Posted tagged ‘Yahoo’

Quantifying Social Media

July 28, 2012

Everyday more companies and more consumers are joining the social media fray.  What does the increased noise level mean? Can you actually measure whether the investment has any impact on results?

Extent of Company Social Media Today

In June 2012 a two-day conference was held in New York City to share and discuss the State of Social Media. The conference served as a forum to discuss the results of data produced by a survey conducted by Useful Social Media from 650 participating corporations.

71% of the survey respondents said that they were responsible for developing and executing the company social media activity using a team of between 2 and 4 team staff members on a part-time basis.

Not surprisingly, 90% of respondents use Facebook for their company and 89% have a Twitter presence. These two are the unrivalled leaders for companies – and an incredible proportion of

businesses have taken the plunge and set up accounts on these two sites. YouTube and LinkedIn were also popular with 75% acknowledging regular participation. Also, 49% disclosed that they have created and promote their own blog.

Measuring Return On Investment in Social Media

Less than a third of respondents feel that they are accurately measuring the impact of their social media activity, and only 40% of respondents say they measure social media ROI (with only 23% confident they’re getting this measurement correct). Early measurement shows:

1. Activity/Engagement 14%

2. Conversion to leads or sales of those engaged 6 to 7%

3. Development of recommendations or customer testimonials from evangelists 2%

What is Next in Social Media?

The most popular replies from survey respondents about what to expect next year are:

1. 200% more companies will use social media to develop better products

2. A third more companies will offer customer service delivery through social media

3. 95% more companies expect to use social media for market research in determining future offerings.

What would participants like to be able to measure in the future? The answer is activity, growth in followers, increase in web traffic, translation to leads, and conversion to sales.

 

You can download a free copy of the full survey report @ www.usefulsocialmedia.com

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Top Five Small Company Sales Shortcomings and How to Fix Them

June 9, 2012

The more opportunities I have had to provide freelance help to small owner-operated businesses, the more I recognize the differences in their approach and the similarities in their sales and marketing shortcomings.

1. Disappointing and inconsistent sales performance

*invest more time to manage and participate in your sales effort

*improve the consistency of your sales effort with a modestly priced CRM program like  SalesForce, Eloqua, or NetSuite to formalize your calling, emails, sales calls, tracking and reporting no matter how small your sales staff.

*Change your sales compensation to include commission based incentive.

*Eliminate sales staff members who have nor performed over a twelve month period.

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Ninety Percent of All Data Created in the Last Two Years!

June 2, 2012

An IBM web page describes the company’s big data offerings by stating that 2.5 quintillion bytes of data are created daily now and as a result 90% of the data in the world has been created in the last two years.

 I never claimed to be a math major but if I understand the data progression correctly, it goes something like this:

1 Byte is made up of 8 bits

1 Kilobyte           KB          103          (or 1,000 bytes)

1 Megabyte        MB         106

1 Gigabyte           GB          109

1 Terabyte           TB           1012

1 Petabyte           PB           1015

1 Exabyte            EB           1018

 One Exabyte is equal to one quintillion bytes. To put this staggering amount of storage in some perspective, the world’s technological capacity to store information grew from 2.6 exabytes in 1986 to 15.8 in 1993, over 54.5 in 2000, and to 295 exabytes in 2007. This is equivalent to less than one 730-MB CD-ROM per person in 1986 (539 MB per person), roughly 4 CD-ROM per person in 1993, 12 CD-ROM per person in the year 2000, and almost 61 CD-ROM per person in 2007.

 Another way to begin to grasp the explosion is to realize that we are creating data at a daily rate of all the data that existed in 1986.

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Why Unpaid Internships Should Be Banned

May 29, 2012

A recent post on Craigslist read:

“Film company has one opening for an editor. Must be creative, dependable, and have personality. Great opportunity for college student or graduate. This is an INTERNSHIP, please do not ask for or expect compensation.”

 In 2012 there appear to be three types of internship options for companies and college students:

internships for no compensation, internships for college credit in lieu of pay and Internships that provide modest compensation.

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Is This the End of the Movie Theater?

May 26, 2012

On Monday, May 20, 2012 a Chinese conglomerate announced it will buy major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China’s biggest takeover of an American company to date. Dalian Wanda Group Co.’s purchase will create the world’s biggest movie theater operator. The Beijing-based company said it will invest an additional $500 million to fund AMC’s development. AMC operates 346 cinemas, mostly in the United States and Canada, and says it has 23 of the 50 highest-grossing U.S. outlets.

 “We support AMC becoming bigger, not only in the United States but in the global market,” said Wanda chairman Wang Jianlin at a signing ceremony for the acquisition. Wanda said AMC’s American management will remain in place and the headquarters will stay in the Kansas City area. It said staff numbers were not expected to be affected. The company employs some 18,500 people. AMC has reported losses for the past three years.

Back in 1959, Mary Pickford, who was a Hollywood star and also cofounded studio giant United Artists and the Academy of Motion Picture Arts and Science), claimed that cable TV would kill theaters. Then, of course, Jack Valenti famously said the VCR would be the “Boston strangler” to the movie business.

Yet, now, with home theaters, video on demand, streaming services and infringement, the theaters are once again insisting that this time theaters are really in trouble.

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So You Want To Open a Restaurant

May 16, 2012

How many times have you heard a family member or friend tell you they secretly wanted to own their own restaurant?

It may seem glamorous to those on the outside, but those in the know realize that it’s not. You will require an all-consuming passion for the restaurant and the patience of a saint. You will be open six or seven days a week. You will definitely start earlier than you thought and have later nights than you bargained for. It is relentless day in and day out with no sign of a break.

The strongest advice I can give is to work in a restaurant before you buy one. The most successful owners have waited tables, tended bar, worked in the kitchen and managed front of house and operations before investing.

Chances of Success

Restaurants fail at a 57 to 61 percent rate with the highest failure rate of 26 percent during the first year, 19 percent in year 2 and 14 percent in the third year. According to H.G Parsa, author of a study on restaurant failures and associate professor of hospitality management at Ohio State many restaurants close not because they couldn’t succeed financially, but because of personal reasons involving the owner(s) such as divorce, poor health or simply a desire to retire. “The successful owners were either very good at balancing their family and work lives or single or divorced.” (more…)

10 Important Things I Learned From Yogi Berra

May 14, 2012

To celebrate his 87th birthday, I thought I would share 10 important things I learned from New York Yankee catcher and manager, Yogi Berra.

1.  Reciprocity:  “Always go to other people’s funerals; otherwise they won’t go to yours.”

2.  Forward progress:“When you come to a fork in the road, take it.”

3.  On observation: “You can observe a lot by watching.”

4.  Miscalculation: “Ninety percent of the time the game is half mental.”

5.  Telling it like it is: “If you ask me a question I don’t know, I’m not going to answer.”

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