Social media is not a direct-response channel. I think we can all agree on that. But it absolutely is part of the sales funnel for your business. It's where you can build and foster relationships with unlimited prospects, partners and influencers at very little cost, adding value on a daily basis until a percentage of those individuals and organizations are ready to move forward - either into a conversation or an active buying cycle.
Establishing a quantitative value for social media as a component of the sales funnel has been difficult, largely because we rely on disparate systems to establish causality. That may be changing with updated features in Salesforce.com launching in October 2011. For the first time, you'll be able to see integrated social media accounts and interaction activity right in your core sales management platform.
Here's why that's so important.
Let's say you have 80,000 leads in Salesforce.com. You know 40,000 of them have Twitter accounts. Of those, you also know that 6,000 are following your Twitter account, and you know exactly which of those 6,000 have responded or interacted with you in that channel.
When that lead makes it way through the funnel - to an open opportunity and eventually a closed deal - you can now establish the source of origination and primary causality of pipeline movement back to the social media activity.
Social media may not be a direct-response lead channel, but with this level of integration you can evaluate it's effectiveness and ROI as an eventual sales producer in an apples-to-apples format with email, direct mail, events, etc. And if prospects have been impacted by multiple campaigns and channels (and most likely have), you can still measure and weight the primary causality factors all in a single platform.
That's powerful stuff, and will help many organizations finally bridge the gap between their focus on leads & sales, and the importance of investing in long-term social and content-based relationships well before customers are ready to buy.
How to (Finally) Measure ROI from Social Media
Other Posts by Matt Heinz
The 5 Things You Should Do Every Day - September 16, 2011
4 Ways to Get Your Sales Reps to Ask Better Questions - September 15, 2011
Are B2B and B2C Really That Different? - September 12, 2011
How to More Accurately Measure Trade Show ROI - September 4, 2011
The Three Social Networks Your Company Needs to Build - September 1, 2011
"Venture Funding for Dummies: A 2012 Report"

Free Ebook on the Revolution in Venture Funding
Sponsored by

How does MyVenturePad help you?
“I wish MyVenturePad had been around when I started my business. It would have made it easier.” Jim Estill
Jim Estill is a partner on Canrock Ventures and sits on the board of RIM (Blackberry). More »
Steve King is a partner at Emergent Research and a Senior Fellow at the Society for New Communications Research. More »
David Thomson is founder and Chairman of The Blueprint Growth Institute, a specialized management-consulting firm focused on helping.. More »
Phil Wainewright is a thought leader in cloud computing as a blogger, analyst, and consultant. More »
Barbara Weltman has written more than 25 books on entrepreneurship. More »
MyVenturePad
- YOU
- Ardath Albee
- Tac Anderson
- David Armano
- Peter Auditore
- Jonathan Salem Baskin
- Kay Bell
- Shashi Bellamkonda
- Tim Berry
- Bud Bilanich
- Danny Brown
- Kate Carruthers
- Paul Chaney
- Jeff Cornwall
- Ross Dawson
- Krishna De
- Niall Devitt
- Chris Dixon
- Jim Estill
- Mark Faggiano
- Brad Feld
- Seth Godin
- Michele Goetz
- Holly Green
- Lisa Haneberg
- Gavin Heaton
- Andrew Hunt
- Bill Ives
- John Jantsch
- Jeffrey Kaplan
- Tony Karrer
- Nina Kaufman
- Daniel Kehrer
- Steve King
- Joe Kristan
- George Lenard
- Joey Lo
- Tushar Mathur
- James Maule
- Dan McCarthy
- Becky McCray
- Les McKeown
- Drew McLellan
- Alen Mejer
- Barry Moltz
- Jacob Morgan
- Debra Murphy
- Jeff Nolan
- Tom Pick
- Skip Reardon
- Frank Reed
- Steve Roesler
- Zane Safrit
- Pamela Slim
- Dave Stein
- Greg Verdino
- Barbara Weltman
- Barbara Weltman
- Albert Wenger
- Fred Wilson
- David Zinger

About Social Media Today




