Browsing Tag

Social Media

It’s official! I suck

That’s right – honesty is the best policy. So in full disclose this is Just a traffic update, yesterday was the worst traffic this blog has had since I’ve been paying attention! (Nov. 07). That’s right, celebrate the little things, because it appears y’all are transitioning to rss readers. Thanks team!

Maybe it is that no one is searching of relevant terms for what I’m writing about, so let’s highlight the top 10 search items, since we have analytics.

  1. bob’s ichthyosaur – A Great book and apparently the top search term.
  2. what is scientific management – High school students everywhere are googling.
  3. twing – Very cool, cool people
  4. mbifm – A made up acronynm, which apparently means Member of the British Institute of Facilities Management.
  5. calculating gross margin
  6. danielle pribbernow – Chick on the Check out blog, wonder if it’s just her searching on herself? Way too much traffic for a Wal-Mart employee. No I mean WAY TOO MUCH.
  7. dijouri – I made up this name for my second son, 12 years old. I think this IS my son searching on himself or people trying to figure out if I made up his name or people looking for movie made in 2003.
  8. things i am thankful – This is encouraging.
  9. afro – Right on.
  10. giggly quotes – Who searches on giggly quotes?

So if you don’t find anything interesting above interesting, perhaps one of the top 10 “trafficked” pieces, mainly produced via keywords – which you will notice via the relationships between keywords above and titles below. That being said,I REALLY am partial to the Stuck in the Middle series — and — I like the Mosaic piece the most, mainly because it plays well in my head. Yup, I’ve sucked you into a replay post, but a replay of posts everyone else seemed to like too, or at least this is 10 most visited posts here.

  1. Lessons Learned: What is scientific management
  2. 100 Things I am thankful for… – A thanksgiving post
  3. Spatially Relative: A community’s place… – A piece about a book I read
  4. About – Self-explanatory
  5. 5 Ways YOU can launch a Twitter stream remediation program – geeky thing I wrote and scoble called it geeky, that scoble effect is a real thing.
  6. Lessons Learned: How to calculate Gross Margin
  7. 10 Themes and concepts for YOU to blog on
  8. 10 Tips for dealing with the fact that you will never leave your Job
  9. WANTED: Social Media Antagonist
  10. The Death of Marketing? Mix it up.

Hopefully the new folks that have added me to your reader find some of these interesting. Cheers!

April 16, 2008 by
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Maybe Metrics – The impact of WOMM

Satmetrix has some interesting research, as noted in the release excerpt:

Applying this framework to the computer hardware industry, Nowinski and his team discovered that each Promoter was worth approximately $2,634. Promoters spend $203 more than the industry average of $1,615 and account for roughly one-half of a new customer acquired through positive word-of-mouth. In comparison, each Detractor can cost a business 0.84 percent of a new customer through negative word-of-mouth. The lost business associated with their negative referrals subtracts nearly the entire value of their purchase behavior, leaving a total customer worth for Detractors of just over $100, accounting for $2,500 less than Promoters.

Church of the Customer furthers:

The study examined customers in the computer hardware industry and found, using the Net Promoter methodology, that “promoters” would spend about $1,818 of their own money and refer an additional $816 of revenue from friends and associates.

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“While Detractors spend lags the average customer by only $158, their negative word-of-mouth behavior represents a significant hidden cost and net drain on future revenue,” said Nowinski.

Interesting stuff, wonder what the general CPG impact is?

April 13, 2008 by
(1)

Influence Networks?

A little too much time on my hands and just a little bit of data, armed with just that I went to thinking. I was able to get a front row seat for influence in action yesterday by random happenstance and journaled it. Networks are interesting things, Andrew Baron is selling his twitter account. Could be a new market and what is the value?

What is the value of a social network? Depends on the influence, Andrew’s account is currently >$1000. Wonder what Scoble’s would be worth?

April 13, 2008 by
(4)

5 Incomplete Thoughts on Social Media

Remember the title….

1. Manufactured Market?

There is so much noise about the market opportunity and the necessity to fund community initiatives for enterprises but little has materialize in respect to direct revenue and meaningful metrics. This is a challenge for traditional marketers on many levels and the type of topics I suspect are being at the Forrester Marketing conference. There is a after the show workshop that asserts the following which might be close to revenue:

Experiments with rich media, blogging, RSS, and social networks show how dynamic marketing techniques can touch on buyers’ emotions, educate and persuade them, measure interactions more effectively, and generate additional business.

2. Perpetual Social Markets

Shel’s interviews of Jeremiah Owang and the Sea World folks are both emblematic of the challenges of linking social media investments to a return. How can you effectively measure and manage social media as a growth engine? Examples exist where a specific event or a series of inferences can be leveraged to assume the impact of social media, as evidenced in the description of Sea World video at Fast Company:

Measuring social media is one of the pain spots for the enterprise. As Kami Huyse, says in this clip of her client SeaWorld San Antonio. “It all depends on what you measure.” …

What to measure indeed – hits, downloads….. Ultimately most businesses measure revenue from Marketers, so perhaps Sea World is an anomaly and most businesses know how to convert the social media marketing budget to revenue and understand how to successfully deploy/develop a community. Let’s see if this is the case from Shel’s interview of Jeremiah, you probably only need to listen for say, the whole thing:

3. Social Media as Infrastructure

With the metric challenges and elusiveness of revenue is social media a function of retention more so than demand? If marketers are unable to deliver/verify incremental new revenues base on investment, should the metric hunt move to revenue retention and customer satisfaction?

Cool technology should never be relegated to the “post-transactional” budget fight…..

4. Platforms as Markets

Is Twitter a market? Facebook? Myspace? With increasing platforms for exchange more and more opportunity appears to emerge as populations flock to platforms. Where people gather transactions happen right? There are many example of this in the physical space – Burning Man, dead shows and in the parking lots of panic shows. So if people are gathering, there has to be transactions to be had – right?

Information as currency and messaging as a service continues to be the key commodities being exchanged on social media platforms….

5. Community as a Commoditizer

The transactional efficiencies of social computing by it’s very nature puts downward cost pressure on goods. Ease of comparison, ease of purchase and ease of access to other consumers/product customers. Ease of discovery. Product differentiation through a cost center represents…

Maybe the title should have been 5 Incoherent Thoughts…

~cheers!

April 11, 2008 by
(1)