Defining Success in Social Media: Revisited

          Social media continues to change how we as a society interact. Programs like Facebook, Twitter, Pinterest, Instagram, Snapchat, and the like allow for two-way communication to be immediate and boundless. Businesses and organizations must embrace social media to insure a higher level of goal achievement.While the idea of implementing these programs into an organization may seem daunting and unnecessary to the old guard, the new guard knows that social media must be embraced. As "new" as they seem, however, social media networks are simply different ways to fulfill old needs.

What a business does has not really changed.

How that business does it clearly has.

          One of the easiest ways to convince executives that social media can create value within an organization is to define what that value will be. While increasing the number of followers a social media channel has can be impressive, it is not a definable measure of success. Most businesses are concerned first and foremost with profit. Showing how - or if - those followers convert into monetary transactions is something that will show an executive the value that a social media program can bring. In his book "Social Media ROI," Olivier Blanchard suggests focusing on frequency, reach, and yield. Those terms can be defined as follows:

• Frequency - the number of times a customer makes a purchase
• Reach - how many customers you can reach
• Yield - increasing the amount of each customer's purchase (upselling)

          When social media efforts can be quantified in these terms, executives and other members of the organization are more likely to appreciate and understand the need to integrate social media into daily operations. Tracking how each program affected sales can be tricky. It is helpful to implement certain checkout codes or landing pages that are assigned from each different social media channel. Shoppers love saving money. Applying specific coupon codes to online orders can help determine if the social media program reached that customer and helped make the sale.

          An additional point to consider is that social media is not completely free. While most social media platforms are free to use, someone's time must be devoted to the implementation. Advanced monitoring programs - or outsourced monitoring services - can increase the cost of effectively implementing social media. These potential costs must be considered when justifying the program as well.

          There are many examples in today's business world where social media has had a large, positive effect on a company.  Domino's Pizza has effectively used social media, as Evan Schuman explains in this article:

"When the Domino's pizza chain announced on Wednesday (May 20) that it can now take pizza orders via Twitter, it was part of the chain's buy-anywhere-anyhow campaign. The rationale is that customers can stay within whatever media form they are using - social media, mobile, desktop, Apple Watch, etc. - and order a pizza without having to switch media."

      

This is a great example of social media being applied extremely well within a business. The particular use of Twitter and that company's "follower" rules plays again to Domino's advantage. When someone orders a pizza, it's easier for the customer, and Domino's profits financially while gaining a follower with whom they can share future promotions Additionally, that follower is likely using his preferred social media channel, so Domino's has a stronger chance of successfully reaching him in the future - increasing their reach. That's a fine example to show a hesitant adopter of social media for business purposes. 

In order to get others behind the idea of instituting a social media program, they need to be shown that there is a plan for social media, and that plan needs to be measurable. While her support is vital, it is not just a matter of convincing the executive in charge. All departments must be on board. Social media can benefit sales, public relations, marketing, human resources, and so much more. It is an integrated approach that will ultimately change daily practices - and results - for the better.