ForeSee Results Launches Social Media Impact Tool

US customer satisfaction measurement firm ForeSee Results has introduced a tool to enable clients to understand the impact of their social media marketing on revenue.

Last year, ForeSee launched CS SessionReplay, which records what web site visitors are seeing and doing online in a real-time movie format.

The firm's new 'Social Media Value Calculation' system uses methodology created by the University of Michigan, to link influences on customer visits to a web site, store or call center, with what they actually spend.

Using methodology already provided by ForeSee surveys, the system can uncover what influenced a customer, and link this information to behavioral data tracking how much that customer did or didn't spend.

In turn, this can be tied to other business-specific outcomes, such as opening a new account, signing up for a newsletter, requesting more information, etc.

'Linking what drove a customer to visit with what they actually spent or did as a result allows you to actually calculate a return on social media investment,' says Senior Product Director, Drew Bennett. 'You can accurately compare what you spend on social media marketing against the direct revenue it generates to see if you're investing wisely in social media.'

Preliminary research conducted using this model shows that some companies are spending millions in advertising their social media presence, only to discover that social media is influencing just 1% of all purchases. In some cases, promotional e-mails have been neglected in favor of social media, when e-mails have been reported as influencing up to 32% of purchases. For other companies, social media has been a primary influencer behind sales totalling 5-6% of all revenue, despite a relatively modest investment.

Web site: www.foreseeresults.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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