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Establishing Social Metric Paper

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The amount of social media used in business is higher than it has ever been in history and is expected to grow only further in the future. As a result, social metrics is one of the most important assets a company acquires. It is astonishing that the majority of companies today do not have a way to measure its value. Establishing social metric is important for marketing managers because companies rely so heavily on the answers to questions that social media provides to businesses: What do customers think about us? What questions do they have about our products and services? What do they love? What are they saying about our competitors? A proper measurement of social interactions with the business is so heavily important because the information …show more content…

Everything about how we process information to how we interact with customers, partners, and employees is changed forever. Quickly, businesses went from one-to-one customer interactions to one-to-million, which has resulted in businesses, creating their own social strategies and business objectives that will match their larger business goals for the future (Solis, 2015). Professionals tie social media objectives to business objectives by first defining a vision. How can social media improve customer and employees relationships? The vision should not only inspire the internal audience, appeal to people outside your organization too. Businesses empower their employees with social tools, giving your employees the freedom to use social media and connect with others creates brand representatives ready to empower their brand outside of the office. In a survey it was discovered that thirty nine percent of workers use social tools to solve their business problems (Solis, …show more content…

The compass is made up of six components, each component details a specific part your business goal. The six parts of the compass are innovation, customer experience, operational deficiency, brand health, marketing optimization, and revenue generation (Etlinger & Li, 2011). The pros of using a social media measurement compass is each part of the compass gives the business a certain edge for example, brand health provides social insights that can add richness to market research and uncover threats and opportunities. The customer experience using social media brand health, cost savings, and increased revenue. As the compass journey continues each of the aspects begin to correlate off each other. However, some of the cons of using this tool are that disparate sources host conversations outside the main website which make it and tedious difficult to collect data and new behaviors around social media make it difficult for businesses to keep up their understanding of each such as a “like” on Facebook or a “retweet” on Twitter. Facebook recently added a new feature that enables the user to emotionally react to any post. The options are sad, mad, surprised, like, love, and funny. This change to their social media platform has now produced yet another segment of data marketers need to recognize when conducting the compass

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