This business frame is recommended by Avinash Kaushik at http://www.kaushik.net/avinash/social-media-marketing-success-guide-businesses/
The Business Frame
The framework is not a funnel (#funnelsaredeadlonglifefunnels). Its beauty is that it moves away from company selfishness and solves purely for audience intent. If we have an opportunity to engage with an audience, what’s the intent that that audience is expressing through their digital behavior. Due to this beautiful fact, it does not also worry about age, gender, income and other demographic or psychographic attributes. We have intent, why be the terrible Marketer that discriminates?
Every marketing channel we have access to, solves for some audience intent. For example, Paid Search solves for Think and Do intent. Social Media solves for See and Think intent primarily. If you have an effective Care content strategy, some Social Networks can solve for Care as well.
This is very important to remember as it helps us identify what we are solving for with Social Media. An example of the implication: Don’t expect short term sales/revenue from any social participation. There is no Do intent!
Success Social Metrics
Any business venture should yield short and, hopefully, long-term value. In my Oct 2011 post,Best Social Media Metrics, I’d created four metrics to quantify this value.
Conversation Rate (CoR) is a ratio of comments per post (or video or tweet or pin etc.) to overall Followers (or Page Likes). Is what you are saying interesting enough to spark the most social of all things: a conversation?
Amplification Rate (AmR) is the ratio of shares (or retweets or repins etc.) per post to overall Followers (or Page Likes). Is what you are saying so incredible and of value that I’ll stamp my brand on it and forward it to everyone I know?
Applause Rate (ApR) is the ratio of favorites (or post likes or +1s or hearts etc.) per post to overall Followers (or Page Likes). Do I think the content you’ve posted is interesting, even if I won’t bless it with my stamp and forward it on?
Economic Value (EcV) is the value of short and long-term revenue and cost savings. Do we make any money from being on Social Networks?
Using a tool like True Social Metrics, you can quickly create a glorious centralized dashboard like this one for your Social Media efforts…