social media business plan Archives

I really like klout.com for three good reasons: 1.) it’s about measuring online influence and I’m big on metrics as a key element of business planning; 2.) it’s a great example of a strong startup based on need — entrepreneur Joe Fernandez building something he wanted to use, and getting VC funding; and 3.) they released a new 2.0 version today (VentureBeat covered it … and there’s more detail on the Klout blog).

Metrics are the best possible drivers of good business planning processes and collaboration, because metrics can make feedback, the toughest part of management, almost automatic. Klout offers metrics on social media influence, so you can go beyond just counting followers or friends or whatever. True, I also like Klout because my daughter is marketing manager there. But I’ve been advocating this kind of social media metrics for a long time. Here for example is what I wrote about metrics just two days ago on Small Business Trends, which led to a discussion of metrics and measurement and better ways to evaluate performance:

I’ve seen objective metrics, like sales, costs, expenses, calls, subscriptions, downloads, visits, page views, minutes per call, or unique visitors work pretty well, especially when they’re part of a regular planning process. I still remember how well the metrics worked in my first job, as an editor for United Press International, when they gave us scores for how many newspapers used our stories instead of Associated Press.

So, with that in mind, here’s a (relatively) new facility to put numbers behind your social media efforts. Think about this as a tool for managing Twitter performance (if you don’t see the video, click here for the source site.)

http://blip.tv/play/AYHf9QwC

So the magic here is that Klout gives you a numeric score for your Twitter presence. I’m pleased. I’m a 45, which is 90th percentile. Sure Guy Kawasaki’s at 100, but my 45 beats a lot of people I know and respect. (What? Me competitive?).

So if you’re dealing with social media performance for a team, in business, maybe you can set goals for Klout scores and then follow up. Include the Klout score in plan review sessions.

What’s your score? What’s going to be your score goal for your management metrics?

OK, I agree, Twitter and Facebook can be fun, LinkedIn can be useful, but is the time you spend there really business time? Or is it just a rationalization for not doing real work?

I posted Social Media Business Plan in 5 Easy Pieces today on the American Express OPEN Forum. I like to think it’s a reminder that business activities ought to be about business, which means you can define business objectives, metrics, tasks and responsibilities, and then track and review progress. And of course that means revising the plan with course corrections on a regular basis.

It seems to me to be especially important for social media, because — at least for me — there is a fun factor that makes it especially alluring. Like allegedly low-calorie desserts. Waste your time without feeling guilty.

That’s one of the good reasons for doing a plan for your social media activities. And following up with it.