Let’s face it – in this increasingly interactive, digital world, it is nearly impossible to argue against pursuing a more expansive social media presence. But the inevitability of adopting social media as a CRM tool should not eliminate the expectation of true value derivation; proper entry into the social media sphere should be as much about sizably improving customer loyalty and unlocking new business development channels as it is about avoiding the appearance of irrelevance. The issue of evaluating the success of your social media strategy thus becomes a matter of measurement:
- What metrics should be used to define a successful social CRM strategy?
- When should tangible benefits be realized?
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What justifications are needed to warrant further investment of dollars and staff into the social media mix?