Posts tagged ‘Dell’

Social Media Analytics: What is the Value of a Hug?

By Mary Ludloff

You know it’s going to be an interesting day when the CEO (that would be Terence) who also happens to be your esteemed co-blogger asks: “How much is a hug really worth?” This question was brought about by a recent article on how banks are using social media analytics tools to gain insights about their products and services. Here’s a direct quote from the article:

“Though she gets asked a lot about the ROI of social media, SunTrust’s Buckridee acknowledges that it’s hard to measure the ROI on goodwill generated through positive social media conversations. My question is, how do you measure the ROI of a hug? … Because that’s what we’re doing with the Twitter team. We’re putting a face to the brand — giving them a human voice and talking to them. We’re focused on building loyalty. … We’re starting to turn that thorny dialogue into happy customer tweets.”

Okay. Well, first of all, as most marketers will tell you, “hugs” have value. Actually, what most marketers will tell you is this: “You better be able to measure the value of that hug so that you can justify how much you are willing to spend to get it and show just how that ‘spend’ results in sales.” Because if you don’t, you may find yourself standing in front of a CEO (say from a fortune 500 company) and when you tell him that you grew Facebook friends by 20%, have the CEO reply, “I don’t care how many friends we have! I need more revenue!” True story (and believe me, every marketer has at least one of these). (more…)

May 11, 2011 at 6:03 pm Leave a comment


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