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Social ROI – Getting the most return on your social media investment

Do these questions sound familiar:

  • How does your organization know if investments in Social CRM are paying off?
  • How do decision-makers determine if they should invest more in customer engagement activities based on social media?
  • If so, where will they see the most return on investment (ROI)?

C-level executives want to see a correlation between investments in social media activities and revenue, but that's not an easy thing to measure.

 

In addition, the timeliness of measurement matters. In today's fast-moving world, it's no longer sufficient to only look at ROI metrics reports that are generated periodically. Your response may be too late for customers who are complaining about your brand, your products, or services to their friends and followers on social media, especially if your competitors are ready to jump in and save the day.

 

In order to make the most of your social media initiatives, you need to quickly measure business results. To do this, you need to take advantage of Big Data capabilities to gather and aggregate the appropriate data. Coupled with advanced analytics to analyze the data and generate actionable insights, you can share those insights with key stakeholders in a timely manner that enables them to take action to improve the customer experience – before any damage is done.social ROI.jpg

 

Read the article: The 10 Metrics that Matter Most for Social CRM to learn more about HP's point of view on Social ROI.

 

You can also read this interview with HP’s Dennis DeGregor where he explains how companies can measure the effectiveness of their social media efforts, especially with ‘Generation C’ ( the Connected generation).

 

Finally, please visit our website to learn more about our latest Social CRM offering with advanced analytics capabilities:  HP Customer Engagement Management-Social.

 

By:  Kavitha Thankaswamy, Marketing Manager, Hewlett Packard Company

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