Representative from Motley Fool moderates the discussion regarding What, So What, and Now What? Good questions, these. I've been experimenting here with 'live blogging,' and have instead merely reported without much context or comment on what I heard. Serves my purpose as I'm using Wordpress to hold my notes, but the results is likely not a compelling read for anyone – including my mother.
The conversation is touching on location-aware services. We will increasingly give up privacy in order to get targeted advertising that will be more relevant to our interests. This also can be useful to us as good citizens. What if we could receive SMS alerts that told us a child abduction had just taken place within the last 20 minutes, within a thousand yards of our current location? The price is privacy, the common good would be enormous.
This field of location aware services will grow, not only through consumerization, but also due to advances in government activities, law enforcement and military operations, etc. I make no opinion here, just observing.
Another conversation regarding the ROI of social media. What happens when the marketers arrive? We have an opportunity to help them use the tools correctly. It is very difficult to connect an online community to bottom-line results. But the question isn't going away. What suffices right now is an adjacency model. "We did x and y and then realized z revenue." This will persist until firms accept social media behaviors as core to the business, just as marketing is.
More conversation about how to quantify this anyway. Sigh.
I return to the first blog post in this tiny site: there may be no correlation between these behaviors using social media and financial results. Connecting to your users/constituents/voters/employees and prospects carries with it strategic ROI. In the excellent book by Patti Anklam, she steered me to understand the elements of a firm as being human capital, structural capital, and relationship capital. It is how we leverage these, well, levers for organizational value that contributes to the bottom line. I need to connect activities to how they help us execute corporate strategy by building relationship capital – and get away from trying to quantify the effect of specific initiatives on the bottom line. If I did answer that question, I would be pretending there was no role for strategy and other factors that allow success to emerge.