CMOs have to deliver ROI in business, looking at user growth and engagement to measure the success of their social communities.
These metrics are often insufficient to gauge social activities as it develops into a serious channel for businesses.
San Francisco based analytics company Lithium Technologists has introduced its Value Analytics add on to deliver data on user visits.
The tool measures how customer satisfaction impacts customer support costs and quantifiable data like call deflection, Net Promoter Scores and CSAT (customer satisfaction score).
For years businesses have had challenges with the need to have a strong social presence. Often they do not have the right metrics to quantify the business impact of their social strategy.
It is hard to measure user satisfaction and the impact that the activities of community have on business.
Calculating the success rate of user visits to the website and how this impacts customer support costs is an endless task.
The Value Analytics tool is intended as an addition to its community health index.
It offers the opportunity to measure the results of community experience for customers and gauge impact on sales.
The tool also helps you to identify high-performing areas of the community and focus on areas that offer opportunities for improvement.
It collects data from over 400 communities so brands can create benchmarks by geography, industry and maturity. The tool is already used by Vodafone, Skype, GiffGaff and NowTv.
Brands can benchmark their community performance against similar brands by geography, industry and maturity using a series of different metrics including unique visitors, replies and solutions.
Rob Tarkoff, President and CEO of Lithium Technologies said: ""Using data gleaned over the last 14 years from our 400+ communities that see around 100 million unique visitors per month, we can outline best practices for our customers to get the most out of their communities".