Teaching his grandma about social media – she recognized Twitter via CNN.
ROI from Social Media: – Quarterly or Annual return on investment – but it typically is somewhat simplistic and misleading. It may not account for brand loyalty or external factors like economic downturns.
May be time to consider customers, brand, and external factors.
Coke has had billboard in Times Square since 1932- not exactly a standard ROI measure
ROBI – Return on Brand Investment – in theory measures all external touchpoints for brands, not just $ spend.
Uses aggregate consumer response, takes into account brand loyalty, external factors and residual value.
ROCI – return on Customer Investment – Would allow marketers to identify returns, attitudinal responses, and data about who provided feedback, using power of internet , to be a better predictor of our future actions.
WIth growth of semantic web, it will become more of a reality.
How to do this more in real life: Really great blog post by Louis Green, L&G Business Solutions – comparing ROI to Value – his idea of value is ROBI and ROCI .
(Can’t find the exact post – Ben, please comment on this.) Update: Don’t Say ROI Unless you mean it is the article. Thanks Ben!
Figure out who in your organization can execute your strategy on a day-to-day basis. Very critical to get the right person.
Q: how do you help clients figure out appropriate metrics?
a: Really emphasize the education section – make sure client knows about all the idea available and what works best for client’s business results.
Dean Landsman: Notes Ben is: Gen Y Digital Native – GYDN – offer GYDNce (guidance.)
Return on Influence (vs return on indifference?) – Return on Impact