‘Quantifying the value of social media can be a daunting task. Unclear objectives and numerous metrics add confusion. It’s time to ground your social media initiatives with a strategic plan that makes measurement clear and easy. Start by following the social media strategy funnel. Before diving into tactics, you need to define social media goals that align with business objectives.’
This is a great run down and gets to the heart of why marketers often run into trouble when trying to establish correlation between social media activities and business value. Start with your business goals and work backwards to the social tactics.
I also like how the author points out that social media can be used to support a variety of business areas from HR and PR to customer service and business intelligence. This reality causes cognitive dissonance within organizations because in most cases, social media has been relegated under the PR or marketing departments.
At my company, I have organized my team to act like an internal agency. My directs (who have both domain expertise and fantastic communication skills) manage several communities on behalf of the different business areas we serve. In my role, I act as a strategic business consultant, developing both campaign and program strategies.