Measuring social business ROI: results from an IBM Jam
In February this year, IBM hosted a Jam (a 72-hour online forum with participation from IBM and beyond) on the topic of Social Business.
In case you’re not familiar with the term Social Business, here is definition I hear a lot in IBM corridors:
1: a business that embraces networks of people to create business value
This goes beyond social media, which is largely the domain of marketing/comms departments to touch on the very fabric of the enterprise, including internal collaboration and social networking with partners and suppliers.
As is the case with just about any discussion around Social Business, the thorny issue of ROI came up. How do you measure the value of this undertaking?
These are some of the metrics Jam participants suggested:
I’ve added in parentheses the departments that have a major stake in those metrics. As you can see, this goes way beyond customer acquisition and the normal domain of mark
Are there key metrics you think should be added to the list? I’d love to hear!
Read more on the Social Business Jam (pdf)
Read more about Social Business