Altimeter Report: The Social Media ROI Cookbook

Hot on the heels of last week’s Altimeter Open Research Report on Converged Media, today, analyst Susan Etlinger, Researcher Andrew Jones, (I served as editor) have published a report answering the absolute top asked question in the social space: “How do companies measure ROI of social?” In this definitive report, Altimeter found that there are half a dozen methods being deployed, each with flaws and strengths. It’s key that the business knows which method to deploy, when, and then line up the right process, teams, software, and partners to help. Despite a thorough look into leading case samples and speaking with dozens of members of the ecosystem, we found there is no single solution that is fool proof. In this … Continue readingAltimeter Report: The Social Media ROI Cookbook

Number of Fans and Followers is NOT a Business Metric –What You Do With Them Is

Companies are frequently misguided by relying on fan and follower count as the primary measurement for their social media investments, instead they must focus on the outcomes of these fans and followers. We wouldn’t buy a car without looking under the hood, or buy a house without getting it inspected, or hiring an employee without doing a background check, so we should also ensure we’re providing the right metrics for our social efforts. Because fans and followers are so easily viewable by all employees of our owned social accounts as well as our competitors, it’s easy to use that as a default index. In fact, strategists should not serve up fan and follower data to executives, as they often self-diagnose … Continue readingNumber of Fans and Followers is NOT a Business Metric –What You Do With Them Is

Open Research: A Framework for Social Analytics

Over the last few months, Susan Etlinger, a former marketing strategist, and most importantly has used brand monitoring tools, has lead Altimeter’s latest research report on analytics.  After interviewing nearly 40 experts and working with Charlene Li and a bit of help from myself, she’s found six distinct use cases (see compass below) on how companies are measuring using these new toolsets. We know that measurement is the the top goal inside of companies, and while I’ve published this data before, it’s important to recast it to show the important of measurement in an emerging technology set. Why are social analytics so important? This is a new medium, and proof over re allocation of investment is key. Being a new … Continue readingOpen Research: A Framework for Social Analytics

To Understand Your Market, Harness The 7 Elements of Customer and Social Data

Who has more information about US’s Gen Y? Facebook or the United States Government? Each time I ask this question on stage, most hands vote that Facebook has more information, although someone usually suggests the United States Governmant can obtain it if they need to. In fact, the amount of consumer data emerging in the social web only continues to hockey stick (see this graphic from Twitter) The following is a summary of a research project we did to understand how to harness new data types in their online experiences. The 7 Elements of Social Data We segmented data that has been tried and true for years on the top tier: demographics and product. Then, we segmented data that digital … Continue readingTo Understand Your Market, Harness The 7 Elements of Customer and Social Data

Framework: The Social Media ROI Pyramid

Often, our industry can appear complicated, and yearns for simplicity.  One such technique to glean simplicity is to develop frameworks which the corporate social strategist can then apply to achieve their business goals. I’ve been working on this “ROI Pyramid” framework for a few months now, and am ready to share in greater detail than on my keynote at LeWeb (slides and video) where I introduced this to the public for the first time. [The novice provide executives with engagement data –causing themselves to be stuck in the churn of obtaining more followers and fans –without a clear business goal] 140 social strategists around the globe at enterprise class size companies indicated their top internal objectives for 2011 is to … Continue readingFramework: The Social Media ROI Pyramid

Altimeter Report: Social Commerce, How Brands Are Generating Revenue in Social Media, by @lcecere

I’m frequently asked “What’s the top challenge the corporate social strategist is struggling” and over and over, ROI comes up very high. To tackle this challenge head on, Altimeter has conducted a research project to find out how companies are connecting social technologies to the overall buying process as well as analyzing how they increase revenues for brands. In conjunction with our recent conference on Social Commerce, we’ve now published the findings from interviewing top social commerce vendors and brands that are connecting commerce with social media. Our lead researcher analyst on this project is Lora Cecere who stems from Gartner and AMR and stems from Supply Chain Management, her and I will be doing a no-cost webinar to discuss … Continue readingAltimeter Report: Social Commerce, How Brands Are Generating Revenue in Social Media, by @lcecere