Build a Better Business
Join our email list

This form does not yet contain any fields.
    Search
    Powered by...
    Powered by Squarespace

    Entries in valuation (19)

    Thursday
    Sep092010

    The True value of Social Business – Free white Paper

    Focus recently released a white paper I wrote on The True Value of Social Business.  Check it out.

    It blows through various misconceptions circulating about ROI.  For example, results such as influence, engagement, impact or customer satisfaction are not values but benefits.

    Use the white paper to arm you to gain the green light on your social initiatives by discussing the value with your executive team in monetary terms. This paper will tell you what you need to know, and explain the benefits of social business including:

    • Extended influence with prospects and customers.
    • Improved branding.
    • Improved customer service.
    • Heightened customer loyalty.
    • Better insight into customers.

    The white paper is free.  Click here

    Tuesday
    Jul202010

    Social Media ROIs are excellent so get on with it

    As a consultant, I often have prospects trying to buy my services by promising me leads or “exposure.”  Those results are beneficial but they don’t put food on my table or pay my rent.  Know what does?

    Money does.

    Now take what I just said and translate that to a company.  A business can’t pay its employees with tweets.  It can’t build a new factory paid for with impressions.  That takes money.

    Are you really surprised then, when executives want a social ROI to forecast the revenue or savings potential from undertaking what could be a six- to seven-figure social investment?  They need to know how much Money Out and In to expect to run the business.

    To me, any corporate initiative should be able to stand the test of economic analysis -- and no, marketing isn't excused.

    Click to read more ...

    Friday
    Jun252010

    PR Agency Social Media ROI Calculator

    And how PR firms can benefit

    Thought you’d be interested in insights into a social media ROI methodology geared specifically towards the PR agency world.

    Check out the preso.

    Each ROI calculator is a little different, depending on the industry and company.  However, the basic elements are consistent and building the methodology is the hardest part.  I’ve done the hard thinking to help you.

    Thanks to Dr. Natalie Petouhoff for her thought leadership.  She’s the bestest!

    Monday
    May032010

    SCRM’s dirty little word is really not so dirty

    Lawrence Buchanan wrote a dandy article about the importance of understanding the dollars and sense impact of social business. 

    While he values determining the return on investment (ROI) for social business initiatives, he also expresses a preference for the Return on Customer (ROC) which is a means to determine the total customer equity.

    To me, ROC is the little brother to smROI because getting to the latter is influenced by the former.

    Click to read more ...

    Monday
    May032010

    Simplifying Social Business - How real people work

    The social business model exalts engagement and collaboration with customers, partners, and employees. 

    Strip it back and the reason why the social business model is fundamentally important is because it supports how real people relate and do real business.

    Why then are companies still confused about the social business model?  Why aren’t they rushing to implement it in their own companies?

    I’m going to explore these issues in this white paper, although I’m going to come at the discussion from a little different perspective than most other thought leaders in the social business space.

    Along the way, I’ll explore why the social business model is so important for companies today ─ and the potential impact on failing to pay attention to it.

     

    Click here to read Simplifying Social Business or you can view the slideshow format.

     

    Monday
    Feb222010

    ValueRight product family expands

    Woo hoo! We’re pleased as punched to announce we expanded the ValueRight product family.

    Our Pathlight Solutions’ social valuation tools now come in two flavors – ValueRight Social CRM and ValueRight Social Media.

     

    ValueRight benefits

    No matter which edition you select, ValueRight will determine the true dollars and sense valuation (and ROI) for your social initiatives.  Use one of the tools and you’ll provide the information executives most want to know, including:

    • Cash flow of gains and costs.
    • Net present value of gains, costs, and net results across multiple discount rates (also known as cost of capital).
    • Return on Investment.

    Click to read more ...

    Monday
    Jan252010

    5. Social business dollars and sense

    Are you trying to get your management team's buy in for your social business initiatives?  Are they asking how your company makes money with social business or at least lowers cost for customer support?

    If you want your social business initiative to stand out, then you have to talk dollars and sense.

    Now the “sense” part relates to strategy and benefits – and we discussed these in articles 2 and 3 of the eSeries.

    The dollars part though, that relates to Valuation.  And yeah, for a lot of folks economics isn't the fun, sexy part of social initiatives -- but it is necessary to get to Go (and Go means the start of success which is fun and sexy).

    In today's article, I'm demystifying Valuation. I'll take out the guess work so it's easy to get your arms around it.

     

    This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.

    Monday
    Jan252010

    4. Blast Away Social Media ROI Myths

    Are you confused about social media and its ROI? You’re not alone.

    One big reason for the confusion is because social business, of which social media is a part, abounds with ROI (a.k.a. valuation) myths.

    Today’s article focuses on getting real about social media. Get ready to blast away those show-stopping myths so you can start building a holistic and reasonable business case for your social initiative.

    Once you do, you'll be a giant step closer to gaining your management's buy-in and impressing them one more time.

    This is the 4th installment of the Business of Social Business.

     

    This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.

    Monday
    Jan252010

    3. Building blocks in a social business strategy

    In a recent article in the Business of Social Business eSeries, I wrote about the 4 Pillars of Social Business Strategy.  Today’s article builds on that strategic foundation by looking at functional considerations for your social business.

    Although a social business model can touch all aspects of your operations, and for the better, the top 3 arenas to consider are:

    • Marketing – engaging prospects and customers to extend sales.
    • Service – supporting existing customers and partners.
    • Team collaboration – with combinations of internal and external audiences.

    Let’s look at each in more detail because each will impose variations to your social strategy.  This is the 3rd installment of the Business of Social Business eSeries.

     

    (Note: Up next in the next installment, we’ll blast through social media valuation myths.  ‘Cause if you want your social business strategy to be successful, you have to get real.)

     

    This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.

    Monday
    Jan252010

    2. 4 Pillars of a Social Business Strategy

    Social business refers to a way of doing business that focuses on what Paul Greenberg calls the Creative Economy with its focus on engagement.  Being a CRM guy, Paul focuses on customer engagement but I’m confident he’d be okay with my expansion to include engagement with customers, partners, and employees.

    As Paul explains, such a strategy is…

    Designed to engage the customer (plus partners and employees) in collaborative conversations in order to provide mutually beneficial value in a trusted and transparent business environment.

    (Comment in italics is my addition).

    Strip it down and a social business model is about going back to the future and has sites located worldwide.

    First, any social business strategy you devise should be an outgrowth of your overall corporate strategy.  Even if resources require you to implement the tactical aspects of your social strategy in phases, think holistically in defining the guiding strategy.  Do this and you’ll avoid generating a siloed effect in isolated departments.

    Second social business is about much more than posting on Facebook, Twitter, or other social networks.  It’s about a business model and a mindset of how you do business and outreach through social channels is just one of the results.

     

    This article is now part of The Business of Social Business eBook, available on Pathlight Solutions, our sister site.  Click here to learn more about the eBook.