Compiling the right social data can be difficult. What the executive team needs to see in order to understand the health of their brand is quite different than what the optimizer who is running campaigns wants to see. Some metrics will be more beneficial to one business/brand/job role than another. Not all benchmarks are the same. So therein lies the challenge – what do I need to measure and how can I make sure that it actually resonates with the right group of people when called upon for reports?
Most of us probably realize by now that dropping terms like status updates, followers, retweets, doesn’t necessarily capture the attention of the CEO; those types of metrics are not giving them the information they are looking for. So here a few items that might just peak their interest a bit more and provide them with the insight that helps you justify why you’ve put forth the effort to not only maintain, but expand your company’s influence in the ever broadening sphere of social:
Take off your shoes -
Yes – that’s what I said. Your shoes – your marketing shoes. And, put on the shoes of your executive director. They tend to think a little differently about social media measurement, so in turn, you might consider this also when reporting to them on the ROI of your programs. Use terminology that THEY will understand – leave out the jargon. Think 20,000-foot view and bottom line results. Daily metrics don’t matter as much as sales do. How is your time and effort in this area affecting that? That’s what they’re looking for – align your benchmarks with these types of items.
I think I CAN, I think I CAN, I think I CAN. Point being – pick three metrics that you CAN measure and report on those. Maybe its closed sales that started with a tweet or a Facebook comment that you’ve tracked, maybe its cost-savings from implementing a tool that now helps measure some of your social metrics instead of tedious hours of spreadsheet work. Whatever you CAN measure, glean your information from that. Although “influence” sounds great to us in marketing, there’s not a dollar amount you can associate with it to really bring home your point with the executive team.
“You Betta Recognize” -
Recognize what? Recognize what you’re currently working with in regards to reporting systems and see how they can all tie into your case for social. How do your CRM and your marketing automation platform help you leverage your social reach? For example, both Saleforce.com and Eloqua have application “marketplaces” with numerous social plugins that can supplement your current campaign efforts. This is where you bring up COST SAVINGS to the board. Look at what we already have, look at how I am using it, and look at how I can report back to you on items X,Y, and Z with numbers and/or percentages that make sense. You want executive buy-in? Let them know that you’re not just blowing money on new-fangled tools to measure something they don’t necessarily see value in quite yet anyway – help them recognize what you’re doing with what you already have.
What roadblocks have you run up against when reporting to your executive team on your social strategy? Leave us some feedback! And we hope you can join us on Wednesday, Nov.16, for the webinar to learn more about what you need to measure, how to measure it, how to report on those metrics, and how to determine what is good versus bad for your type of company.