Friday, January 29, 2010

Social Media ROI

Lots of buzz about how measurable internet marketing is. Why then is the return still so low compared to traditional direct? I finally found the hard data this morning. Over 50% of MarCom budgets are spent on Direct. Mail STILL enjoys the best ROI. Email is dismal in comparison. The only channels with a lower ROI than email, are mobile and social media.

I suspect the reason is that most businesses trying new channels - because they are so cheap, quick and dirty - are doing a terrible job at it.

They are shouting rather than listening, hawking rather than offering. Companies using Twitter, Facebook and Email campaigns need to take a page from companies doing it right: Zappos, Amazon, IKEA, etc. You don't need their budgets; you need their smarts.

Coincidentally, I received Godin's new book via FedEx today; Linchpin may provide some of the answers.

If you have questions about your company's efforts, post them here. I'll be launching a marketing troubleshooter blog on this space over Reading Week in March. Stay tuned....

Sunday, January 3, 2010

Big Thinkers...

Those who know me know I am a big fan of Seth Godin. Much more than a marketing guru, Seth understands how the internet has changed the world for all of us, and most particularly how it has changed the way we work. He is thoughtful, creative and full of disarming insights.

His new books is available as a free download (.pdf ebook). In it he promises, "Here are more than 70 big thinkers, each sharing an idea for you to think about as we head into the new year." And I am doing my part by sharing it here. Now it's your turn. Check it out, then share the link on YOUR blog, or on Twitter, or Facebook, or just tell a friend. His goal is to get the free book into the hands of 5million people. I bet he will do it.

Free ebook:

Wondering if I should encourage all my students to download and discuss.....

If you don't like to read, listen to the CBC podcast:
Seth talking to Nora on Spark: (Click on "This Week's Show" unless, of course, it's not this week anymore, if you know what I mean in a 'time warp' sort of way...)

I'd love to hear what you think about his newest creation.

Here's to new year's contemplation....