The definition of insanity is to keep doing the same thing and expect a different result. So any wisdom on the side of sanity means that when you venture into a new marketing strategy you want it to show up on your Business Report. Striding into the arena of social media should also generate a positive and noticeable change in attaining the goals that show up on your Business Report. After all if you can’t sell more widgets by dancing naked on YouTube and posting it on Facebook why did we do it in the first place?
For some businesses the key performance indicators (KPIs) will primarily be sales related in terms of volume or profit margins. For a non-profit organisation the key goal may be more relationship based and determined by names, names, names.
If your digital marketing strategy is worked in with your traditional and existing marketing plans, then online media has the ability to define goals and measure the results. Many business operations are currently trying to connect members of their existing customer base to their social media channels by promoting competitions and campaigns designed to gain names and contact information on Facebook and Twitter.
These transitional marketing strategies are pivotal as a business develops new doors into their business using social media. Facebook offers it’s free ‘Insights’ into the activity of your Facebook Fan pages. Twitter has a number of search options that help gain a picture on what is being said about your brand. The reporting tools available can also tell us the frequency and location of comment even down to looking for emoticons and phrases that illustrate the tense of the communications.
Whatever your business, social media is a measurable part of the plan. Like anything that needs to be measured you need a benchmark. The information you want to use as a target or a measure can come from your business plan, past performance or industry averages. What will surprise you is the quality of business intelligence on your customers that can be drawn from your social media activity.
So now we ask ‘what next’? By taking a review of your business we can help you ensure both your business plan and marketing strategy are up to date and in place. A personalised solution for reporting on the business is the next step. There isn’t a one size fits all and we can recommend a solution that suits the size, pace and budget of your business.
Knowledge brings the power of relationship.