At a social media for financial services conference in San Francisco, Hearsay Social announced a new model designed to help firms grow their business through social media.
The Social Business Maturity Model is a quantitative metric companies can use to measure how well their social business programs are doing relative to peers and industry averages. In addition to figuring out where their social media programs stand, Hearsay Social says the Maturity Model provides a roadmap to accelerate the program and remain competitive, measure new social initiatives, and increase return on investment in social media.
Abhay Rajaram, Hearsay Social’s vice president of customer success, said after helping more than 100 firms integrate social media into their business, Hearsay Social identified seven areas that are critical for success. The Maturity Model measures how well a firm ranks in each area and provides a cumulative score.