CRM database, sales data, etc.] to develop attribution models and predictive algorithms.
Measuring the success of social marketing efforts is as important as the social plan itself. Without this follow-through, social media becomes just another layer in the overall marketing strategy, with little to no purpose. A social media measurement plan improves with time and volume of data, and requires care and patience.
Listening to an audience offers insight into what their needs are, making communication with prospective customers more streamlined and relevant. Well-thought-out engagement and content builds trust between customer and brand, and can be measured by a spike
in mentions or key phrases being tracked. Learning from this extraction of information is the next foray into a strong measurement plan.
Understanding the drivers of conversation and how they can be influenced and leveraged is valuable in the progression of data collection and utilization. With the materialization of actionable insights, marketing and production can be better informed of consumer expectations and sentiment, brand health and competitive threat levels.
Filling the holes dug up by the disconnect between consumers’ needs and marketers’ goals is when a measurement plan begins to blossom into a reliable, tangible machine, equipping businesses with data necessary for a successful social business endeavor.
For teams using social media dashboards, like those in Tracx, making sure everyone who uses these tools understands these changes should be a top priority.
Brands that have not relied on organic reach in Facebook and Instagram will not likely see any changes this year. Those who do will need to take a serious look at other options.