Comments on: Lifetime Value of a Customer and the Failing of ROI in Social Media (in current efforts) http://www.stevengroves.com/2009/11/19/lifetime-value-of-a-customer-and-the-failing-of-roi-in-social-media-in-current-efforts/ Geekin' on Tech, Food and Stuff Wed, 08 Feb 2012 09:14:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: AndyFinkle http://www.stevengroves.com/2009/11/19/lifetime-value-of-a-customer-and-the-failing-of-roi-in-social-media-in-current-efforts/comment-page-1/#comment-200 AndyFinkle Fri, 20 Nov 2009 00:48:46 +0000 http://www.stevengroves.com/2009/11/19/lifetime-value-of-a-customer-and-the-failing-of-roi-in-social-media-in-current-efforts/#comment-200 I will cautiously disagree ... I get your point (and agree) that social media will be woven into ALL media going forward - don't disagree. At the same time however SoMe will ALWAYS be it's own separate channel at the same time. I will also argue that SoMe ROI can be very easily measured. As just one example, think of a brand using a SoMe chanel PRO-Actively (not *listening* to their customer as all the SoMe pundits tell them - but actually using SoMe to sell a product (demonstrable ROI). It is not only easy, but HIGHLY recommended IMO to offer the customer something of value, that they can not get anywhere else. The pundits can say whatever they want, but what people REALLY want from a brand using SoMe is a deal! Offer them a coupon, a special, something that has monetary value that they can not get anywhere else when shopping for your brand (or considering your brand's competition). That my friend is what get's you (the brand) a highly demonstrable, and accurate ROI.<br><br>Separately, as it relates to Seth Godin's *cough* comment - This is an entirely SEPARATE and DIFFERENT use of the same SoMe channel. Best example I can think of as it relates to the 'lifetime' value of a customer is Zappos. Zappos's culture is (was?) embedded in SoMe. So much so that you could not differentiate the two. Many customers of Zappos developed a relationship with the brand as a result = customer loyalty.<br><br>Happy Steve? I wrote something :-) @A_F I will cautiously disagree … I get your point (and agree) that social media will be woven into ALL media going forward – don't disagree. At the same time however SoMe will ALWAYS be it's own separate channel at the same time. I will also argue that SoMe ROI can be very easily measured. As just one example, think of a brand using a SoMe chanel PRO-Actively (not *listening* to their customer as all the SoMe pundits tell them – but actually using SoMe to sell a product (demonstrable ROI). It is not only easy, but HIGHLY recommended IMO to offer the customer something of value, that they can not get anywhere else. The pundits can say whatever they want, but what people REALLY want from a brand using SoMe is a deal! Offer them a coupon, a special, something that has monetary value that they can not get anywhere else when shopping for your brand (or considering your brand's competition). That my friend is what get's you (the brand) a highly demonstrable, and accurate ROI.

Separately, as it relates to Seth Godin's *cough* comment – This is an entirely SEPARATE and DIFFERENT use of the same SoMe channel. Best example I can think of as it relates to the 'lifetime' value of a customer is Zappos. Zappos's culture is (was?) embedded in SoMe. So much so that you could not differentiate the two. Many customers of Zappos developed a relationship with the brand as a result = customer loyalty.

Happy Steve? I wrote something :-) @A_F

]]> By: Steven Groves http://www.stevengroves.com/2009/11/19/lifetime-value-of-a-customer-and-the-failing-of-roi-in-social-media-in-current-efforts/comment-page-1/#comment-144 Steven Groves Thu, 19 Nov 2009 20:34:52 +0000 http://www.stevengroves.com/2009/11/19/lifetime-value-of-a-customer-and-the-failing-of-roi-in-social-media-in-current-efforts/#comment-144 Andy, I'm always happy when I get to talk / reply / interact with you. The connection of the two; Seth's post and Urs, provided the spark for me to expand my thinking on the subject. Thanks for your input! Andy, I’m always happy when I get to talk / reply / interact with you.

The connection of the two; Seth’s post and Urs, provided the spark for me to expand my thinking on the subject. Thanks for your input!

]]> By: AndyFinkle http://www.stevengroves.com/2009/11/19/lifetime-value-of-a-customer-and-the-failing-of-roi-in-social-media-in-current-efforts/comment-page-1/#comment-143 AndyFinkle Thu, 19 Nov 2009 17:48:46 +0000 http://www.stevengroves.com/2009/11/19/lifetime-value-of-a-customer-and-the-failing-of-roi-in-social-media-in-current-efforts/#comment-143 I will cautiously disagree ... I get your point (and agree) that social media will be woven into ALL media going forward - don't disagree. At the same time however SoMe will ALWAYS be it's own separate channel at the same time. I will also argue that SoMe ROI can be very easily measured. As just one example, think of a brand using a SoMe chanel PRO-Actively (not *listening* to their customer as all the SoMe pundits tell them - but actually using SoMe to sell a product (demonstrable ROI). It is not only easy, but HIGHLY recommended IMO to offer the customer something of value, that they can not get anywhere else. The pundits can say whatever they want, but what people REALLY want from a brand using SoMe is a deal! Offer them a coupon, a special, something that has monetary value that they can not get anywhere else when shopping for your brand (or considering your brand's competition). That my friend is what get's you (the brand) a highly demonstrable, and accurate ROI.<br><br>Separately, as it relates to Seth Godin's *cough* comment - This is an entirely SEPARATE and DIFFERENT use of the same SoMe channel. Best example I can think of as it relates to the 'lifetime' value of a customer is Zappos. Zappos's culture is (was?) embedded in SoMe. So much so that you could not differentiate the two. Many customers of Zappos developed a relationship with the brand as a result = customer loyalty.<br><br>Happy Steve? I wrote something :-) @A_F I will cautiously disagree … I get your point (and agree) that social media will be woven into ALL media going forward – don't disagree. At the same time however SoMe will ALWAYS be it's own separate channel at the same time. I will also argue that SoMe ROI can be very easily measured. As just one example, think of a brand using a SoMe chanel PRO-Actively (not *listening* to their customer as all the SoMe pundits tell them – but actually using SoMe to sell a product (demonstrable ROI). It is not only easy, but HIGHLY recommended IMO to offer the customer something of value, that they can not get anywhere else. The pundits can say whatever they want, but what people REALLY want from a brand using SoMe is a deal! Offer them a coupon, a special, something that has monetary value that they can not get anywhere else when shopping for your brand (or considering your brand's competition). That my friend is what get's you (the brand) a highly demonstrable, and accurate ROI.

Separately, as it relates to Seth Godin's *cough* comment – This is an entirely SEPARATE and DIFFERENT use of the same SoMe channel. Best example I can think of as it relates to the 'lifetime' value of a customer is Zappos. Zappos's culture is (was?) embedded in SoMe. So much so that you could not differentiate the two. Many customers of Zappos developed a relationship with the brand as a result = customer loyalty.

Happy Steve? I wrote something :-) @A_F

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