One of the challenges with a qualitative process framework like the LOVE model is that it is hard quantify all the benefits, especially during the initial stages of adoption. The latest McKinsey Global Survey looks at the business benefits from Web 2.0. Operationalizing the LOVE model in practice leverages many aspects of Web 2.0, so the McKinsey data is perhaps the most relevant data we currently have for this type of approach.
Fill Your Company with LOVE (Framework)
As companies see increasing value in social media campaigns, it is becoming apparent that the transactional-centric models currently used for tracking and measuring marketing campaigns are not up to the social media challenge. With social media campaigns often focused on brand building and driving engagement, the tools used to measure the impact on sales and brand are ill-suited to accurately measuring the full impact and value of social media campaigns.
The buying or sales funnel that has served marketers well for many years no longer works in an environment now centered on two-way and unstructured communications. A new framework developed at Rubicon Consulting, Inc., building on ideas originally conceived by Harry Max, offers the relationship-centric LOVE model as a replacement–and enhancement–for the transaction-based buying funnel.
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