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

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 idea is great. Test all growth levers – e.g. Dave McClure’s Pirate Metrics: Acquisition, Activation, Retention, Revenue, Referral
  • Lesley Eccles Investment adds pressure – you HAVE to make it work.
  • Zack Onisko Product Hunt has grown quickly because they only let influencers submit products in the early days.
  • Alex Depledge Apparently when you raise millions of dollars in investment you have to give yourself a C-level title.
  • Nilan Peiris Every app on your iPhone has an insanely high NPS
  • Karl Banks Find out what is deeply stopping visitors and accept that fixing it is the only way to grow.
  • Rand Fishkin In 2007 there were 1 billion Google searches a day. There are now over 6 billion a day & free keyword tool http://keywordtool.io/ (plus check out semrush and buzzsumo) and slide deck below…
  • Marie Steinthaler Use all the tools and build a growth stack (image below)
  • Simon Dance We’ve seen a direct correlation between pages that get crawled regularly & their number of visits
  • Jamie Quint Spend 25% of your engineering time on getting your metrics and dashboards right & focus on longer term usage rather than the number of new users: sustainable growth
  • Sofia Quintero Sustainable business is building a community around your product and transactions.
  • Saul Klein #Technologists need to put structure & discipline around marketing’ & It’s important to balance your growth with your ability to grow & If you’re seeing hockey stick engagement but not downloads or signups, that’s a time to invest in growth & in early stage startups, growth hacking should be around the product and customer acquisition not awareness
  • Peep Laja If you torture data long enough, you can get it to say anything & you don’t need data, you need insights & Leave AB tests running for longer, not statistically significant until you have 350 conversions; slide deck below
  • Ian Hogarth here’s no framework for growth-hacking, what works for a company may not work for another
  • Morgan Brown Growth is a team sport
  • Neil Patel Just tell ‘em you want to give them free tea AND money (talking about about Instagram influencers promoting brands) & Find sites who have similar audience to you & cut a CPA advertising deal to capture email addresses & grow your userbase

SLIDES

Growth Hackers Conference – PDF download version

 IMAGES

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

How far has crowdsourcing finance come in five years?

After watching this BBC report on crowdfunding I started wondering how the piece I wrote for ICAEW’s community in December 2008 on the power of crowdsourcing ‘Is web 2.0 enabling a new kind of financing?’ looks now in July 2014?

Certainly crowdfunding startups through investment (equity) has come along way, first with Crowdcube and more recently Seedrs, which was inspired by Zopa… Continue reading