How to Measure Social Selling
Measuring a social selling program requires a mix of sales and marketing metrics. Success lies in more than just sales training, content creation or new leads flowing in the CRM with the Campaign Code “Social Media.” We have identified 3 different areas we closely measure that give a full picture of the effectiveness of a social selling program.
Please note that these metrics do not include new revenue/sales. Why? First off, most businesses already measure sales closely. The key for social selling is to link attribution of increased sales to the social selling program. That’s why it is so critical to measure each of the following on a regular basis using automated social selling tools that are available to sales enablement, sales management and marketing.
1. Social Selling Adoption – Getting sales people to use social selling is the cornerstone of any program. The easiest way to measure this is by giving the sales team a tool they can use to manage all their social media use. Not only will it make it easier for salespeople to share to manage multiple social media platforms, it will also give the program team a way to measure how often and what the salespeople are doing online. The below chart is a sample of the specifics we like to see measured.
2. Content Health – If sales are not rocketing upward even though the sales team has taken to social selling like ducks to water, maybe there is a content problem. But how can you know? This is why it is so important to measure the content mix. What is being clicked on? What isn’t? Is there too much original content? Not enough? Measuring content health will keep track of whether sales has the right tools in hand to unlock key relationships with prospects.
3. Sales Engagement – Likes, replies and shares (deemed ‘vanity metrics’) reflect how popular the sales person is who shared a particular post. However, these metrics can tell you much more. A sales person with a small network may get many interactions on content that is specially tailored to a highly targeted audience. Sales Engagements is a hybrid metric. It speaks volumes about whether a sales person has the right people in her network AND whether the content mix is right.
Finding the right metrics is important to the longevity of a social selling program. Social selling is new and exciting. In order to get more interest from managers and executives about social selling, a strong set of data is absolutely critical.
If you want more information on our analytics or how to measure social selling, please contact us.