Six Key Aspects to Inbound Marketing ROI: Part 4 Operational Efficiency
When asked to prioritize their business objective using Altimeter’s Social Media Measurement Compass marketers are quick to select their primary goals as engagement, advocacy and increased revenue without consideration to the ways in which social media can improve operational efficiency. We all want our organisation to run a smoothly as possible and fine tune so that we can save on our company’s expenses, which in turn will deliver great profits.
Whilst there is an initial setup cost in social media and ongoing costs to outsource or resource community management and content production, there is no doubt that it can deliver operational efficiency and costs savings to an organisation over time. One area where social media kicks in and is a cost effective tool is with brand advocacy, where if done right, happy customers become brand ambassadors and help market to each other which extend the company’s reach for little or no extra cost. Another area is the accessibility to the customer – queries can be answered very quickly and inexpensively via social channels such as Twitter, than a more costly chat or phone interaction and call deflection is an easy factor to measure.
Not only are there the benefits with the social interactions, there are real benefits with scale. By way of blogs and authoritative content creation addressing the problems of your target online buyer persona, you are in effect answering many people’s questions at the same time. In the community at least 10 times the amount of people read post than write the questions – so you are getting a real economy of scale along with becoming the authority.
For measurement of social media’s impact on operational efficiency, we suggest looking at factors including call containment – where you can measure the potential cost saving by using social channels over call centres. Refine your customer service content to reflect the time spent on pages more relevant to inquiries that are obvious from Google Analytic data. Map what topics your web visitors prefer, those which ones are most liked and shared.
You can also look at cost containment opportunities and decide which topics are best answered online. All of these metrics gathered will enable you to identify inefficiencies and align you web and social content to the main customer queries. It will also enable you to develop your fan base to accelerate the impact of your marketing, the passion of your customers, and deliver more meaningful insights around your product.
This was the fourth part of our 6 part series in the Six Key Aspects of Inbound Marketing ROI. The next instalment, Part 5 – Customer Experience is only a click away.
If you enjoyed this blog – please check out our latest ebook – “The Inbound Marketers Manifesto“
About the Author
Stephenie Rodriguez founded Mighty Media Group, a leading data-driven digital, mobile and social marketing strategy and solutions firm, in 2004 and is currently the company’s Chief Executive Officer. She is also the former publisher of Ocean Drive Magazine (Australia), a speaker and futurist on all aspects of social technology, an evangelist of engagement, and has advised companies including SSP – The Food Travel Experts, Austereo, JR/DutyFree, Radar Group of Companies, Transfield, Allied Mills, Lincoln Indicators, Income Solutions, and Bayer (Berocca), Toyota, Mercedes Benz, and the UN FAO. You’re likely to find her Tweeting here @digitalgodess or present at events such as #SXSWi, #TFWA, #Tedx and #SocialBiz.