ROI – Solved!
August 13, 2009 19 Comments
The very thorny problem of Social Media ROI (Return on Investment) was finally solved this week by the brilliant research work of social media guru Olivier Blanchard (aka The BrandBuilder).
Olivier, well-known throughout the blogging world as a marketing finance expert and bike-rider, dug deep into the world of virtual metrics and came up with a reliable, scalable, and reproducible method of calculating the financial impact of social media.
Eschewing traditional measures such as dollars invested vs. dollars realized, increased sales, and boring data points like that, Olivier applied his guru-like creative expertise to come up with a totally new and relevant series of measures – the “Blanchard Scale” (BS).
Since social media is relatively new and there is so much indirect impact on business, the Blanchard Scale bypasses hard numbers for new measures that take into account the subjectivity and wishful thinking of social networking efforts.
The Scale is summarized thusly, and works best if pronounced with a faint but distinct French accent:
– The Chihuahua (CH) – the smallest measure, a chihuahua of social media impact means that somebody saw something you did somewhere. If you get re-tweeted on Twitter, that’s an extra (or, venti) chihuahua.
– The Nutella (NU) – a Nutella of social media impact is when at least one comment on a blog or one Twitter dialogue ensues. A Nutella unit is often considered a measure of social media “sweetness”. If the dialogue is re-tweeted on Twitter, that’s a NU-CH.
– The Blanchard (BL) – also called a “glop”, this is a totally subjective impact measure which indicates that a bunch of really cool stuff is going on over several platforms, even if we can’t quantify it. Most social media campaigns are considered a success at a 5-Blanchard level post-launch.
– The Brogan (BR) – formerly labeled the Godin, this rarefied measure of impact is only achieved when you go viral, which means that there must be some money changing hands somewhere, and probably we’re going to get some. A 3-Brogan campaign is the gold standard in social media ROI. Occasionally augmented by a Vayner, which currently hasn’t been fully defined, but is definitely kinda loud.
– The Kaw (GUY) – only achieved once so far, all top bloggers want to be “that Guy”. Guess what – you’re not.
Prominent blogging gurus and experts were dumbfounded by the simplicity and utility of the new Blanchard Scale. “I give it 2 ‘heh’s up!” proclaimed social media expert influencer Jason Falls, who once had a post “go Blanchard” on his Social Media Explorer site. “I think all my clients will want to employ these targeted metrics, which are perfectly suited to describe whatever it is we’re trying to make happen. We’ll get people used to some CH-sized returns, then go straight for the big bucks with a double-Brogan campaign!”
Known for delivering consistent Nutella results for her many clients, social media guru Kris Colvin was ecstatic at the release of the new BS scale. “Olivier let me work with a beta version, and except for some spurious Kaws and a couple of transient Chihuahuas, I was able to provide some very soft calculations to my clients on the preliminary possible projected impact of their social media endeavors, right down to the nearest glop or two. Brilliant! I still think there should be a “Colvin“, however, tied to YouTube views…”
Doing BS calculations can begin immediately after downloading the Blanchard Scale from the BrandBuilderROI website. You simply make up your own price and get right to work, which is good practice for utilization of the tool. Those who use the Scale for a week receive a free “I’m a Full-of-BS Social Media Guru” certificate, suitable for scanning and posting on a blog sidebar.
Apart from a 975-work blog post on the subject, Olivier was reticent to share much about his next endeavor, the Nutella Channel, created to spread recipes using the new blanchard cooking scale. It is rumored, however, that a new micro-measure, the “Gill“, will be introduced when the upcoming Book of Blanchard and new on-line video channel are unveiled.
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