Over the past year, many more companies have delivered analytics tools to help you measure your investment in external social media tools and strategies. Monitoring what’s happening in your customers’ social networks and your reach within those networks is vital to every business, but there is another side to the social movement that's just as important to your bottom-line and is in need of much greater analysis and nurture: what’s happening socially inside your business.
Being a “social business” is about more than just being active on external channels; it’s about introducing that same transparent, collaborative and social philosophy to every aspect of the enterprise.
Investment without Measurement
As much as 60 percent of the conversations about your company are taking place internally between teams and on platforms such as Salesforce Chatter and Yammer. And while there is no doubt that over the last two to three years companies have increasingly embraced the social enterprise vision -- investing in everything from internal IM to advanced collaboration platforms such as Jive -- very few are measuring how effectively they’re achieving it.
In our experience, there aren’t many companies that have empirical data on how well social business tools are being adopted internally, what conversations are going on and whether or not these activities are actually helping to achieve business objectives.
This year we will get serious about measuring internal social initiatives and spend more time looking from the inside out, to understand how well social activities are impacting productivity, innovation, customer satisfaction and revenue.
This shift will be driven by three things; the broader social business movement gaining momentum; greater sophistication in how we measure value from all of our business tools, particularly in light of the recent explosion in analytics for external social media, and; a tight economy driving many companies to evaluate whether the tools that they rolled out two or three years ago are being used to their full potential.
This is the year we move away from simply rolling out social technologies and assuming they’re working. We’ll start demanding better social business analytics so that we’re able to unlock maximum value from the tools driving the social revolution.
We need to be analyzing four things:
1. Your Company’s “Social Pulse”
While at least 50 percent of the transformation into a social business is cultural, you need the right technology to support it (and in turn, the technology can help measure how well you’re doing with the cultural shift). But, if no one is using these technologies, your social business is dead in the water. You need to be able to measure adoption within your target group to establish a basepoint, then identify your power users and influencers in order to improve.