The best intentioned entreprenurs and investor can often go awry - Steve shares an example where a $10K expense led to the departures of quite probably $250 worth of talent. Soda's are cheap, talent is expensive.
- Steven Groves
"Brian - Shel appears to be trying to measure the wrong thing, and maybe KD is as well. The outcome (measurable and otherwise) of social media can be a number of things - a conversation only being one of them. I think the people at ComcastCares show a measurable return by using social media to decrease support calls and Dell has stats suggesting they have sold something like $6M in hardware from their social media efforts - one is a cost saving, the other is lead generation, connected to sales revenue. If anyone thinks Gary Vaynerchuks company would have grown from $4M to $50M withOUT social media marketing tactics, just ask him if HE thinks so. I most often see the ROI conversation brought up as a red herring, deployed to keep an investment in place or to tear one down, depending which side of the discussion you are on. I have a much better time positioning ROI in a much more positive light, as a business person / marketer interested in helping people make a good decision on what and..."
- Steven Groves
"Next Tuesday, on the ROI of Social Media Radio, we're asking the man in the red suit how he's using social media! Tune in for holiday fun and games adn find out how Santa uses social media for his ROI - http://bit.ly/ROISanta"
- Steven Groves
Irving Wladawsky-Berger is an amazing mind and I try to read everything he does. This post in particular exposed me to more of the theory behind an the growth of a firm vs. the use of outside organizations and how cloud computing is changing the mix.
- Steven Groves
"Roy, Thanks for the comment and yes, it is that 'money phrase' that is the supporting element of the blog post title. It's what will drive the adoption this year and, with the speed of adoption, by the end of the year we'll start seeing a greater focus on a broader enterprise usage model. Anecdote are kinda' of quaint - I'll keep using them. Metrics, we'll put them up when appropriate. Again, thanks for the visit and comment!"
- Steven Groves
One of the best minds on the subject of ROI in social media and a repost of his watershed post exploring / explaining ROI (while standing on a railroad track?!)
- Steven Groves
"Gary, Great question, but I think it has to do with a) social media still being new, 2) it having the appearance of being uncontrollable [control always was an illusion though] and 3) they may have to actually have a conversation with their customers and they might be afraid of what they'll hear. I'm not sure why they'd push back - social media is MUCH more measurable than traditional media."
- Steven Groves
Steven Groves shares the article run in the December issue of SCOREBoard, the Greater Phoenix SCORE monthly newsletter. It presses the point of getting past the 'if' you need too invest to the more important questions of where to start and when to dive in.
- Steven Groves
I think Lena is off base here, at least as far as a medium to large company social media investment. A measurable ROI can be achieved and with a strategy, planning and application of tactics a company can and should monitor / measure it's results and tie those results to a revenue function.
- Steven Groves
"That was funny... Pulp Fiction is a fav cult classic for me and the use of Wave was interesting. I've been trying to figure it out too Chris and yeah, a few tips in there I saw. Thanks for sharing it."
- Steven Groves
"In no particular order, 'Gifted' people who I respect and see as particularly literate in the social media space list I would (and do) follow - Seth Godin Chris Brogan Jeremiah Owyang Lon Safko Joan Koerber-Walker Olivier Blanchard Jay Baer Jason Falls When covering real estate as an industry well suited to social media, I'd add - Jay Thompson Eric Bryant These people exhibit the kind of attitude, temperament and vision that allow me to be comfortable with what they share and trust where they might take me. I will not for a second suggest that EVERYthing they do or share is noteworthy, but as we approach a 'curated' web experience, a Web3.0, these are the ones I place my best on."
- Steven Groves
"Jay & Wes - it was a great opportunity for me to continue to learn and share on the topic, even before we really have a sense of what Web3.0 will look like or be called - I do kind of favor 'Donkey' but hey, I've been called a 'Donkey' for years - are they talking about me being stubborn, a Republican or something else? In any case, I liked the format, the audience was lively too - trying a few more before BTR get any upgrade from me though! Come listen as Guy Powell and I host together on December 8th with Jay Baer and now, we have Joan Koerber-Walker set for the 15th - more to come! Thank you again to you Jay for participating and and Wes, it was good to have you in the audience."
- Steven Groves
Rupert is exhibiting a knee-jerk reaction and the reaction is a losing proposition for New Corp. That being said, it will be interesting to see if other publishers take a similar route of indexing and allowing search only through one search engine or the other.
- Steven Groves
"....aaaaand the match is ON! Eric enters the ring and, owww, theres a serious half-nelson thrown on Tyler Hurst and he smacks Jay Thompson to the back of the head while kneeing Zane Burnett. Who's got the next hold, who's ready to enter the ring... Eric, I am really looking forward to the show on Tuesday and thanks for sowing the seed of the idea."
- Steven Groves
"Not sure I agree with the idea that the ROI number taken out of context is unusable. As you point out in the slide quoting Lord Kelvin when you can "express it in numbers, you can know something about it". Not sure it requires a context to be useful."
- Steven Groves