1. measuringSocial Media 404 SOCIALMEDIA ROISocial Media 404s Balanced Scorecard Approach to ROIThe debate is not whether Many organizations use a form of theto collect a ton of information, butKaplan-Norton Balanced Scorecardthey do not provide understanding.Social Media is of value, approach to implement performancethe question is:measurement.The monitoring tools of today typicallyprovide too much data to sift through. how much value?Its been around so long that it hasWhile many are still saying you cant gained very wide adoption as a keyreally measure Social Medias Returntool, and even for those who cannotinsideOn Investment (ROi), that doesadopt a complete measurementnothing to inform organizations framework (its a lot of work), they atOASIS Overview!2looking to invest in Social Media.least understand the concepts andScorecard Quadrants! 2language.A hint of not being able to measureMeasures and Metrics!3ROI is enough to stop mostorganizations from pursuing SocialThere are many successful and How To Get Started!4widely used monitoring tools availableMedia immediately.Every organization, for-profit or not, must have income in order to cover expenses. It is aSo whats the fuss aboutperfectly logical, and legitimate question, to ask what the return is on any expenditure.Investing in Social Media is no different, in our opinion.ROI?Thats why weve developed frameworks to both plan your program, and measure what youget out of it. But ROI remains an organizationally-subjective concept, and is not alwaysdetermined with a hard data result. Thats why we hope youll consider your own balance ofmeasures to monitor your program. Its the only way to determine your ROI.

2. OASISccBefore you get started,know where youregoing to end up. ObjectivesKnow what you are trying toachieve before you doanything else. AudienceYour audience have their ownneeds, capabilities,behaviours. Profile them tomake sure you understandthem.Monitoring tools dont Each quadrant is seeking toStrategydetermine an understanding in an speak C-Levelarea of focus. The system balancesSelect a method/channel toMonitoring tools today do not external and internal measures, asreach your audience. One signicantly (if at all) assist thewell as soft and hard data. they want, and one you can interpretation of collected data intosupply. understanding the achievement (orCounter clockwise from the upper left not) of measurable objectives, which quadrant: Implementation is how organizations run.Now you can pick theThats why we developed a Social Health seeks to understandtechnologies and other framework that representshow the organization is perceived onresources you need to deploy informationalized data in a familiar the web where no formal relationshipthe program. grid to organizations: the Balancedexists, and what information can be Scorecard. determined (think Social or ValueSustainmentJust as this approach can Network Analysis) that may be cascade into customizedNurture your program withimportant to the organization. departmental scorecards in the participation, measure the organization, were using a customCommunity Vitality seeks toresults with the Social Media scorecard developed for just for understand the mood and emotion ofBalanced Scorecard, adjust Social Media.the online relationships an your program as required.organization nurtures with theircommunity members.SocialMedia404.com/OASISSimple, balanced measuresIntegration examines the people,In the digram at the top of the page, process, and programs in the you can see the familiar quadrantorganization and where/how Social The Balanced Scorecard approach immediately, as well as the Media is affecting the inside.Initially a simple measuring tool, it has central focus on objectives andevolved into a robust measurementCapital tracks the real resources and planning system used extensively measures. The x-axis delineates the(nancial, human) an organization in all industries around the world. two important balanced perspectives of a scorecard, internal and external. invests to establish and maintain the Visit BalanceScorecard.org for morecommunity.information. 3. Quadrants Internal and external Hard and soft dataSocial Health how the organization is perceived on the web where no formal relationship exists.Community Vitality the mood and emotion of the online relationships an organization nurtures with their community members.Integration the people, process, and programs in the organization and where/how Social Media is affecting the inside.Where does this data come from? CapitalThe success of any performance measurement system depends on picking the the real resources (nancial,right things to measure, and getting the right data as simply as possible. human) an organization invests to establish and maintain theThe Social Media Balanced Scorecard will typically use this approach: community. Social Health relies upon monitoring, or listening tools, Integration examines the internal aspects of the congured to trawl the vast amount of blogs, discussion program, and will collect data depending upon the areas, and social networks to obtain conversational dataobjective(s). For example, efciency and productivity pertaining to the objectives at hand. This is the socialobjectives will look for data using internal reporting, commentary that exists outside the immediate world of ansuch as Time Management Systems. But employee organization. The type of information you are looking for engagement and retention objectives will use survey usually falls into two categories: (1) sentiment (positive, data to provide measures. negative, or neutral), and (2) volume (the amount of Capital measures are always looking to track the conversation, if any at all). nancial and human investments of any Social Media Community Vitality1 is the key to understanding Community program. In the case where the objective(s) are Experience (CX) and is best understood by doing primary related to the contribution of Social Media to nancial research with an organizations community members using a gain, data from sales may also be examined. survey tool. The SM-BSC looks for Community Vitality usingConversely, where Social Media is contributing to cost these indicator areas:reductions, related measures may be tracked, such as call-center expenses. ! Sense of trust ! Support from other members ! Opportunity to contribute ! Socialization between members ! Sense of respect ! Support from community owner(s) ! Duration and frequency of visit 1An adaptation of measures from the Gross National Happiness Index. 4. Getting into Social Media starts with OASIS. This How To process will allow you to plan a highly effectiveGet Started program, and now, with the Social Media BalancedScorecard, youll know if the program is working.About Social Media 404implement a social media strategy that is authentic and appropriate for you. SocialMedia404 is a brand new organization born of the need to bridge the gap between traditional business Educate. Evolve. Evaluate. functions and practices, and the explosive use of new We deliver Education services through workshops social media technologies.and speaking engagements, Evolution services to help you define, build, and measure your program, and Founded by two experienced business consultants with Evaluation services to help get your program back on over 50 years of combined international experience, we work with clients in all industry verticals across Northtrack. America.We use a proprietary framework, called OASIS, whichHow can we help you today? claries everything you need from measurable objectives to a sustainable implementation. We help you plan and P.O. BOX 29129 ST. JOHNS, NLA1A 3N3CANADA 709.728.1518 | 506.453.1736CONNECT@SOCIALMEDIA404.COMWWW.SOCIALMEDIA404.COM Photos: pg1: ickr.com/bb_matt pg3: ickr.com/29901781@N02