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Measuring the ROI of social media? There’s a laugh, and a joke.

I got an (unsolicited) email offering a webinar to teach me about how to measure, and the importance of measuring, the ROI of social media.

TOTAL JOKE. And a bad one at that.

Social media, business social media, is running wild – with or without you. Your customers and prospective customers are posting on Facebook whether you have the balls to have presence there or not.

And I am not just talking to companies – I am talking to YOU – the individual.

CONSIDER THIS: Of all the grassroots revolutions that have occurred on social media, none of them were started by companies or a governments. They were all started by people – people who were excited, people who were afraid, people who were pissed, and people who wanted change and spoke up. They spoke over CEOs, media, newspapers, government, lobbyists, and politicians.

HERE’S WHAT THEY SHOULD MEASURE: LRI otherwise known as Lost Revenue (and goodwill and customer loyalty) of Idiots.

While Macy’s and most other department stores are/were measuring ROI, Zappos is cleaning their clock, delivering value, connectingwith and responding to customers one on one, and building a billion dollar empire in less time than it took Macy’s to expand to a second store 100 years ago.

Webinars on the subject of ROI of social media are likely run by the same people who thought Amazon.com wouldn’t make it. If Bezos measured the ROI at Amazon in the first five years, he would have quit. He accomplished domination while Barnes & Noble was measuring ROI, and Borders was going broke.

Amazon now has total market dominance based on leadership, vision, and technological excellence. Same with Apple. Microsoft used to laugh at them, now their employees all have iPads and iPods at home.

Measure? No, INVEST RESOURCES IN SOCIAL MEDIA WITHOUT MEASURING. NOW!

It’s way too soon to measure.

MAJOR POINT OF UNDERSTANDING: If they had measured the ROI of TV, or the computer, or the automobile, or the telephone, or the Internet after 5 years, NOBODY would have gotten involved, and we’d be in a technological bog – sinking.

Wake up and smell the opportunity!

People guarding nickels have no idea of the power or the value of business social media, much less social media. They have no idea of the lost opportunity, or the lost revenue. They have no idea of the perception and participation of customers.

My bet is people who measure the ROI of social media HAVE NEVER TWEETED. Wanna take that bet?

I define these people as the ones who still have a small rubber circle in the middle of their keyboard – completely out of touch with what’s new, and trying to prevent the unstoppable force of progress, and customers.

Wanna know who else ‘measured’ financial return?

  • Blockbuster measured online movie services.
  • Blackberry measured smartphones.
  • Microsoft measured music players.

Billion-dollar MIS-MEASUREMENT: Bank of America DIDN’T measure or understand the power of Facebook. They were greedily measuring increased revenue from debit card customers. Their billion dollar loss paled in comparison to their complete loss of goodwill. I doubt they will recover in a decade.

All of those companies are/were foolish.

There’s one company you want to take their time, measure nickels, rely on lawyers, and stick their big toe in the water before getting involved – that one company is your biggest competitor.

Here’s an easy plan to get rolling in a week or two:

1. Gather the email addresses of EVERYONE in your world.
2. Create a first-class, well tagged with key words, business page on Facebook, LinkedIn, and Twitter.
3. Start a YouTube channel by inviting your customers to film WHY they bought from you.
4. Map out a strategy, and goals for engagement, for Facebook, LinkedIn, Twitter, and YouTube.
5. Assign someone to monitor, post, and RESPOND to all who engage.
6. Create six value-based messages, two each for Facebook, LinkedIn, and Twitter.
7. Shoot 2-3 value-based (something your customers could use) videos and post them on YouTube.
8. Invite all of your customers to join you by sending examples of your value messages. I recommend one campaign per media for four weeks – but have links to all in each email.
9. Post something every day on Facebook. Tweet something every day. Link with 2-5 people every day. Post one video a week.
10. If you really want to create some buzz, convert your contacts to Ace of Sales (www.aceofsales.com) – and send emails that differentiate yourself from the competition.
10.5 Only listen to your lawyer if they tell you what you CAN do.

Start there.
Start now.
Start.

Reprinted with permission from Jeffrey H. Gitomer and Buy Gitomer.


About the Author

Jeffrey Gitomer is the author of The Sales Bible, Customer Satisfaction is Worthless Customer Loyalty is Priceless, The Little Red Book of Selling, The Little Red Book of Sales Answers, The Little Black Book of Connections, The Little Gold Book of YES! Attitude, The Little Green Book of Getting Your Way, The Little Platinum Book of Cha-Ching, The Little Teal Book of Trust, The Little Book of Leadership, and Social BOOM! His website, www.gitomer.com, will lead you to more information about training and seminars, or email him personally at [email protected].

Social Media Marketing and the Strategic Shift from Destination to Audience

Social media marketing has transitioned from being an ancillary marketing strategy to become a strategic business imperative. All businesses and brands need a social Web presence for a single, fundamental reason – that’s where the customers are. Brands that aren’t represented on the social Web are missing a significant opportunity that another business is more than happy to seize.


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About the Author

Susan Gunelius is a 20-year veteran of the marketing field and has authored numerous books about marketing, branding, and social media. Her marketing-related articles can be found on Entrepreneur.com, Forbes.com, MSNBC.com, FoxBusiness.com, WashingtonPost.com, BusinessWeek.com, and more. She is President & CEO of KeySplash Creative, Inc., a marketing communications company, and speaks about marketing at events around the world. To read Susan’s complete biography, click here.

StrategyDriven Podcast Special Edition 54 – An Interview with Gail Martin, author of 30 Days to Social Media Success

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Special Edition 54 – An Interview with Gail Martin, author of 30 Days to Social Media Success explores approaches to effective business marketing using social media outlets such as Twitter, LinkedIn, Facebook, and blogging; marketing that drives traffic and ultimately results in increased sales. During our discussion, Gail Martin, author of 30 Days to Social Media Success: The 30 Day Results Guide to Making the Most of Twitter, Blogging, LinkedIn, and Facebook, share with us her insights, approaches, and real-world experiences regarding:

  • what social media marketing is and several examples of this type of communication channel
  • quantifiable results businesses realize as a result of implementing an effective social media strategy
  • how social media marketing results can be quantifiably measured
  • costs associated with implementing a social media marketing strategy in terms of time and money
  • how Twitter, LinkedIn, Facebook, and blogging can be effectively used as marketing tools

Additional Information

In addition to the incredible insights Gail shares in 30 Days to Social Media Success and this special edition podcast are the resources accessible from her website, www.GailMartinMarketing.com.   Gail’s book, 30 Days to Social Media Success, can be purchased by clicking here.

Final Request…

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Thank you again for listening to the StrategyDriven Podcast!


About the Authors

Gail Martin, author of 30 Days to Social Media Success, is a marketing expert and international speaker, and the owner of DreamSpinner Communications. She is the ‘Get Results Resource’ for marketing that works; helping small and start-up businesses, consultants, coaches, authors, and solo professionals succeed through affordable publicity. To read Gail’s complete biography, click here.

“Dead”-On Business Rules: Ten Tie-Dyed and True Marketing Lessons from the Grateful Dead, part 2 of 2

Lose control of your marketing messages. A Grateful Dead concert was about having fun, meeting friends, checking out great music, escaping the everyday, belonging. Each person defined the experience a little differently, and the group defined the whole. There were interesting subgroups wandering along as part of the larger odyssey that was the Grateful Dead experience.

In building a community, the Grateful Dead were willing to give up a large degree of control over how they were defined and instead hand it to their fans. While this approach is highly unusual, it is also often very successful. When organizations insist on operating in a command-and-control environment with mission statements, boilerplate descriptions, messaging processes, and PR campaigns, their strategies can both hamper growth and backfire in execution.

Let your community define you, rather than trying to dictate what’s said – and how – about your company. When you let others define and talk about you, it is more likely that a community will develop.


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About the Authors

Since his first Grateful Dead show when he was a teenager in 1979, David Meerman Scott has seen the band perform over 40 times. David is a marketing strategist and a professional speaker. He is the author of the BusinessWeek bestselling book The New Rules of Marketing & PR and several other books. He speaks at conferences and corporate events around the world. He loves to surf (but isn’t very good at it), collects artifacts from the Apollo moon program, and maintains a database, with 308 entries at this writing, of every band he has seen in concert. He is a graduate of Kenyon College, where he listened to a heck of a lot of Grateful Dead in his dorm room.

Brian Halligan has seen the Grateful Dead perform more than 100 times. He is CEO & founder of HubSpot, a marketing software company that helps businesses transform the way they market products by “getting found” on the Internet. Brian is also coauthor of Inbound Marketing: Get Found Using Google, Social Media, and Blogs and is an Entrepreneur-In-Residence at MIT. In his spare time, he sits on a few boards of directors, follows his beloved Red Sox, goes to the gym, and is learning to play guitar.

“Dead”-On Business Rules: Ten Tie-Dyed and True Marketing Lessons from the Grateful Dead, part 1 of 2

Viral marketing and social networking have arrived on the scene after a long, strange trip indeed. The Grateful Dead were much more than a bunch of rock-and-roll geniuses; they were pioneers of the digital age marketing landscape.

When you think marketing visionaries, what companies come to mind? Apple? Google? Maybe even Microsoft? It’s true that each of these companies in one way or another has come to define marketing in the digital age. But the practices they’ve been pushing – viral marketing, social networking, giving away products or services, asking for and acting on input from customers – have somewhat, well, groovier roots than you might imagine.

These marketing ploys were born on the road with one of the most iconic bands of all time – The Grateful Dead.

Everyone knows the Grateful Dead as rock legends and amazing musicians. But not as many realize they were marketing pioneers. In the 1960s the Grateful Dead pioneered many social media and inbound marketing concepts that businesses across all industries use today. Every business can learn from what the Grateful Dead has done over a 45-year career.

The Grateful Dead is one huge case study in contrarian marketing. Most of the band’s many marketing innovations were based on doing the exact opposite of what other bands (and record labels) were doing at the time. The Dead pioneered a “freemium” business model, allowing concert attendees to record and trade concert tapes, building a powerful word-of-mouth fan network powered by free music. It’s a model that has influenced many of today’s very best marketers. For example:


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About the Authors

Since his first Grateful Dead show when he was a teenager in 1979, David Meerman Scott has seen the band perform over 40 times. David is a marketing strategist and a professional speaker. He is the author of the BusinessWeek bestselling book The New Rules of Marketing & PR and several other books. He speaks at conferences and corporate events around the world. He loves to surf (but isn’t very good at it), collects artifacts from the Apollo moon program, and maintains a database, with 308 entries at this writing, of every band he has seen in concert. He is a graduate of Kenyon College, where he listened to a heck of a lot of Grateful Dead in his dorm room.

Brian Halligan has seen the Grateful Dead perform more than 100 times. He is CEO & founder of HubSpot, a marketing software company that helps businesses transform the way they market products by “getting found” on the Internet. Brian is also coauthor of Inbound Marketing: Get Found Using Google, Social Media, and Blogs and is an Entrepreneur-In-Residence at MIT. In his spare time, he sits on a few boards of directors, follows his beloved Red Sox, goes to the gym, and is learning to play guitar.