What Matters More in Social Media – Quality or Quantity?

You’ve may have heard this many times and probably even used the “Quality Trumps Quantity” argument when justifying your less-than-stellar social media results to your management. As  much as I believe in the quality argument, the reality is numbers do matter and here’s why.

Let’s take a very familiar example like dating. The more people you meet, the more likely you are to meet “the right one”. However, the argument can be made, it’s the quality of single people you meet that’s really important and not the number of “eligibles”.

Agreed. However, the assumption (and the hope) is that the few people that you do meet are of super-quality, thereby improving your odds of happily-ever-after, without any need to meet additional folks.

Let’s take the same example in the business context, you can improve your odds of success by reaching as many people as you can within your budget constraints (quantity) or reaching a highly targeted group of customers (quality). In the social media space, how confident are you of hitting that sweet spot?

Another underlying assumption for “quality over quantity” argument is that both are mutually exclusive, that more numbers mean lower quantity or vice versa. Can you really say that the fewer leads that you did capture were of better quality than the leads from a campaign that generated higher volume of leads?

Generalizations can be misleading and we have to account for differences in industry, business model, type of product/service, goals, as well as target audience. Whether reaching 100 influencers is better than reaching 10,000 customers will depend on your industry and business objective.

So going back to your original argument to your management that it’s really the quality that matters not the quantity, make sure you’re ready to back it up by showing that your conversion or engagement rates were indeed higher than if you had 10x the reach. If you can’t demonstrate that your business goals were indeed met by reaching a smaller audience, it’s a hollow argument and sooner or later, your business results will reflect that.

In my follow up post next week, I will discuss some simple ways to define your social media goals and how to measure what really matters.  Have a great weekend!

What is Social Media Governance and 5 Key Elements of a Successful Model

I’ve been noodling on the topic of social media governance for a while and it took a chat with Jim Storer and Aaron Strout on the Quick n’ Dirty podcast to finally get it on my blog. (Thanks for the question, Jim!)

Much has been written about the importance of social media policy and why every company should have one. However, what’s often overlooked by companies and experts alike is that creation of a policy by itself isn’t cause enough to celebrate.

So, let me start by saying that social media governance is much more than just a policy (even if policy is the first thing that comes to mind, when you use  the term “Governance”).   Governance is much more broader in scope than policy and has greater significance, especially for larger companies.

While your social media policy defines how your employees should engage via social media channels, your governance model is a bundle of policies, guidelines, processes, and educational resources to guide your employees to successfully represent your company in social media activities.

Here are the 5 key elements of a solid social media governance model:

#1 Definition of Scope: This sounds so basic but it is critical that you define what is and isn’t covered by your governance model. Be sure to call out the specific social channels along with the policies and guidelines that relate to each of them. Depending on business and organizational needs, some companies may decide to have a common governance model for their internal and external customer-facing communities, while others may decide to keep the two separate. So it’s essential to call out which ones are included to provide clarity to your employees.

#2 Frequency & Process for Updates: Given that social media is evolving at the pace of light, your governance model will need regular review and update. Make sure you define the frequency of updates and the process for those updates. This will ensure that your governance model is not outdated and provides clarity on how the updates are made. If you want employee participation in the review (highly recommended), make sure you call it out along with details on when and how to provide input.

#3 Branding Guidelines: For a large company, the broad variety of social media channels makes it imperative to clearly call out the branding guidelines for your external channels. The same principles that govern the design of all your external-facing communications such as website, collateral, etc. should be applied to official social channels. This would include, but not limited to, branded templates for your social channels like Twitter, social sharing & follow icons, as well as the use of company logo and related elements on external-facing channels.

#4 Training & Education: A solid governance model should have plenty of educational resources for employees. This should include training on responding to customer feedback, both positive and negative. Typically, it’s the customer support and PR organizations that are tasked with the responsibility of responding to customer feedback. However, social media is breaking down the traditional boundaries and depending on your company’s social media engagement policy, it could be a marketing or salesperson who is having to respond to a customer query. So it’s essential to have training as a cornerstone of your social media governance model.

#5: Approval Processes & Continuity Planning: Your governance model should clearly call out what approval processes are in place for employees to engage in social media. It should answer questions such as: Can everyone participate (highly recommended) or only members of certain external-facing groups can engage via your company’s social channels? What is the process for getting approval for an official account?

Last but not the least, it’s critical you have a continuity plan, which covers not only accounts are set up but how the account will be transitioned to a new owner, if needed. Having a centralized governace model in place will ensure that you’re not locked out of your highly popular Twitter or Facebook account/s if the person engaging on your company’s behalf decides to leave the company.

Bottom line, rather than policing your employees, start with a robust social media governance model as that will empower your employees with the right resources and training to become successful advocates for your company.

If you think there are other items that should be included here, feel free to chime in.

Listening (by itself) is Not Enough in Social Media

I recently talked about ”B2B marketing in the Real Time Web” at the #140conf in San Francisco, organized by Jeff Pulver. One point that resonated the most with the audience is that “listening” has become the most overused and abused word in social media.

Some people actually think that “listening” is  a brand-new concept invited by social media gurus. The reality is that if you need an expert to tell you that you should “listen” to the customers, your business may already be in more trouble than you realize.

While listening is a great first step in getting started in social media and helps set up a good foundation for your activities, that by itself is not enough any more. As consumers get more savvy in their use of social media, it’s become a business imperative that companies move beyond just listening and start responding to what they’re hearing.

Setting up social channels by itself or “being on Facebook” is not good enough any more, companies need to have solid processes in place to quickly relay feedback from social media channels to create better products and help solve customer issues before they reach a crisis point. Social media monitoring/listening tool vendors should be focused on translating the streams of data into meaningful insights for their clients as quicky as possible.

In this fast evolving conversational age,  the true measure of success and a key differentiator will be how quickly companies respond to feedback from their customers. It’s time to assess – Is your company ready for this challenge?