Ok then, following on from previous posts on social media scorecard and E2.0 ROI, let’s tie them together, add some other factors and prepare the way to churn out some numbers. Here’s a progress towards a social business balanced scorecard:
Goal | Social Business Activities | Candidate Social Business 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, brand protection | Customer retention / satisfaction, inputs into marketing process, overall cost of marketing $/£ per $/£ sale. Brand insurance. |
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, Customer satisfaction/CSAT Degree of ‘Knowing what we know’ better. |
Sales & Turnover | Social Software as cumulative competitive Advantage. Increased Sales and Turnover + Productivity | Sales figures, sales generated per employee at employee cost (as above inc productivity). |
Refs
How to calculate the ROI of E2.0 / Social Business projects
Social Media Balanced Scorecard III
Determining the Value of Social Business ROI: Myths, Facts, and Potentially High Returns
How To Calculate the ROI of Enterprise 2.0
Creating the Social Media Balanced Scorecard, doing the undoable….
The Balanced Scorecard For IT: Value Metrics. Forrester
Measuring Social Media ROI is a pipe dream
6 replies on “The Social Business Scorecard IV, or ROI made easy”
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