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Benchmarking enterprises on social media influence

There is a market need for companies to quantify their online influence so that management can better direct efforts in underperforming aspects of a company’s social media presence. Also, small-medium enterprises need to develop online ‘radar’ tools to address their social media influence.

The benchmark is a snapshot system made up of components that identify problem areas. An e-fluence benchmark score will be adjusted to industry and company scale, and will help communicate to clients their projected results. Company X’s consulting services can use the e-fluence tool to quantify and prescribe target outcomes. Therefore, this tool will increase conversion rates for Company X's digital consulting services.

The idea is still under construction. We were wondering what you guys thinks about the idea in terms of feasibility and benefits for users (social media consulting services) and other stakeholder such the companies that hire the social media consulting services. Any ideas for improvement are most welcome!

  • Apr 26 2013: The idea is pretty clear and a very good one too especially for giant companies looking to target markets and reach globally, plus they can make their company look good to a diversified market, i guess its just bin a day, expect more comments as the days pass. Just a query though. Will the idea be a two way communication between the company and market too?. All in all the idea is great, if a company wants to have a brand name i think this idea will be Next Level for it.
    • Apr 27 2013: Hi Minahil,

      Thank you for your appreciation.

      In regards to your query, this tool will not only be an effective medium for communication between Company X and its clients, moreover it will be a global benchmark of how companies effectively invest in social media efforts to efficiently increase their outcomes. This tool will give a clear overview of strengths and areas of improvement that can be linked to measurable targets, ttransparency in what clients are paying Company X for, communication tool to stakeholders. Thus, understanding how their company’s social media presence relates to competitors allows clients to identify competitive advantages.

      Hope this answers your question. Thanks again for the much appreciated feedback.
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    • Apr 27 2013: Hi ZX,

      Considering the fact that we could only put a summary of the idea in the space provided above, here is more information to help you understand clearly.

      There is a gap in the market for a tool that can measure or benchmark social media performance in order to justify social media investment. There is an opportunity to develop a tool that employs more profound analytics and is directed to the unique needs of the global market.

      Social media enables companies to build brand awareness, have relatively inexpensive marketing, detect problems earlier and build rapport with customers by sharing company insights, gain customer insights and feedback.

      If you are Company X’s CEO, this tool can help you with a scorecard that tells management how they are performing in social media. We can create a tool which benchmarks KPIs for various social media platforms. Consulting clients allows them to determine the influence level they want to reach prior to engaging in Company X’s consulting services. Having a template generated which suits the management situation helps clients reduce the difficulty of implementing social media management. Management will only invest into social media management when they can link these activities to results.

      In a nutshell, this tool will Increase conversion rates in consultancy services, increase performance and success rate, increases consulting credibility and thus customer satisfaction.

      Thanks, I hope this clears some confusion, looking forward towards your valuable feedback.