Walt Denny Inc. Blog

Measuring Social Media: Tactics That Are Gathering Momentum

Arguably, one of the most-discussed topics among marketers over the last few years has been social media - in particular, how to quantify or otherwise measure the investment in blogging or participation on sites like Facebook, Twitter, LinkedIn and the new Google+. Measurement, it seems, has been a sticking point for many who hesitate to delve into social media.

However, as Bob Dylan famously sang, the times they are a-changin'. A recent study by Lenskold Group found that most marketers feel they are improving in their ability to measure overall marketing ROI, including certain elements of social media marketing.

Marketers are improving in their ability to measure investments in social media marketing, and are tracking metrics such as outcomes, influence and share of voice.

Getting (More) Social: Exploring the New Google+

Business marketers have new opportunities to connect and collaborate online with customers, prospects and others via Google+, one of the fastest-growing social media websites.

Since its beta launch in mid-2011, the new network - from the people who developed the world's most visited website - reportedly has attracted more than 62 million users, and an estimated 625,000 new ones join each day. Some researchers predict that the site will hit 400 million users by the end of 2012. (Facebook currently has over 800 million users.)

Google+ is one of the fastest-growing social media websites, with features that can potentially create value for business marketers.

Tapping into B2C Social Media for B2B Companies

Are you doing all you can to reach the person at the end of your supply chain - the consumer? That's a person who can be influenced - and be influential - on social media. Nielsen research found that 53 percent of active adult social networkers follow a brand, while just 32 percent followed a celebrity.

Furthermore, Mashable found that 77 percent of consumers interact with brands on Facebook by reading posts and updates; 17 percent said they share news and experiences about the brand with others. According to Hubspot, 42 percent of businesses have acquired a customer via a company blog.

Earning Loyalty: the Stats Behind Effective Social CRM

Social media is a natural and increasing first-line forum for customer service issues, from restaurant chains and utility providers to suppliers here in our home products industry. Social media platforms can at once be CRM (Customer Relationship Management) tools for innocent questions or sounding boards for a less-than-happy consumer. But the advantages lay with you when it comes to social CRM.

According to the McKinsey Global Institute, 50 percent of companies using social media say it has increased customer satisfaction. Research like this shows that both the business and the customer find the social customer relationship very meaningful.

With high-quality interaction and support, social CRM is a direct path in helping to keep customers happy and loyal, and attract new prospects.