Social media reports, essential tool
The buzz around social media continues to be strong, however, reporting of its success appears limited across many businesses. Barbara McLure reviews results from a recent survey following a series of social media seminars lead by social media expert Charlotte James for The Board Advisory Group.
Most businesses and organisations today have some level of social media involvement. Involvement means resources, and the obvious ones are time and financial.
While we immediately think that most social media platforms such as Twitter, Facebook and LinkedIn come at no cost, many businesses and individuals pay for advertising or additional services and have staff members, who as part of their other roles, take on the role of uploading content, monitoring comments about their organisation and are given devices such as tablets and phones to assist in these roles.
Only 34 per cent repsondees to our survey received regular reports on the business’ social media activity.
Like any other use of resources in a business, measuring the return on investment made in social media will ensure that the level of resources devoted to this relatively new marketing method are well placed.
Return on investment measures for social media expenditure include reach (demographics), traffic/referrals, leads generated, conversion rates, customers, financial impact and brand recognition.
While there are tools available to purchase to analyse and report on social media activity most social media platforms have readily accessible analytics that can readily give information at no charge.
Is it time you asked the question at the board table?
This blog first appeared on The Board Advisory Group website and is republished here with the kind permission of the author.
Barbara McLure is a director of The Board Advisory Group. Formerly ProNed Victoria Pty Ltd, The Board Advisory Group has been assisting boards for many years. With a focus on boards and directors, its role is to enhance board performance whether by recruiting the right chair and directors, providing structure and assistance for board reviews or advising on matters relevant to boards such as remuneration.
Barbara McLure is a director of The Board Advisory Group. Formerly ProNed Victoria Pty Ltd, The Board Advisory Group has been assisting boards for many years. With a focus on boards and directors, its role is to enhance board performance whether by recruiting the right chair and directors, providing structure and assistance for board reviews or advising on matters relevant to boards such as remuneration.
