The key is ROI
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I've said this for years, and I think every digital evangelist wakes up in cold sweats every night thinking about it. ROI in the digital space (SEM, social media, e-commerce, campaign sites, email marketing, etc.) is measurable, accurate and accountable. You know your digital ROI for every dollar spent, but if you're spending offline, you really have no idea what you're getting. I've seen the equations that publications use to guess their reach and it's total BS. I've also heard radio DJs exclaim that they really have no idea how many people are listening.
I can say this all day long, but I think Gary Vaynerchuk (who I met at Blog World Expo and is even more fantastic in person) does it with his unique passion, so here you go. Enjoy, and if you don't follow Gary's blog and watch his videos please make it a point to do so.
Are you moving more dollars online? Are you seeing more pressure put on magazines, newspapers, radio and TV to deliver? What are you having success in measuring for clients?
I'd love to know what you think.
Technorati Tags:
advertising, conversations, marketing, Matt Dickman, social media, Techno//Marketer, Gary Vaynerchuk
Matt,I'd enjoy your perspective on this MarketingProfs Daily Fix post, which definitely takes a different angle: http://tinyurl.com/533xgu
Posted by: Steve Woodruff | Thursday, October 09, 2008 at 05:33 AM
No doubt Matt. Gary is dead on and I'm glad to see his message spreading.
Posted by: Jim Kukral | Thursday, October 09, 2008 at 12:08 PM
I wonder. Can you really pay someone to be that passionate about your business?
Or, to flip it, . . . how do we charge to be that passionate about someone else's business?
Can we be that passionate about someone else's business?
Posted by: music. marketing. management. | Sunday, October 12, 2008 at 03:51 AM
ROI is also known as rate of profit, rate of return or return. Return can also refer to the monetary amount of gain or loss. ROI is the return on a past or current investment, or the estimated return on a future investment. Quite different perspective is explained here.
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Posted by: BizBlogged1 | Saturday, November 08, 2008 at 08:31 AM