An exploratory analysis on firms’ satisfaction about social media performance

Objectives. In the last years, firms have increased their investments in Social Media activities. However, the outcomes and the effects of such investments on corporate performance are not easy to measure. Based on these considerations, the aim on this paper is threefold: on the one hand, it intends to investigate the type of Social Media metrics most frequently used by firms; on the other, it aims to assess firms’ satisfaction about the contribution of Social Media with regard to different aspects of corporate performance, including brand reputation, customer relationships, and support to other corporate functions. Finally, it intends to explore possible correlations between the type of Social Media metrics and satisfaction about the use of Social Media. Methodology. A structured questionnaire was submitted online to a sample of Italian firms and a total of 136 useful responses were obtained. Descriptive statistics were used to explore the frequency of use of Social Media metrics and the perceived satisfaction of firms. Findings. First, the findings show that activity metrics are the most frequently used type of metrics. Even though less frequently, some firms expressed the need to use ad hoc metrics, i.e. metrics specifically designed to meet a firms’ needs. Second, the Social Media contribution to corporate performance was above firms’ expectations as regards their ability to support specific initiative or special events, customer care, brand reputation and brand awareness. Finally, some correlations emerged between the type of metrics used by firms and their level of satisfaction. For example, there is a positive correlation between activity metrics and satisfaction about the contribution of social media to brand management, while there is no significant correlation between these metrics and satisfaction about the contribution of Social Media to relationship management. Research limits. This research is based on a limited sample and further analyses should be conducted to explore possible relationships between the type of metrics used by firms and their satisfaction about Social Media performance. Practical implications. Ad hoc metrics should be used more frequently to fully measure Social Media contribution to firms’ performance. Originality of the study. This study contributes to the literature about Social Media metrics by emphasizing that firms’ satisfaction about Social Media performance varies considerably according to different aspects of corporate performance. Moreover, the study pointed out a deep gap between Social Media strategic vocation and audit.