{"id":5393,"date":"2017-07-07T16:45:38","date_gmt":"2017-07-07T11:15:38","guid":{"rendered":"https:\/\/www.rankwatch.com\/blog\/?p=5393"},"modified":"2023-06-27T12:53:30","modified_gmt":"2023-06-27T07:23:30","slug":"understanding-how-social-media-influences-enterprise-efficiency-metrics","status":"publish","type":"post","link":"https:\/\/www.rankwatch.com\/blog\/understanding-how-social-media-influences-enterprise-efficiency-metrics\/","title":{"rendered":"Understanding How Social Media Influences Enterprise Efficiency Metrics"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Communication within the enterprise<\/b><\/h2>\n

It may seem hard to relate internal workflow of an organization with social media where people freely interact with each other, but it\u2019s not. Social media demonstrates the <\/span>overlap of interests and expressions using a visual format<\/a><\/strong>. Understanding the overlapping areas is key to increasing enterprise efficiency.<\/span><\/p>\n

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.<\/span><\/p>\n

The takeaway?\u00a0<\/b><\/h3>\n

Increased efficiency of the organization. In large enterprises, small teams are often not in tandem with each other. The \u201c<\/span>two heads worse than one<\/strong><\/span><\/a>\u201d 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.\u00a0<\/span><\/p>\n

This brings us to acknowledge social media\u2019s role in Closed loop marketing<\/b><\/h2>\n

A key touchpoint in enterprise efficiency index, closed loop marketing boils down to inter-team communication. Oftentimes, marketing teams don\u2019t have a clue of what sales teams are up to. If there is a system that notifies them about \u201cwarm\u201d and \u201ccold\u201d leads, processed by the sales reps, inter-team communication would speed up and enterprise efficiency increase tenfold.<\/span><\/p>\n

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.\u00a0<\/span><\/p>\n

Take a look:<\/span><\/p>\n

\"\"<\/a><\/p>\n

Source<\/strong><\/span><\/a><\/p>\n

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.\u00a0<\/span><\/p>\n

Closed loop analytics has few additional benefits, which social media amplifies. It\u2019s important for enterprises to come up with new marketing parameters, so that they quantify every aspect pertaining to their functionality. Here\u2019s how social media assists in figuring out new parameters:<\/span><\/p>\n

Facebook, Twitter and Google AdWords offer enterprises tools to track conversion, interaction, reciprocity and funnel activities. The four cornerstones of closed loop analytics are:<\/span><\/p>\n

    \n
  1. Visitor arrival (from social media or high-traffic channels).<\/span><\/li>\n
  2. Visitors staying on the landing page and browsing the content.\u00a0<\/span><\/li>\n
  3. Visitors converting to leads.<\/span><\/li>\n
  4. Leads converting to customers.<\/span><\/li>\n<\/ol>\n

    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.<\/span><\/p>\n

    CRM going social<\/b><\/h2>\n

    CRM is no longer viewed as a system doing cold-hard calculations and spawning value-agnostic results. Social media\u2019s 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.\u00a0<\/span><\/p>\n

    Here\u2019s how CRM management via social media increases enterprise efficiency:<\/span><\/p>\n

      \n
    1. Customers are individuals, and on social media, they converse with each other. When CRM integrates with social media, enterprises get a chance to track customer conversations and turn those conversations into transactions.\u00a0<\/span><\/li>\n
    2. CRM 2.0 focuses on customer experience and customer collaboration. Social media is where customers are found in droves and integration between social media and CRM leads to connected customers and ensuing sales, followed by a boost in enterprise efficiency.\u00a0<\/span><\/li>\n
    3. Social listening makes brands familiar with collective customer psyche. CRM-social media integration eliminates the need for a separate listening tool. Besides, enterprises get to listen to communities, not just an individual. Monitoring and listening to communities help them <\/span>configure social metrics<\/a><\/strong>.<\/span><\/li>\n
    4. The biggest benefit of CRM-social integration is a consolidated dashboard, from which a brand can manage customer feedback, storage inquiries, sales, promotional campaigns and public relations.\u00a0<\/span><\/li>\n<\/ol>\n

      CRM\u2019s 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:<\/span><\/p>\n

      Case study 1<\/b><\/h3>\n

      Bosch Professional Power Tools, the B2B subsidiary of the Gerlingen based engineering and electronics company opened a social media service called \u201cBob Community.\u201d 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.\u00a0<\/span><\/p>\n

      Case study 2<\/b><\/h3>\n

      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 <\/span>My Disney Experiences<\/span><\/a>. Its USP is it personalizes customers\u2019 brand perception and allows them to be in charge of their experiences.<\/span><\/p>\n

      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.\u00a0<\/span><\/p>\n

      Social collaboration<\/b><\/h2>\n

      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.\u00a0<\/span><\/p>\n

      Microsoft was the harbinger of a trend, that\u2019s about to become mainstream among enterprises. A <\/span>McKinsey Global Institute Report, published in 2012 reads<\/strong><\/span><\/a> \u201cfully implementing social technologies, companies have an opportunity to raise the productivity of interaction workers \u2014high-skill knowledge workers, including managers and professionals\u2014by 20% to 25%.\u201d<\/span><\/p>\n

      One might argue employee collaboration is possible without social media. That\u2019s undoubtedly true, but when social media is thrown into the equation, employees<\/span><\/p>\n

        \n
      1. Enjoy open dialogue: Employees feel hard-pressed in executive level meetings. Many of them feel inhibited to interact in an overly formal setting. On social media, however, they spontaneously interact with each other and share their opinions which put into perspective new inputs.<\/span><\/span><\/li>\n
      2. Information workers: IT employees are known as information workers. Studies show remote staffing accounts for 66% information workers. Since not physically present, they need cutting-edge technological apparatus to collaborate with office employees as well as other offshore workers. When they use social network to connect to their peers, searchable record of knowledge reduces as much as 35%, resulting in a more agile environment.
        \n<\/span><\/li>\n
      3. Offload emails: In most organizations, email is the default mode of communication between employees. It\u2019s an outdated way of communication as email servers are not built for group discussions, even though some email automation platforms do allow that. Besides, communication via email takes a lot of time. When employees interact with one another on social media, the communication takes less time and email servers are unburdened.\u00a0<\/span><\/li>\n<\/ol>\n

        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.\u00a0<\/span><\/p>\n

        As surprising as it sounds, <\/span>B2B clients expect the same level of personalization<\/a><\/strong> that their B2C counterparts are accustomed to. Hence, they don\u2019t 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.<\/span><\/p>\n

        Internal social media content<\/b><\/h2>\n

        Internal social media (ISM) fosters employee engagement through dialogue and collaboration. ISM\u2019s 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\u2019s happening on the social platforms. Most importantly, even though generated for insiders, ISM content can be used to educate customers.<\/span><\/p>\n

        Below is a visual depiction of the comparison between enterprises harnessing ISM content and enterprises not harnessing it:<\/span><\/p>\n

        \"\"<\/a><\/p>\n

        Source<\/strong><\/span><\/a><\/p>\n

        ISM content is crisp and employee-generated. Though used for non-marketing purpose, it could be as effective as <\/span>user-generated content for marketing<\/a><\/strong>. 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<\/a>.\u00a0<\/span><\/p>\n

        Summing up<\/b><\/h3>\n

        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\u2019s important is how social media adds to it, and this article shows how it does.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        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\u2019s 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, […]<\/p>\n","protected":false},"author":17,"featured_media":15117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-5393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basic-seo","entry"],"acf":[],"yoast_head":"\nEnterprise Efficiency Metrics: The Impact of Social Media<\/title>\n<meta name=\"description\" content=\"Social media demonstrates the overlap of interests and expressions using a visual format. 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