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An article published in ED Tech Magazine last month discussed some of these developments. It uses powerful analytics, confidence-based evaluations, and pre-learning tests to assist businesses in avoiding the pitfalls of generic learning. Organizations, on the other hand, can actively utilize resources to achieve optimal training ROI.
Higher Order Bits: Human vs. Business, Success KPIs, S-T-D-C Framework, MoR Test. It is pronounced the more test. It is an acronym for a test I often use in my consulting engagements. It stands for: Money off Roof test. Google SMB channel on Facebook fails (massively) the MoR test. Facebook for Businesses.
Ramon Ray , tech evangelist and founder of Smart Hustle Magazine, wrote about how to best present your data to a wide audience. Each brings new insights needed to make better business decisions and increase ROI – insights from the past, future, and prescribing possible outcomes. When necessary, provide recommendations.
When this contribution is put against the marketing spend in the particular channel, it produces a reading on the highly coveted return on investment (ROI). ROI gives a standard interpretation of whether a marketing activity was profitable and to compare efficiency across media channels or campaigns. When can you give us the ROI?”.
A Facebook employee (FBe) gave a talk about measuring ROI/Value of Facebook campaigns. So to imply the ROI in Step 4 is sub-optimal. Compute ROI: (cost of Facebook campaigns + salary of people running campaigns + agency creative costs) vs. profit from incremental product sales. It is a lovely emotional video (really was!).
Other tools, can provide more dimensions including children, political leanings, ethnicity etc… You can see how this might be a lot more interesting for a magazine or content sites, and perhaps a lot less to other types of businesses. Structure tests to validate these hypotheses. Stop wasting time with Social (or do more!).
PS: Bonus : Facebook Advertising / Marketing: Best Metrics, ROI, Business Value. My hypothesis is that TV/Radio/Magazines have created this bad habit. Another legacy of old channels of advertising like TV, magazines and radio. It is what you do after that first hello that creates business value. Not going to happen.
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