As online marketers continue to shift toward social media strategies and 2.0 tactics, it is imperative to have the type of success metrics expected in online marketing applied to social media. While lifetime value of the customer, and return on investment remain the bottom line metrics for overall online marketing success, the social media elements of an integrated campaign now need their own specific metrics.
Media ratings company Nielsen Online just-launched the Digital Strategic Services (DSS) group for the purpose of monitoring social media online. This division of Nielsen will be focusing on developing strategic plans to manage brands’ online reputations. A core focus will be the Nielsen Online “Brand Advocacy Quotient,” or BAQ score.
The BAQ will be a function of product experience and includes both the quality of the product and the quality of customer service. With the explosion of social media, blogging, forums and other media collectively called consumer generated media (CGM), permanent online opinions are written to the positive, or negative, for brands.
According to Nielsen, “CGM is now vitally important to improving customer service, enabling quick response (including alteration of products) to customer feedback/complaints, identifying needs that present new-product opportunities, gathering competitive intelligence, and making C-level decisions on investments and even core business objectives.”
“84% of companies that are best in class at these capabilities and integrating them into decision-making and operations reported year-over-year improvement in customer retention rates.”, according to Marketing Vox.
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Brand Advocacy Quotient: the new 2.0 metric
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