Comments on: The FINAL word on Social Media ROI http://shuaism.com/2009/10/the-final-word-on-social-media-roi/ Social media, Internet marketing, Life Online | Shuaism Fri, 12 Mar 2010 17:47:26 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Josh Peters http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-544 Josh Peters Mon, 25 Jan 2010 22:25:18 +0000 http://shuaism.com/?p=732#comment-544 "It's important to remember nothing in Social Media is one size fits all and that's how we should be viewing it."<br><br>I think that sums it up pretty well. Thanks for the comment! “It's important to remember nothing in Social Media is one size fits all and that's how we should be viewing it.”

I think that sums it up pretty well. Thanks for the comment!

]]> By: justinhillier http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-543 justinhillier Mon, 25 Jan 2010 04:15:08 +0000 http://shuaism.com/?p=732#comment-543 Great post and certainly a topic of hot debate. I come from the field of using Social Media as a recruitment tool and the ROI debate is hot. We have our different views as to its importance and I have wriiten about this here, <a href="http://bit.ly/7VZBSm" rel="nofollow">http://bit.ly/7VZBSm</a><br><br>It's important to remember nothing in Social Media is one size fits all and that's how we should be viewing it. Great post and certainly a topic of hot debate. I come from the field of using Social Media as a recruitment tool and the ROI debate is hot. We have our different views as to its importance and I have wriiten about this here, http://bit.ly/7VZBSm

It's important to remember nothing in Social Media is one size fits all and that's how we should be viewing it.

]]> By: Josh Peters http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-486 Josh Peters Fri, 08 Jan 2010 03:45:04 +0000 http://shuaism.com/?p=732#comment-486 It's hard to do because you don't always know exactly where someone heard of your product from.<br><br>Lets say someone heard about your product on Twitter. They liked it, bought it, and then told a friend about it and the friend bought it. It's a direct result of your social media efforts, however you wouldn't know unless they told you directly.<br><br>Also most sales cycles are longer than just a week so your method wouldn't work and would result in very skewed numbers. The best way to do it is to compare it to previous months where you didn't use it. Once again the difference is the difference is the methods and tools used to get the sales. Just like with any other tool or method. I don't know why you find that so hard to accept.<br><br>Awareness is awareness no matter how you get it. You don't know that someone saw your billboard and then decided to come to your site later and buy something unless you ask. You don't know if someone saw your facebook fan page and then bookmarked your website to come back to later. You don't know for sure unless you have your analytics setup and they came through one of your trackable links, outposts, or portals.<br><br>I'm sorry YOU think it's fluffy nonsense, but it's very sound thinking and is showing that social media is no different than any other tool or method one might use to market their products when it comes down to measurement. It's hard to do because you don't always know exactly where someone heard of your product from.

Lets say someone heard about your product on Twitter. They liked it, bought it, and then told a friend about it and the friend bought it. It's a direct result of your social media efforts, however you wouldn't know unless they told you directly.

Also most sales cycles are longer than just a week so your method wouldn't work and would result in very skewed numbers. The best way to do it is to compare it to previous months where you didn't use it. Once again the difference is the difference is the methods and tools used to get the sales. Just like with any other tool or method. I don't know why you find that so hard to accept.

Awareness is awareness no matter how you get it. You don't know that someone saw your billboard and then decided to come to your site later and buy something unless you ask. You don't know if someone saw your facebook fan page and then bookmarked your website to come back to later. You don't know for sure unless you have your analytics setup and they came through one of your trackable links, outposts, or portals.

I'm sorry YOU think it's fluffy nonsense, but it's very sound thinking and is showing that social media is no different than any other tool or method one might use to market their products when it comes down to measurement.

]]> By: Josh Peters http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-484 Josh Peters Fri, 08 Jan 2010 03:34:33 +0000 http://shuaism.com/?p=732#comment-484 Thank you for your comments, but first off Awareness is not an attribute of a customer in the way I was talking about it. I was talking about the type of campaign, which every company in the world runs to help people even know the existence of their products. Yes for a customer to make a purchase they have to know about your product, but no they do not have to be loyal. They may only but once from you to fill a specific need.<br><br>Lead Generation is also a used most forms of marketing and the setup is the same for calculating if it's working or not. The difference is the medium that is used. PPC, email, direct mail, social media, etc.<br><br>I don't know how it doesn't make sense, the financial based components of social media campaigns are valuated by ROI, the non financial components are measured using impact... it's pretty cut and dry. Thank you for your comments, but first off Awareness is not an attribute of a customer in the way I was talking about it. I was talking about the type of campaign, which every company in the world runs to help people even know the existence of their products. Yes for a customer to make a purchase they have to know about your product, but no they do not have to be loyal. They may only but once from you to fill a specific need.

Lead Generation is also a used most forms of marketing and the setup is the same for calculating if it's working or not. The difference is the medium that is used. PPC, email, direct mail, social media, etc.

I don't know how it doesn't make sense, the financial based components of social media campaigns are valuated by ROI, the non financial components are measured using impact… it's pretty cut and dry.

]]> By: Ghost http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-485 Ghost Fri, 08 Jan 2010 00:43:08 +0000 http://shuaism.com/?p=732#comment-485 You wrote: "It is true that the ultimate goal always comes down to $$$, because without it the company won't survive. The problem is that even in social media directly associating an increase in purchases with an awareness campaign is hard to do."<br><br>Why is this so hard to do? You measure sales without promoting on "social media" every other week, then you measure sales with "social media" every other week. Then compare the difference and value of the results.<br><br>My guess is that there is no difference, which explains your fluffy nonsense. You wrote: “It is true that the ultimate goal always comes down to $$$, because without it the company won't survive. The problem is that even in social media directly associating an increase in purchases with an awareness campaign is hard to do.”

Why is this so hard to do? You measure sales without promoting on “social media” every other week, then you measure sales with “social media” every other week. Then compare the difference and value of the results.

My guess is that there is no difference, which explains your fluffy nonsense.

]]> By: Ghost http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-483 Ghost Fri, 08 Jan 2010 00:36:18 +0000 http://shuaism.com/?p=732#comment-483 Your article makes no sense. ROI is a description of a result. A result of how many people paid for your product or service vs. how much money you spent to generate those payments. It's merely a Time Value Of Money calculation based on the Present Value of future cash flows. Twitter doesn't generate paying customers or cash flow, hence, there's no ROI. Duh. Yet, you speak about "Awareness, Loyalty, etc." Those are merely attributes of customers that PAY. Your article makes no sense. ROI is a description of a result. A result of how many people paid for your product or service vs. how much money you spent to generate those payments. It's merely a Time Value Of Money calculation based on the Present Value of future cash flows. Twitter doesn't generate paying customers or cash flow, hence, there's no ROI. Duh. Yet, you speak about “Awareness, Loyalty, etc.” Those are merely attributes of customers that PAY.

]]> By: Josh Peters http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-481 Josh Peters Thu, 07 Jan 2010 20:45:04 +0000 http://shuaism.com/?p=732#comment-481 It's hard to do because you don't always know exactly where someone heard of your product from.<br><br>Lets say someone heard about your product on Twitter. They liked it, bought it, and then told a friend about it and the friend bought it. It's a direct result of your social media efforts, however you wouldn't know unless they told you directly.<br><br>Also most sales cycles are longer than just a week so your method wouldn't work and would result in very skewed numbers. The best way to do it is to compare it to previous months where you didn't use it. Once again the difference is the difference is the methods and tools used to get the sales. Just like with any other tool or method. I don't know why you find that so hard to accept.<br><br>Awareness is awareness no matter how you get it. You don't know that someone saw your billboard and then decided to come to your site later and buy something unless you ask. You don't know if someone saw your facebook fan page and then bookmarked your website to come back to later. You don't know for sure unless you have your analytics setup and they came through one of your trackable links, outposts, or portals.<br><br>I'm sorry YOU think it's fluffy nonsense, but it's very sound thinking and is showing that social media is no different than any other tool or method one might use to market their products when it comes down to measurement. It's hard to do because you don't always know exactly where someone heard of your product from.

Lets say someone heard about your product on Twitter. They liked it, bought it, and then told a friend about it and the friend bought it. It's a direct result of your social media efforts, however you wouldn't know unless they told you directly.

Also most sales cycles are longer than just a week so your method wouldn't work and would result in very skewed numbers. The best way to do it is to compare it to previous months where you didn't use it. Once again the difference is the difference is the methods and tools used to get the sales. Just like with any other tool or method. I don't know why you find that so hard to accept.

Awareness is awareness no matter how you get it. You don't know that someone saw your billboard and then decided to come to your site later and buy something unless you ask. You don't know if someone saw your facebook fan page and then bookmarked your website to come back to later. You don't know for sure unless you have your analytics setup and they came through one of your trackable links, outposts, or portals.

I'm sorry YOU think it's fluffy nonsense, but it's very sound thinking and is showing that social media is no different than any other tool or method one might use to market their products when it comes down to measurement.

]]> By: Josh Peters http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-479 Josh Peters Thu, 07 Jan 2010 20:34:33 +0000 http://shuaism.com/?p=732#comment-479 Thank you for your comments, but first off Awareness is not an attribute of a customer in the way I was talking about it. I was talking about the type of campaign, which every company in the world runs to help people even know the existence of their products. Yes for a customer to make a purchase they have to know about your product, but no they do not have to be loyal. They may only but once from you to fill a specific need.<br><br>Lead Generation is also a used most forms of marketing and the setup is the same for calculating if it's working or not. The difference is the medium that is used. PPC, email, direct mail, social media, etc.<br><br>I don't know how it doesn't make sense, the financial based components of social media campaigns are valuated by ROI, the non financial components are measured using impact... it's pretty cut and dry. Thank you for your comments, but first off Awareness is not an attribute of a customer in the way I was talking about it. I was talking about the type of campaign, which every company in the world runs to help people even know the existence of their products. Yes for a customer to make a purchase they have to know about your product, but no they do not have to be loyal. They may only but once from you to fill a specific need.

Lead Generation is also a used most forms of marketing and the setup is the same for calculating if it's working or not. The difference is the medium that is used. PPC, email, direct mail, social media, etc.

I don't know how it doesn't make sense, the financial based components of social media campaigns are valuated by ROI, the non financial components are measured using impact… it's pretty cut and dry.

]]> By: Ghost http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-477 Ghost Thu, 07 Jan 2010 17:43:08 +0000 http://shuaism.com/?p=732#comment-477 You wrote: "It is true that the ultimate goal always comes down to $$$, because without it the company won't survive. The problem is that even in social media directly associating an increase in purchases with an awareness campaign is hard to do."<br><br>Why is this so hard to do? You measure sales without promoting on "social media" every other week, then you measure sales with "social media" every other week. Then compare the difference and value of the results.<br><br>My guess is that there is no difference, which explains your fluffy nonsense. You wrote: “It is true that the ultimate goal always comes down to $$$, because without it the company won't survive. The problem is that even in social media directly associating an increase in purchases with an awareness campaign is hard to do.”

Why is this so hard to do? You measure sales without promoting on “social media” every other week, then you measure sales with “social media” every other week. Then compare the difference and value of the results.

My guess is that there is no difference, which explains your fluffy nonsense.

]]> By: Ghost http://shuaism.com/2009/10/the-final-word-on-social-media-roi/comment-page-1/#comment-476 Ghost Thu, 07 Jan 2010 17:36:18 +0000 http://shuaism.com/?p=732#comment-476 Your article makes no sense. ROI is a description of a result. A result of how many people paid for your product or service vs. how much money you spent to generate those payments. It's merely a Time Value Of Money calculation based on the Present Value of future cash flows. Twitter doesn't generate paying customers or cash flow, hence, there's no ROI. Duh. Yet, you speak about "Awareness, Loyalty, etc." Those are merely attributes of customers that PAY. Your article makes no sense. ROI is a description of a result. A result of how many people paid for your product or service vs. how much money you spent to generate those payments. It's merely a Time Value Of Money calculation based on the Present Value of future cash flows. Twitter doesn't generate paying customers or cash flow, hence, there's no ROI. Duh. Yet, you speak about “Awareness, Loyalty, etc.” Those are merely attributes of customers that PAY.

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