What Is Social Capital?
Social Capital is an important metric to measure these days, but as a business, the question you should be asking is “What is my social capital in my niche.”MarketMeSuite has teamed up with PeerIndex to bring an integration to our community of users, allowing users to track their score and the score of everyone they follow in the dashboard.
Why Is Targeted Social Capital Important?
Now, for example, imagine you were a hair dresser in your local town. To be successful in that business you need to engage with your audience very specifically and show yourself to be aware of all things related to the hair dressing industry. You would need to tweet about your salon, your location, the latest trends and fashions, you would even tweet about your competitive prices. PeerIndex would take these updates and apply their unique algorithms to them to supply you with your online statistics and data. It shows you how well you are doing under the topics such as, “Authority”, “Activity” and “Audience”. It even shows your statistics in comparison with other similar accounts so you can see how they differ from you. Most importantly, you can see how they compete with your business! If you have a small but relevant topic, PeerIndex helps you establish how influential you are in just that area, regardless of how small and particular it is.
This is a great way of seeing your strengths and weaknesses when it comes to online marketing. With a clear structure laid out for you, you can adjust your marketing to make it most effective for you and understand the changes you may have to make to your online market campaign.
It’s useful to think of the old philosophy, “an inch wide but a mile deep” when it comes to your business, knowledge and expertise. The smaller your niche area, the smaller your target audience, but that does not mean it’s any less important. You can be at the top of your game by achieving high authority ratings in that area. You may never have an overall score as high as Ashton Kutcher’s but you can achieve a very high authority in your desired topics, and that’s what counts. Kutcher may tweet a lot but he sure doesn’t know as much as you do! This is what shows the public and other people that you are professional, reliable and that you know your stuff!
By showing the PeerIndex score next to each profile picture in MarketMeSuite, all users can continually track their influence on a daily and even hourly basis. And by engaging with clients and leads in their niche, a user can watch the actions they perform in MarketMeSuite increase their social capital, and have this key metric handy when deciding who is a top priority for engaging.
About the Author
Tammy Kahn Fennell is CEO and Co-founder of MarketMeSuite. MarketMeSuite is a Social Media Marketing Dashboard and has thousands of users and a fast-growing global customer base of businesses and consultants.