Monitoring and Measuring
At the heart of a successful social media program is a commitment to monitoring and measuring. As discussed previously, if you do nothing else in social media, listen to the conversations that are occurring about the organization, its stakeholders, the competition, and the industry; it will be one of the most significant ways to mitigate risk and provide insight. Remember, just because your organization decides not to engage in social media does not mean that people are not talking about you. Consumers are now more in control of the message and they will take to their social networks to talk about their feelings, opinions, and sentiments. And your organization and your brand will be in the crosshairs.
“Consumers are in the midst of a conversation that isn’t ours. The race is on to grow ears to learn what they are saying.”
—John Hayes, CMO, American Express
It is the aggregated sum of these conversations and the overall resulting sentiment that has a major impact on the organization’s reputation management and brand equity. Traditional marketing and advertising are no longer the only drivers of how consumers view a brand and make purchasing decisions. They are looking for authentic opinions “from people like me” and are relying less on the traditional marketing messages. That is also why so many organizations have jumped into social media and, as discussed in the last chapter, many have done so without realizing that the business’s objectives ...