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Jamie Turner is the Chief Content Officer of the 60 Second Marketer, the online magazine for BKV Digital and Direct Response. He is also the co-author of “How to Make Money with Social Media” now available at fine bookstores (and a few not-so-fine bookstores) everywhere.
First the bad news: If you’re going to calculate the ROI of your social media campaign, you’re going to have to know math. That may come as a disappointment to people who thought social media was only about accumulating Twitter followers or monitoring Facebook “Likes,” but it’s true. The future of social media is about math, metrics and monetization.
The problem is that most companies aren’t doing an effective job of measuring the value of their social media campaigns. In fact, a recent survey by Econsultancy found that 47% of the companies they surveyed said they were “not able to measure” their campaigns and that “the jury is still out” on the value gained from their social media investment.
If you’re one of the people who isn’t measuring your social media campaigns on an ROI basis, you’re setting yourself up for failure. Here are some tips, advice, and a little bit of simple math to get you on the right path to ROI success.

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Understand the Value of Your Social Media Campaign

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According to the Direct Marketing Association, if you run a direct response campaign and spend $1, you’ll typically generate $10 or more in return. They know this because they’ve been tracking the transactional data from direct mail, paid search, direct response TV and other campaigns for more than 50 years.
But what if you’re new to social media or new to the world of direct response metrics and don’t have that data or experience? What should you do then?
Fear not. There’s a solution. It involves understanding the 3 categories of social media measurement as well as a simple formula that will help you calculate the ROI of your specific campaign.

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The 3 Categories of Social Media Measurement

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There are hundreds of different ways to measure social media, which makes it kind of difficult to wrap your mind around. To help with that, social media metrics can be broken down into three different categories.

• Quantitative Metrics: These are the metrics that are data-intensive and number-oriented. You can really get overloaded with different metrics here, so the trick is to pick the key metrics that most influence your business and not get bogged down with the rest. Those metrics might include unique visits, page views, followers, demographics, frequency, bounce rate, length of visit or just about any other metric that’s specifically data-oriented.
• Qualitative Metrics: These are the metrics that have an emotional component to them. For example, if 75% of the people who mention your product online call it “cheap” and only 25% call it “inexpensive,” that’s a qualitative metric that has an impact on your business. There are several companies that provide in-depth analysis of the qualitative metrics online. Some of these include RapLeaf, Nielsen and Adobe Online Marketing Suite.
• ROI Metrics: In the world of social media, all roads should lead to ROI. After all, during business hours, social media isn’t just about being social, is it? We’re doing it to make money. And if you track what percentage of people you converted from a prospect to a customer on your e-commerce site, or how many people you converted from a prospect to a client on your B2B website, then you’ll be able to measure the success of your social media campaign on an ROI basis.

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Break Out Your Thinking Caps for Some Math

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The most important formula in social media is your Customer Lifetime Value (CLV). In a very basic sense, Customer Lifetime Value is the amount of revenue a customer will bring to your company over the course of their lifetime with your brand.
So, for example, if you’re a lawn care company and you know that a typical customer spends $80 per month with you and that the average customer stays with your company for 3 years, then your Customer Lifetime Value would be $80 x 12 months x 3 years = $2,880.
Once you know your CLV, you can decide how much you’d like to invest to acquire a customer. This is called your Allowable Cost Per Sale. Many people use 10% of their CLV as a starting point for their Allowable Cost Per Sale. In the example above, your CLV is $2,880 and 10% of your CLV is $288, so your Allowable Cost Per Sale is that number: $288.

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Putting Customer Lifetime Value (CLV) to Work

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To keep things straightforward, let’s assume that the lawn care company relies exclusively on direct mail to acquire new customers. Since a typical response rate for a direct mail piece in the lawn care industry is 0.5%, and since it costs about $1.44 to create and send a direct mail piece, you know that you have to send out 200 direct mail pieces to acquire a new customer. Here’s how the math works out:

• Number of pieces sent: 200
• Cost for printing and postage: $1.44
• Total cost to send 200 pieces: $288
• Response rate: 0.5%
• Customers acquired: 200 pieces mailed x 0.5% response rate = 1 new customer

See how that works? For every $288 spent, the lawn care company gets 1 new customer.
Let’s take it a step further. If you’re a large, national lawn care company, you might spend $2.8 million on your annual direct mail campaign. By using the math above, you know that every year, you’ll gain about 10,000 new customers from your $2.8 million direct mail campaign. (Remember, you’ll also lose thousands of customers each year from ordinary churn, so let’s not all go out and start lawn care companies based on the math above.)
Now, let’s assume that your CFO (or your CEO or CMO) wants to test the validity of a social media campaign. In order to do the test, you might slice off 10% of your $2.8 million direct mail budget and use that for a social media campaign. If you know that your $2.8 million direct mail campaign generates 10,000 new customers, then you also know that 10% of that (or $280,000) should generate about 1,000 new customers via direct mail.
That’s the pivotal number: 1,000 customers. After all, now that you know the math around your direct mail campaign, you’ll understand that your social media campaign has to match that in order to be considered a success.
In other words, you have $288,000 to set up, launch and run a social media campaign that needs to generate 1,000 new customers per year.

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What You’ll Need

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You’ll need a Facebook page –- no problem. You’ll want a Twitter page –- again, no problem. And you may want to create a series of videos for a YouTube channel –- a bit of work, but also not a big problem.
You’ll want a mobile application, since prospects and customers are beginning to expect them. And you’ll want to develop a monthly e-newsletter with lawn care tips to stay in front of prospects and new customers. (Yes, I consider e-mail marketing a social media tool.)
The most important part of the campaign, however, is a series of landing pages on your website designed to capture prospects and help convert them into paying customers. The landing pages will be designed specifically around the social media campaign, and they’ll need to have Google Analytics, Eloqua or Adobe Online Marketing Suite installed so that they can track traffic and conversions.
The key point is that all of your social media programs –- Facebook, Twitter, YouTube, etc. –- should drive people to the landing page on your website where you can convert them from tire kickers (prospects) to paying customers.
Looking at the program outlined above, it’s easy to see how quickly your $288,000 social media budget can get used up by Facebook, Twitter, YouTube, mobile applications, e-newsletters and landing pages on websites. All that said, it’s very realistic to assume that a campaign of that magnitude would generate 1,000 new customers each year. Better still, it may generate 1,100 new customers or even 1,200 new customers.
Remember, all you have to do is to generate 1,001 new customers in order to march into your CFO’s office and show them that social media can provide a positive return-on-investment.
See? Math isn’t that scary after all.

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The Bottom Line

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We’ve covered a lot of ground here: the three categories of social media measurement and the single most important formula in social media. But the bottom line is that, as businesspeople, we don’t use social media to be social, we use social media to grow our business. And if you use the program outlined above, you’ll be able to prove the value of social media on a campaign-specific, ROI basis.
Good luck. And keep me posted on your success stories. I’d love to hear more about how you’re using social media to grow your sales and revenue in the comments below.

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from Mashable

How to Succeed at a Job Fair: "
Looking for a job, especially at a job fair, can be a lot like trying to get a date at a crowded bar -- there are plenty of potential dates to choose from, but chances are none will want to dance with you or date you for the long-term.
If you've ever been to one of the many job fairs across the country, you've seen the long lines of job applicants with resumes in hand, all pushing for a spot up front to get a recruiter's ear. It's a meat market without the drinks. I've been to a few since being laid off in June 2008, and have for the most part found them to be a waste of time unless you go in prepared and with a goal of networking rather than getting a job immediately.
"

Clouds of hot or wedus gembel (Foto: Reuters)

Clouds of hot or wedus gembel (Foto: Daylife.com)

Merapi volcano erupts. (Foto: twitter)

MerapiVolcano (Koran SI)

President Barack Obama said he is “absolutely” ready to negotiate this month with congressional Republicans, who have hardened their stance that soon-to-expire Bush-era tax cuts should be extended for high-income taxpayers.
Obama, a Democrat, said today that he hopes to avoid “brinkmanship” in the lame-duck session of Congress when he confronts Republicans over how to prevent expiration of lower taxes on wages, investments and multimillion-dollar estates that were enacted in 2001 and 2003. Unless Congress acts, those tax policies expire Dec. 31.
“My goal is to make sure that we don’t have a huge spike in taxes for middle-class families,” Obama said at a White House news conference when asked if he would seek a compromise with newly empowered Republicans on such matters as preserving the tax cuts on the first $1 million of income.
Obama has been adamant that the U.S. can’t afford to extend policies that benefit high-income Americans, whom he defines as individuals earning more than $200,000 annually and couples making over $250,000. Treasury Secretary Timothy F. Geithner has said that doing so would add $700 billion to the national debt.
“My hope is, is that given we all have an interest in growing the economy and encouraging job growth, that we’re not going to play brinkmanship but instead we’re going to act responsibly,” the president said.
While defeated Democrats will still control both houses of Congress when it convenes for a lame-duck session the week of Nov. 15, the tax-cut battle will test whether Obama and Republicans can find common ground on divisive issues. Republicans gained at least 60 seats in the House of Representatives in yesterday’s election, or 21 more than necessary to win control. They also won at least six new seats in the Senate, narrowing the Democrats’ majority.
‘Right Policy’
“We continue to believe that extending all of the current tax rates for all Americans is the right policy for our economy at this time,” John Boehner of Ohio, the House Republican and the likely Speaker in the next Congress, said today.
Republicans have faulted Obama and Democrats for failing to act earlier to extend the tax cuts enacted during President George W. Bush’s administration. Among other things, the policies established lower marginal tax rates, eliminated the so-called marriage penalty, doubled a child tax credit to $1,000, lowered rates on most capital gains and dividends to 15 percent, and phased out the estate tax.
Tax Rate Increase
If Congress takes no action, individual income tax rates will increase to 15, 28, 31, 36, and 39.6 percent from 10, 15, 25, 33, and 36 percent now, respectively. Reinstated limits on certain deductions and exemptions would push rates even higher for taxpayers in the top two brackets.
Many married couples would pay more in income tax than if they were single. The child tax credit would be reduced to $500. Rates on capital gains would revert to 20 percent, and dividends would again be taxed at ordinary income rates. The estate tax, repealed for this year only, would affect estates exceeding $1 million and would have a top rate of 55 percent.
Obama campaigned on preserving the tax cuts only on the first $250,000 of a couple’s income. That would mean increasing the top two marginal rates and higher rates on capital gains and dividends; Obama has sought to cap the dividend tax rate at 20 percent. The president also wants to exempt the first $3.5 million of estates from taxes and levy any excess with a top 45 percent rate, reverting to the rules that existed in 2009.
Renew Them All
Republicans have long insisted that all of the Bush-era tax cuts should be renewed. Doing so would cost the government about $5 trillion in foregone revenue and interest costs on the debt over the next decade, according to an Oct. 27 report by the nonpartisan Congressional Research Service.
Wisconsin Republican Paul Ryan, who is in line to become chairman of the House Budget Committee, said Republicans hope the president “puts the class warfare rhetoric aside, puts the redistribution ideology aside and works for the better of the economy.”
Senate Majority Leader Harry Reid, who won a close bid for re-election in Nevada, told reporters today that the Democrats are still “focused like a laser” on extending tax cuts to middle-income taxpayers. He said permanently extending all the Bush-era cuts would be “a road to a $4 trillion debt. That won’t happen.” Reid’s $4 trillion figure doesn’t include interest costs.
Obama also said he would push to renew dozens of expired breaks that primarily benefit businesses, including a tax credit that subsidized research and experimentation. Separately, Congress must act to roll back a $70 billion alternative minimum tax increase, already in force for 2010, that would affect more than 30 million households.
Alternative Minimum Tax
Pat Heck, a partner at the Washington law firm K&L Gates LLP, said the need to prevent the increase in the alternative minimum tax will be the biggest catalyst for Obama and lawmakers to strike a deal.
“That absolutely has to be done,” Heck said. “Without the AMT patch you’re going to have 25 million taxpayers get hit by a tax bill next year that they hadn’t planned on.”
A short-term compromise is most likely on the Bush-era tax cuts, he said. “I think there’s enough time for them to come together; it’s not rocket science.”
To contact the reporters on this story: Ryan J. Donmoyer in Washington at rdonmoyer@bloomberg.net
To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net
Obama Says He'll Negotiate With Republicans on Bush Tax Cuts - Bloomberg