Performance measurement for SocialCRM

28 Aug

Today one of my students, Fabio Kornek, graduated on the development of a performance measurement framework for SocialCRM. For his work he received an 8 and the abstract of his thesis is provided below. A copy of the thesis is available through Igitur.

The use of social media by businesses to reach, engage and serve customers, called Social CRM (sCRM), has soared in recent years. The initial enthusiastiasm that preceded many of the quickly launched sCRM initiatives, however, often soon subsides in the face of management challenges emerging due to the lack of best practices and standard approaches. These process immaturities pertain as well to sCRM performance measurement activities, which unfavourably coincides with an increasing need to reliably measure the effectiveness and benefits of sCRM activities.
Social media managers are currently methodologically ill-equipped to meet the demands of increased accountability. On the one hand are traditional performance measurement approaches ill-suited to social media environments. On the other hand exists an acute lack of appropriate measurement approaches and frameworks that provide structure and guidance on what exactly and how to measure in order to adequately assess performance of social media and sCRM activities. Although a limited number of vanguard firms have developed insular frameworks to address this issue, there are currently no satisfactory generic solutions on the market.

This research describes a measurement framework based on balanced scorecard (BSC) that seeks to incorporate the critical aspects and requirements for effective sCRM performance measurement. It was developed by thoroughly researching the specific design and practical requirements of sCRM measurement. The framework was validated by adopting case study methodology to examine the measurement processes of seven case organizations with superior social media practices. Interviews with key informants served as the primary method for the gathering of qualitative data. Additionally, publicly available data was collected and reviewed by the means of a web search. Based on this research process the presented sCRM   scorecard outlines four key areas of sCRM performance. For each of these crucial performance areas, practitioners are provided with scorecard examples and groups of suitable metrics for evaluation.

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