Yesterday, I had a great chat with Paul Greenberg, Mr. Godfather of CRM and all-around nice guy, while demo’g ValueRight Social Media.
Our convo took a number of twists and turns, spanning from valuation methods that take a more traditional approach to social media like ValueRight. We also segued into the need for new metrics that will better reflect the full value of social media. The sort of metrics centered on Customer Lifetime Value (think V. Kumar).
Absolutely!
We both agreed, though, even innovative new metrics will still conversion into the classical economic results – Cash flow analysis, net present value, and ROI. These measures of business success are classics for good reason!
We’re excited to add Pathlight Solutions, Intellicore Design’s new sister company, into the companies committed to helping execs understand social business value. ValueRight Social Media is our first product and the start of a valuation family. It provides a more “traditional” foundation of social media valuation, using current metrics as the source of the forecast for cash flows for gains and costs.
Trying to value Customer Lifetime Value is going to take time to figure out because of the complexity involved. One step at a time. We’ll all get there and it will make for an exciting ride.
P.S. I’m pretty doggone excited because Paul gave us positive feedback about ValueRight – and he also gave us valuable feedback to consider for future releases. And we will because Paul knows his stuff!
P.P.S. If you ever have an opportunity to chat up with Paul, grab it. His a fount of knowledge and an overall delight to talk with.