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29Dec/100

Tim Ferriss: stop wasting money on vanity metrics

“Listening” isn’t enough. Tracking the number of Twitter mentions tells you nothing. The bigger question is: What are we trying to build or accomplish, and how will we digest and use this data?
His Social Media Marketing Predictions:
  1. YouTube Beats Yahoo — Video Will Convert
  2. The Full Resurrection of E-mail: e-mail addresses are a safer long-term investment than social media features
  3. Large Companies Will Waste Money on Vanity Metrics: impressions, page views, and undefined terms like “engagement” are at best gameable and at worst meaningless.
  4. Ads & Conversation Will Impact Different Conversion Rates. One good test of whether your advertising can become a conversation: Would people notice if your ads stopped running? Clickthrough rate is not going to answer that question.