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I was scheduled to participate in a panel on Social Media and ROI at the #sxswi conference this week. My schedule being what it is, I couldn’t be in two places at once and had to make the painful decision last week of cancelling my trip to Austin altogether. As much as I was looking forward to finally making it to Sx and being on this panel, priorities are priorities. Muchas gracias to the panel’s organizers for having invited me to participate. In spite of what I am about to say here, I am very grateful to them.

Anyway. After days of reading tweet after tweet about how wonderful and fun SxSWi was, how much of a blast everyone was having, seeing pictures of some of my favorite people meeting up and smiling big for the camera, it was with a heavy heart that I logged into Tweetdeck for the #sxsmroi session Monday afternoon, in the hopes of at least being there from a distance. My expectations:  A great discussion, a professional discussion, an intelligent discussion about ROI and Social Media. After all, it’s 2012, right? This should be a mature topic. I released the book last year, the various presentations I put together on the subject have made their way around the globe, my blog posts have been read and read again, shared, retweeted and whatnot. ROI when it comes to social media is devastatingly simple to understand. Right?

I guess not. What I found myself confronted with instead of the intelligent session I expected was… a complete disaster.  I knew we were in trouble when I started seeing eager tweets about ROI being tied to “Return on Efficiency” less than 3 minutes from its start.

Let me give you a taste of some of the brilliant “insights” retweeted from this unfortunate session:

What’s the ROI of NOT engaging in SM? 

Asking if there is ROI for Social Media is like asking if there is an ROI of the telephone or a pencil.

If social is done well it builds trust. if done really well, it is true trust. then 2-way convo: speed and reach. 

There is an answer for CFO – if social has done well, it builds trust.

Seems like the new question is “What’s the ROI on coming up with a formula for ROI?

That’s right: The same nonsense social media “gurus” were selling on their blogs and all up and down the social media “speaking circuit” back in 2008, when social media started being integrated into business models.

So… 2008 goes by.

2009 goes by.

2010 goes by.

2011 goes by.

We are now in 2012. How is it that the same bullshit is still being spewed as “insight” on a #sxswi panel on ROI? How does this happen?

I know I couldn’t be there so I bear some of the responsibility, but I have to ask: Where are the professionals? Surely, we can find 5 people for a panel on Social Media and ROI who know what the hell they are talking about, right? I don’t even mean “experts.” I mean just normal professionals with a fair fluency on the subject, who can speak intelligently about what it is, how it is calculated, and even offer concrete examples to illustrate how companies are determining the ROI of key activities and channels on a specific timeline.

Just 5 or 6 people. That’s all.

No? Too hard? Really?

What happens if I get hit by a car tomorrow? Nobody can handle this topic? I don’t buy that. Where are the professionals? Sound off. Please, for the love of puppies, raise your hands and step forward. This crap needs to stop. Now. Today. And I can’t be the one carrying this flag. (Unless by some miracle, my book finally starts making its way to every single desk in Corporate America, which would be fine too. #NotHappening)

Back to more of the session’s brilliant “insights” on ROI and Social media. Brace yourselves for the worst because it is coming:

Social doesn’t always need to be quantified. Its not a spreadsheet metric only – trust, relationships, advocacy. 

Social extends beyond traditional ROI and you can’t quantify it on a spreadsheet.

You can’t put love and trust into a chart. Why? Because love and trust defies logical reasoning.

Because we lied and told people digital was measurable.

How do you put trust and love into a spreadsheet? silence 

Measuring digital is different because we’re the first generation doing it. 

We’re getting so granular with SM and trying to label it with a quantifiable ROI, that we’re missing the overall impact of it.

You don’t measure activity, you measure results. 

The minute we standardize in #smroi, we will fail.

Innovation is miles ahead of where we are in terms of measuring ROI.

Don’t spend all of your money trying to measure social ROI.

There’s no ROI for measuring ROI – it’s just too difficult

Just because I can measure something doesn’t mean I should.

That was what was being retweeted from a #sxswi panel on ROI. Maybe it should have been called “beating around the bush of #smROI for the fourth year in a row.”

It isn’t surprising then that about twenty minutes into the session, a lot of the back-channel chatter started looking a lot like this:

Did I really just hear someone at #sxsmroi say a lot of data when trying to quantify social ROI is unnecessary? …On to another session…

This panel could benefit by examples of ROI measurement. Some people in this room probably have to report that. #SxSMROI

I am shocked that the #SocialMediaROI panel at #SXSW isn’t giving people the real “How To Measure SM ROI” they came for. #sxsmroi

Have to wonder who the #sxsmroi panel is talking to. Definitely not business owners or people who sign the checks.

I think I’m glad I’m not at #sxsmroi because it’s not a ROI panel. Maybe call it SM Value or SM Efficiency panel, but it’s not a ROI panel.

Sorry #sxsmroi panel, you can’t send people out of the room w message that social isn’t measurable. It is and it’s critical

Disappointing panel at #SXSMROI same song & dance we’ve been hearing for years.

People walking out. You really think they were going to magically tell you how to measure SM ROI? #sxsmroi

In a nutshell.

In case you think that my having been there would have made a difference, think again. I wouldn’t have endured 45 minutes of that. Though I have never walked off during a panel at any conference anywhere, be assured that I would have pulled off my mic and walked out of this one. I would much rather meet up with people outside the session and answer their ROI questions directly (my purpose for attending events like this) than endure almost an hour of complete and utter bullshit that has no place at a conference the scale of #sxswi.

No offense to the couple of pros who were on the panel and whose comments were either not retweeted at all or simply not mentioned in this post. A few solitary bits of general, elementary ROI wisdom did find their way through the barrage of bullshit, but not nearly enough and certainly not driven by either adequate vigor or accompanied by concrete examples. So understand that I am not taking a blowtorch to the entire panel but rather to the balance of its outcome.

Here’s what really disappoints me: A full complement of professionals (with or without me) shouldn’t be that difficult to come up with right?  There shouldn’t have been a single dumbass comment retweeted from this session. Not one. So I ask again: Where are the professionals?

I am appalled.

As for those of you who walked away from that panel thinking it was wonderful, that Social Media ROI is a myth, channel-optional or even elastic enough to mean Return on Engagement, Return on Efficiency or Return on Conversation, do yourselves a favor: Search for every post containing the term ROI (or R.O.I.) on this blog and start there. Once you start to get what #smROI actually is and isn’t, feel free to spend $10 or $15 on the #smROI book (link below). That’s all you need to get started. The rest will come naturally once you start applying what you’ve learned here to the real world.

*          *          *

Here it is. A whole book on how to make social media work from a business standpoint. ROI is covered, along with a lot of process elements that tie back to it. If your favorite social business “expert” doesn’t seem to get this stuff yet, don’t feel bad about sending them a copy. Knowledge is never a bad gift.

CEO-Read  –  Amazon.com  –  www.smroi.net  –  Barnes & Noble  –  Que

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nuclear-explosion

Let’s go over a few things:

1. Social Media is good for you, you know it, and you know why.

2. Social Media alone can’t save your business, but you know that your business can no longer be a market leader without an effective presence in Social Media.

3. Without resources to put behind a social media program or practice, you’re nowhere. It’s kind of like trying to drive  a car without gasoline. Sorry. It isn’t going to happen.

4. Without capital, you can’t put resources behind your Social Media program. So… you have to be able to justify that expenditure. That investment.

5. In order to be able to justify an investment in a Social Media program (from your boss, your client, your peers) you need to understand how to show the value of such a program to their organization.

6. Hits on your website, banner ad clickthroughs, impressions, KPI and whatever other types of measurement your marketing people love to throw at you are nice, they’re important, but they don’t justify a whole lot. They’re a lot like hugs: Everyone knows hugs are nice, but they don’t pay anyone’s salaries and bonuses. You have to take that game a little further.

7. The P&L is not an arcane accounting document. It is where business decisions are put to the test. Every business manager on the planet watches it daily. If you have never been responsible for one, at least get familiar with its mechanics and importance.

8. If you want to justify a budget, a program, a salary, a raise, a bonus, show your boss and your client how your idea will generate more revenue, more dividends or more cost savings. Or how it already has. That will ALWAYS get more priority than schemes to get attention or earn hugs. Money is not an abstract notion. You could get lucky and never be asked to tie your activities to financial impact, but that’s no excuse not to learn how to do it.

9. If you are not able to do this, if you cannot justify the value of a Social Media program, practice, presence or endeavor, the budget you needed to make it happen will go to something else. Like email blasts, efficiency consultants, or that new executive bathroom your boss has really been jonesing for.

10. If you cannot convince your boss or client to invest resources, time and faith in Social Media, they (and you) will get left behind by those of us who can and do. (And I assume you don’t want that.)

11. There are solid measurement and R.O.I. Best Practices and case studies being developed right now. They will pave the way for very, very VERY good things. If #10 (above) resonated with you, you probably want to learn from them so you can apply them to your business. Hence my proposal to SxSW ’10.

12. The nonsense and B.S. need to stop. They really do. For everyone’s sake.

You have a choice: You can continue to ignore the topic of Social Media measurement and R.O.I. Best Practices and pretend that talking about web conversions and the influencer index and brand lift will keep things going (which they won’t), or you can get serious about this stuff, learn how to do it right, and be a hero with every company you work for for the next ten years.

Your choice.

If you want to learn this stuff, if you want to bring this discussion to the table, please vote for my session at SxSW asap. The voting ends on Friday at midnight, so I really need you guys to act now.  Spread the word, show people my latest  R.O.I. presentation if you have to… whatever works. It’s up to you. Know that if the session doesn’t get enough votes and isn’t accepted, I am 100% fine with that… But it would be a shame: The sooner we put the R.O.I. “discussion” to rest, the sooner we establish these best practices once and for all, the sooner we can get back to doing more important work.

If you haven’t voted yet, click here now, and thanks in advance. Pass it on. 😉

(You guys rock, by the way!)

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airplane

I have one question to ask you today. Before I ask it, I want you to know that you are going to have to think really hard about the answer for 5 seconds, then click on the link to go say yay or nay.

Okay, ready?

Here we go…

Here’s the question: Do you want to see me at SxSW 2010?

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2…

3…

4…

5…

If the answer is yes, go here and vote for the proposed panel on Social Media Ménage à Trois: Making ‘happy time’ with Advertising, Marketing and PR via Social Media.

If you aren’t sure, go here and read more about it. If you vote yes and the panel is approved, expect an experience at least as memorable as the proposed panel’s title, I kid you not. Don’t put it off. You have to vote TODAY, as the deadline fast approaches.

Just know that my SxSW plans for 2010 are now in your hands.

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