You Are What You Eat: Optimizing Content ConsumptionQuality? Or Quantity? Content Marketing Struggles with the Right Path Forward3 Ways to Take Brand Advocacy to the Next Level with User-Generated Content5 Reasons Why Your Content Marketing Isn't Working
Let's Measure Social Media ROI in a Way That Isn't StupidTo Grow Your Social Marketing Budget, Determining ROI Is a Critical Job SkillWe Need to Rethink Our Definition of Engagement
- Content Marketing
Technology & Data
Social Change Agent Survey: Passion, Skill Set, and Persistence Lead to Career GrowthSandy Carter's 6 Social Business Lessons to Learn from Candy Crush5 Tips for Creating a Company Culture that Connects with Your Sweet Spot ClientsWhy Leadership Should Be a Collaborative Exercise
8 Internet User Statistics Every Small Business Should Know AboutCan't Find Time for Social Media? This Approach Will Help6 Ways to Turn Your Small Business into a Media Hub
- Social Organization
Beyond Engagement: Why Advocacy Is Always About the PeopleFormer IBM Senior Advisors Launch Brands Rising to Build Employee Advocacy ProgramsPerformance and Risk Management Through Social Media TrainingEmployee Advocacy Summit: Advocate Stories from the Field
- Customer Service
Join us September 15th in Atlanta for The Employee Advocacy Summit and learn how to unleash the power of your employees.
Post your event here and we'll share it with our community. If one of our members is featured, we'll promote as well on their profile.
- Marketplace & Webinars
The SMT Marketplace
Your resource for exclusive content and insights from Social Media Today, and opportunities to reach our community of professionals.
The Social Business Book Club brings you books, discussions, and insights from today's to business thought leaders.
Join interactive talks and and panel discussions with leading thinkers and practitioners on social media and networked business, or browse the catalogue of recorded sessions - all completely free.
Reach Social Media Today's community of marketing and communications professionals in an editor-approved context with a native advertising package.
Social Media as a Litmus Test for the Strength of Your Business
Posted on October 8th 2013
When measuring the performance and overall strength of your business, your books are only going to reveal a portion of the story.
Social media can help to fill in gaps of information other more traditional methods of business evaluation cannot provide.
Through social listening, reading reviews and comments, and paying attention to competitive communities you can learn what you’re doing well, what needs improving, and gain a stronger understanding of what you can do to enhance the performance of your business.
The relative openness of platforms such as Twitter, Pinterest, Instagram, Google+, Tumblr, Blogger, and WordPress, give you numerous places around the social web to listen in on what people are saying about your business or brand. Even Facebook’s Graph Search has made the world’s most popular social network a place where social listening is possible outside the bounds of your own community.
Reviews are not only critical to driving sales for your business, but can be a great source of information and insight about the performance of your business. Glowing reviews can verify the things you are doing particularly well and give you ideas about how you can provide those experiences to more consumers. Negative reviews can reveal opportunities for improvement, areas of your business that are fundamentally flawed, give you ideas for future product development, and more.
Comments and discussion
For some time, branded social media channels have been a favourite place for consumers to express their delight with businesses, as well as tear a strip off them when they have negative experiences. While many of us are becoming pretty good at responding to these comments on social media, there is opportunity to apply what we learn in the comments on our social media channels to influence business practices. By tracking compliments and complaints, we can see trends occurring and apply what is learned to other inputs that influence our business strategy, product development, customer service, or really anything to do with our businesses.
Competitive and related communities
Discussions about your business and brand aren’t going to be contained within your communities. Competitive and consumer driven communities should be monitored on a regular basis, not only for your competitive reviews and analysis, but also to gain as broad and comprehensive an understanding as possible about the performance of your business.
Social media channels can be a great indicator for the various strengths and weaknesses of your business, but you obviously need to be paying attention for it to matter. To ensure you’re sufficiently keeping your ear to the ground, consider adding social listening KPIs to your regular analytic reports. This will help to keep you honest about paying attention to what consumers think about your business, and will ensure that what you uncover is easily shared with others in your organization.
How do you use social media to measure the success of your business or brand? Have you ever adjusted your business strategy, product or service because of what you’ve heard from your customers on social media?