CBA vs ROI (cost benefit analysis vs return on investment)

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A great table and explanation of the difference uses and value of the two forms of measurement for social marketeers, from Angie Schottmuller in Search Engine Watch:

Cost-Based Analysis (CBA)
Return on Investment (ROI)

Formula
Benefits – Costs
( Benefits – Costs ) / Costs

Example
$12,000 B – $1,000 C
= $11,000 CBA
$61,000 B – $50,000 C
= $11,000 CBA… Continue reading | 3 Comments

Fake tweet campaigns come under fire from Indiana scientists

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Check out the conclusions of a recent analysis from scientists at the School of Informatics and Computing at the University of Indiana, on fake vs real tweet memes that could have serious implications for corporate social marketing campaigns in the future. Scroll down to the interesting point highlighted in bold. (PDF: Fake-tweets-identifier)

In this work we proposed a framework to deal with the problem of clustering memes in social media streams, Twitter in particular. Our system is based on a pre-clustering procedure, called protomeme detection, aimed at identifying atomic tokens of information contained in each tweet. This strategy only requires text processing, therefore is particularly efficient and well suited for a streaming scenario. Memes are thereafter obtained by aggregating protomemes on the basis of the similarity among them, computed by ad-hoc measures defined according to various dimensions including content, the social network, and information diffusion patterns. Such measures only adopt information that can be extracted in a streaming fashion from observed data, and they allow to build clusters of topically related tweets. The meme clustering is carried out by using a vari ant of Online K-means, which integrate s a memory mechanism to keep track of the least recently up dated memes. We used a dataset comprised of trending hashtags on Twitter to systematically evaluate the performance of our algorithm and we showed that our method outperforms a baseline that only uses tweet text, as well as one that assumes full knowledge of the underlying social network.

One crucial feature of our system is that it can b e extended to work with any clustering algorithm based on similarity (or distances). In this paper, for example, we chose to present Onlin e K-means b ecause of its simplicity; however, during our design we also tested other metho ds including density-based and hierarchical data stream clustering algorithms (e.g., DenStream [10] and LiarTree. Although a complete benchmark and tuning of these alternative methods was out of the scope of our analysis, we collected evidence of the ease of extension of our framework to different algorithms.

In the future one could extend the set of features incorporated by our clustering framework, considering for instance entities such as images. Furthermore, our preliminary analysis suggests that the introduction of time series as features may yield significant performance improvements. Our long-term plan is to integrate the meme clustering framework with a meme classifier to distinguish engineered types of social media communication from spontaneous ones. This platform will adopt supervised learning techniques to classify memes and determine their legitimacy, with the aim to detect misinformation and deception campaigns in their early stages. The platform will be optimized to work with the realtime, high-volume streams of messages typical of Twitter and other online social media.

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A mini case study – growth hacking within the enterprise

‘Growth hacking’ is a fashionable subject with the rise of startups, but it’s not so easy to established marketers to know how to use some of the insights to help in improving performance in day to day business activity.

Part of this is down to the fact its as much about mindset, as it is using tools to achieve growth.

I therefore wanted to share a mini… Continue reading

GrowthHacking Conference – top ideas below #ghc14

In case (like me) you didn’t get along to the GrowthHacking Conference 2014 in London today, the good news is there’s a set of group notes available.

And I’ll create the top ideas below, from individual presenters, where each top tip appeals to me/my own experience, using the #ghc14 on twitter to source the quotes:

  • Sean Ellis Testing is the only way to know if the

Surprisingly inspiring town of Leamington Spa

Thanks to Powershift (motto: “data science is the new rocket science”) I recently visited Leamington Spa to present a few simple growth hacking ideas.

In the process of wandering around waiting for our meeting, I picked up two curious historical facts about WWII, which was unexpected as I associated the town’s history around the Royal Pump Rooms and Baths:

  • The blast from a bomb dropped by

How to find early stage investors using LinkedIn

 

LinkedIn_investors

Click the image to go to LinkedIn’s Advanced Search feature, displaying results for keywords “angel investors” & for location “London, United Kingdom”

LinkedIn’s Advance Search is an effective way to find potential investors. Simply put the keywords “angel investor” or “seed investor” with UK as the location. Because of my network… Continue reading

How ROI can make your CV stand out

Here’s some great advice I found from Lazlo Bock, a Google HR guy, on why showing the ROI of your efforts on your CV really helps it stand out from the other candidates:
How do you make your accomplishments stand out? There’s a simple formula. Every one of your accomplishments should be presented as:

Accomplished [X] as measured by [Y] by doing [Z]

In other words, start… Continue reading

Everything Y Combinator know about how to start a startup, for free

How does this sound to you?
CS183B is a class we’re teaching at Stanford. It’s designed to be a sort of one-class business course for people who want to start startups.

Videos of the lectures, associated reading materials, and assignments will all be available here. There will be 20 videos, some with a speaker or two and some with a small panel. It’ll be 1,000 minutes of content… Continue reading

Marketing is all about finding and supplying demand

Here’s an easy assertion to kick off this blog post, marketing is all about demand. Why? Because one thing that startup marketing teaches you is that you’ve got very little in tangible terms if you don’t have much in the way of demand for your product or service. But I’m not writing this to focus on startups, on using this to help focus regular SME marketing on demand. Why? Because it… Continue reading