29Dec/100
Tim Ferriss: stop wasting money on vanity metrics
"The 4-Hour Workweek" and "The 4-Hour Body" author Tim Ferris nails it in his Mashable guest post 4 Social Media Marketing Predictions for 2011:
“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:
- YouTube Beats Yahoo — Video Will Convert
- The Full Resurrection of E-mail: e-mail addresses are a safer long-term investment than social media features
- Large Companies Will Waste Money on Vanity Metrics: impressions, page views, and undefined terms like “engagement” are at best gameable and at worst meaningless.
- 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.