Social Media: What's it measuring?

Generalizations are always dangerous. Never more so is this danger than with evangelists of social media, its uses and reach and power. I'm one of those evangelists. I can erupt online or not with poorly crafted turn-of-phrase regarding social media and its uses.

Having said all that I'm going where rational beings  fear to tread: a generalization, understated or hyperbolic,  shared online about ...social media. ( All I ask of you my colleagues and readers is a kind heart, be gentle in your replies. )

Social media magnifies the power of the masses. It amplifies our voices, our conversations, and their impact. For business, the point of that conversation and the raison d' etre for their/our support of social media is its cost-effective power in...generating referrals. 

What's been missing to-date with social media, and those who provide it, is a willingness and a means to connect those conversations within social media and the referrals they generate for new business to a company. The conversation is all about clicks and engagement and visits and...forward-to-a-friend. These are the metrics too many agencies measure, and promote, as signs of their work's success.

On a scale of corporate delight...Clicks are nice; calls are nicer; contracts are the nicest. A referral is just after a call and just before a contract in terms of generating delight in a client. Forward to a friend? If it doesn't result in a call...what's its point?   

Granted, the business model for social media doesn't connect the two. The agency incentives for a social media campaign too rarely include incentives for...referrals. Incentives for reducing customer churn? Unheard of. I'm sure some do. Some. That's the operative word.

I live in Iowa. But still, as much as I love social media, I'd counsel small business leaders to live in Missouri, the show me state. Or be Cuba Gooding in Jerry MacGuire and say Show me the money...Show me the money my business will save from reduced customer churn that results from a greater connection through a social media campaign. Show me the money. Show me the money I'll make from the increase number of customer referrals your social media campaign will generate.

And Yes, I'll work with you, agency, in a more open and transparent manner to make sure we're both successful. Because calls, referrals and contracts are metrics that matter to my company.

Why? They add c-a-s-h to my company. CASH. And that's the ULTIMATE metric I measure.