Social Media Scorecard III

As is well known there’s a great deal of chasing for the holy grail when it comes to finding the ROI and real metrics on enterprise social network activity (by this I mainly refer to social software inside the firewall rather than social media marketing). This to my mind isn’t so much a mistake as an attempt to measure activities that are extremely difficult to pin down, quantify and evaluate in any effective way or manner.

What I think we need to work towards is a more holistic overview, one that uses an approach of a social media scorecard. As I’ve blogged before the inventor of the balanced scorecard Bob Kaplan says it can’t be done with Social Media. I’ve the temerity to disagree.

What I’ve done is take Forrester’s one for IT and reapply it to social media.  I don’t see this as at all finished. It’s a move toward a balanced scorecard for the social enterprise and I reserve all caveats about the usefulness of scorecards per se. Nevertheless, I think I’m onto something here…

Goal Social Media Activities Candidate Social Metrics
Employee Engagement Increase employee engagement via genuine dialogue and polyphonic communication channels. Overcome Generational Shift. Discussing! Employee Satisfaction Surveys, Polls, Feedback from Social Media Channels (% Csat), CSAT on Generation – Y + Millenials + Boomers
Innovation Increase level of innovation via Innovation Wikis (e.g., Cisco I-Zone), Competitions and ‘wisdom of crowds’ gathering of info activities. Listening! Number of ideas submitted, number of successful ideas turned into pilots, number of pilots entering the market as new products. Time to market ratios.
Increase Productivity Increased productivity % increase, contribution in $/£ per employee
Improve Customer Experience Increase revenue per customer, increase engagement from the customer, social marketing Customer retention / satisfaction, inputs into marketing process, overall cost of marketing $/£ per $/£ sale
Social Engagement Connections, sociality of employees via Enterprise Social Networks, 2.0 profiles, Tagging across the Enterprise, Expert Locators, Silo Busting Social Network Analytics, (NodeXL), Measure of Relations, Overcoming Geo/Time barriers with synchronous & asynchronous comms / collaboration = decreased travel budget. ratio of flights/meetings vs online engagement.
Learning Social Learning, sharing of information, 2.0 Training, e-learning, EMS. Cost of training, number of courses taken/passed, diversity of learning offerings, CSAT. Degree of ‘Knowing what we know’ better.
Raw Competition Social Software as cumulative competitive Advantage Who dares wins & who doesn’t, appears in the next edition of ‘In search of Stupidity‘ 😉

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