By Barton Goldenberg
On October 14, 2015, ISM held its “How Your Organization Can Benefit from “Branded” Social Communities” Webinar. We had many Webinar attendees and there were many questions posted about “branded” social communities.
During our Webinar, we submitted this polling question to Webinar attendees:
“My organization is actively pursuing one or more branded community projects at this time.” (Yes, No, On the Drawing Board)
Out of all Webinar attendee responses, 60% selected Yes, 17% selected No and 17% selected On the Drawing Board.
The Webinar attendee poll response rates suggest that many organizations are finally beginning to realize the importance of branded communities. Branded communities promote business goals while providing members with information, support, interaction, and comradery. The value-add of branded communities include the ability of organizations to target topical communications to its customer/prospects via blogs, forums, polls, contest, etc. Branded communities are also rich environments for innovation using ideation tools (e.g., running a contest that asks customers to share their most creative use of a product).
All organizations housing a branded community continuously monitor their community with community metrics. As W. Edwards Deming once said “If You Can’t Measure It, You Can’t Manage It”. It is very important that key community metrics/KPIs get set at the outset of the community initiative. We suggest these KPIs:
- Engagement – Judge by criteria including the number of posts/comments and rates of community participation.
- Community Growth – Judge by criteria including the number of new community members, average time spent on community and page views.
- Advocacy – Judge by criteria including the number of quality of product/service recommendations posted by members.
- Sales – Judge by criteria including the amount of members purchasing new products/services.
- Cost Avoidance – Judge by criteria including the amount of money saved (e.g., fewer customer service calls)
- Satisfaction – Judge by members’ satisfaction ratings.
During our Webinar, we additionally highlighted how best-in-class organizations are integrating important comments posted within their branded communities into their CRM systems for analysis.
To learn more about how your organization can benefit from branded communities, you can see an entire replay of the October 14 Webinar: How Your Organization Can Benefit from “Branded” Social Communities, please click here
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Barton Goldenberg, is the founder and president of ISM Inc., customer-centric strategists/implementers serving best-in-class organizations globally. As a CRM leader for 30 years, he was among the first three inductees in the CRM Hall of Fame. Recognized as a leading “customer-focused” author, his latest book, The Definitive Guide to Social CRM, is hailed as the roadmap for Social CRM success. Barton is a popular speaker on “maximizing customer relationships to gain market insights, customers and profits”. He is a long-term columnist for CRM Magazine and speaker for CRMevolution and frequently quoted in the media.