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Understanding How Social Media Influences Enterprise Efficiency Metrics

Communication within the enterprise

It may seem hard to relate internal workflow of an organization with social media where people freely interact with each other, but it’s not. Social media demonstrates the overlap of interests and expressions using a visual format. Understanding the overlapping areas is key to increasing enterprise efficiency.

By using social platforms, enterprises can fast-track employee communication. That requires pushing all inner circles including enterprise blog, productivity reports, webinars, brainstorming sessions and business summits to overlap with each other.

The takeaway? 

Increased efficiency of the organization. In large enterprises, small teams are often not in tandem with each other. The “two heads worse than one” theory describes the benefits of small teams, but such benefits can only be reaped when those teams connect to each other. Only then voice of bottom-feeders make a way to management-level decisions, necessary for a highly efficient enterprise. 

This brings us to acknowledge social media’s role in Closed loop marketing

A key touchpoint in enterprise efficiency index, closed loop marketing boils down to inter-team communication. Oftentimes, marketing teams don’t have a clue of what sales teams are up to. If there is a system that notifies them about “warm” and “cold” leads, processed by the sales reps, inter-team communication would speed up and enterprise efficiency increase tenfold.

Traffic, high-quality landing pages and informative content expedite leads. From premium social media dashboard, all these can be monitored. The analytics widgets always offer a holistic view. For example, a simple Facebook page overview can unearth useful insights. 

Take a look:

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The content that helped the page garner 264% rise in engagement has to be the dealmaker. A secondary, and perhaps derivative insight is such content style, topic and format can cause a 330% increase in clicks and 100% increase in likes. 

Closed loop analytics has few additional benefits, which social media amplifies. It’s important for enterprises to come up with new marketing parameters, so that they quantify every aspect pertaining to their functionality. Here’s how social media assists in figuring out new parameters:

Facebook, Twitter and Google AdWords offer enterprises tools to track conversion, interaction, reciprocity and funnel activities. The four cornerstones of closed loop analytics are:

Social media functions as the referral catalyst to bring visitors and makes the conversion process easy with the help of virality score, size of conversion on and off the landing page, number of people talking about your brand, employee participation in major events, volume of interaction between sales reps and prospective customers and so on.

CRM going social

CRM is no longer viewed as a system doing cold-hard calculations and spawning value-agnostic results. Social media’s use in customer handling changed the CRM experience. Another aspect of marketing that factored in was mobile. Plenty of customers access brand pages on social media via mobile. In fact, mobile and social media are two major traffic drivers for e-commerce sites. Hence, to connect with customers, enterprises need to bank on CRM-social integration. 

Here’s how CRM management via social media increases enterprise efficiency:

CRM’s usefulness in marketing has only been tapped recently. Its merging with social media is a very recent phenomenon. Below are some case studies articulating the power of social CRM for B2B and B2C enterprises:

Case study 1

Bosch Professional Power Tools, the B2B subsidiary of the Gerlingen based engineering and electronics company opened a social media service called “Bob Community.” CRM fully integrated into the service to measure its reach and effectiveness. The community quickly garnered 450000+ visitors and 30000+ fans. The CRM, loaded with big data, helped the company better understand the behavior of its social media fans. 

Case study 2

Walt Disney pieced together CRM and self-developed communities. The aim was to generate multidimensional data. The platform offered by them included a broad range of customer activities such as theme park visit, restaurant reservation, sharing images and links and more. The platform is called My Disney Experiences. Its USP is it personalizes customers’ brand perception and allows them to be in charge of their experiences.

The case studies demonstrate why enterprises need to experiment more with CRM, especially if they expect to fully understand the customer viewport. More so, enterprises need to scale, or else their efficiency would reach a dead-end. CRM-social integration keeps pace with changing customer demands and helps enterprises scale easily. 

Social collaboration

Enterprises can use social media to foster employee collaboration. Microsoft has harnessed social media to improve communication and collaboration between their employees. Instead of free social platform, the tech giant used a private and completely secure social software called Yammer, which they acquired four years later. 

Microsoft was the harbinger of a trend, that’s about to become mainstream among enterprises. A McKinsey Global Institute Report, published in 2012 reads “fully implementing social technologies, companies have an opportunity to raise the productivity of interaction workers —high-skill knowledge workers, including managers and professionals—by 20% to 25%.”

One might argue employee collaboration is possible without social media. That’s undoubtedly true, but when social media is thrown into the equation, employees

Outbound social collaboration takes place between customer care reps and potential clients. Facebook pages and Twitter handles of retail merchants always attract crowd, all of whom are prospective customers. 

As surprising as it sounds, B2B clients expect the same level of personalization that their B2C counterparts are accustomed to. Hence, they don’t mind being a little chatty on a social network, allowing the service provider the opportunity to bag leads. This kind of collaboration brings leads on the table and thereby increases enterprise efficiency.

Internal social media content

Internal social media (ISM) fosters employee engagement through dialogue and collaboration. ISM’s greatest contribution, however, is quality content, effective for in-house usage. This kind of content is full of facts and reliable, because it is coming from sources inside the company. ISM content stays updated so that it can keep pace with what’s happening on the social platforms. Most importantly, even though generated for insiders, ISM content can be used to educate customers.

Below is a visual depiction of the comparison between enterprises harnessing ISM content and enterprises not harnessing it:

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ISM content is crisp and employee-generated. Though used for non-marketing purpose, it could be as effective as user-generated content for marketing. Because the content revolves around employee feedback and criticism, everyone involved gets a comprehensive idea of how the enterprise is functioning. ISM content is a great proxy for SWOT analysis. 

Summing up

Employee productivity and enterprise efficiency are deeply connected. Employees working in an organization with latest closed loop analytics strategy, effective communication process and advanced social collaboration tools are bound to be productive. As a result, the efficiency of the enterprise is sure to go few notches up. What’s important is how social media adds to it, and this article shows how it does.

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