Minuteman Resources
  • Home
  • About Us
    • Services Provided
    • Partners
    • Client Testimonials
  • Resources
    • Useful Links
    • Videos
  • Contact Us

Blog Page
(Poh S. Lim)

The Future of Advertising (HBR Feature)

13/2/2013

 
Picture


The upcoming issue of the Harvard Business Review (March 2013) will feature on on the future of advertising.  Advertising is an aspect of Marketing which allows a product to be publicized.  The general public needs to be made aware of the offerings of a company before sales can be generated; if there is no awareness, then how is the customer to know that something is available and being offered.

One of the HBR blog video from this edition is entitled: "Why Some Ads Go Viral and Others Don't", where Prof.Thales Teixeira from the Harvard Business School, talks about some techniques that could be used in making memorable advertising videos.

Another article I found fascinating is "How to Calculate the Value of a Like".  The author, Dan Zarrella wote his formula of calculation of VOAL (Value Of A Like) as such:

      L/UpM x (LpD x 30) x (C/L) x CR x ACV = Value Of A Like

where: 

L (Total Likes): The total number of audience members connected to your social media account. On Facebook, these are Likes of your page, and on Twitter, these are followers.

UpM (Unlikes-per-Month): The average number of fans who "unlike" your social network account each month. On Facebook, this is an "unlike," and on Twitter, this is an "unfollow."

LpD (Links-per-Day): The average number of times you're posting links, and potentially converting links driven from your social media account. On Facebook, this is the number of posts you're making, per day, that lead to a page on your website. On Twitter, this is the number of times, per day, you're Tweeting these kinds of links.

C (Average Clicks): The average number of clicks on the links to your site you're posting on your social media accounts.

CR (Conversion Rate): The average conversion rate of your website, from visit to sale or visit to lead. This can be an overall average, but for increased accuracy, use the conversion rate measured from traffic coming from the social network you're calculating.

ACV (Average Conversion Value): The average value of each "conversion." In this context, a "conversion" is the action you've used to measure CR for. It could be average sale price or average lead value. For increased accuracy, use the average conversion value of traffic coming from the specific social network.

Fascinating.  I will have to try this formula some time, to see if the VOAL (Value Of A Like) is something which works for me.  In fact, Dan also gave a link to a VOAL calculator.  So, for you marketers out there, if you are interested, try this formula out



Comments are closed.

    Follow Us

    Google+

    About 
    Poh S. Lim

    As an interested citizen of the world, I make observations and in my way, contribute to the sum total of human knowledge.

    My motto comes from Rene Descartes, French philosopher, who at the dawn of the European Renaissance, wrote:

    "Cogito, Ergo Sum"
    meaning, 
    "I Think, Therefore I Am"

    View my profile on LinkedIn
    Picture
    Alumni, Class of '86 -- BA (Physics) Minor: Philosophy
    Picture
    The Minuteman
    Picture
    Picture

    Some of my Professional Credentials:

    PictureIRCA QMS Lead Auditor


    PicturePracticing Management Consultant


    Picture
    Associate Member Singapore Human Resource Institute
    Picture
    Advanced Certificate in Training and Assessment (WDA-certified)
    Picture
    Certified IT Business Continuity Manager (CITBCM)
    Picture
    Associate Member, Singapore Institute of Directors

    Archives

    December 2015
    April 2015
    March 2014
    February 2014
    January 2014
    December 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012

    Categories

    All

Copyright © 2015 | Minuteman Resources Pte. Ltd.
(ROC: 201529683G)
Email: poh.s.lim@minutemanresources.com
Website Terms & Conditions
File Size: 277 kb
File Type: pdf
Download File

Website Privacy Policy
File Size: 141 kb
File Type: pdf
Download File

Proudly powered by Weebly
  • Home
  • About Us
    • Services Provided
    • Partners
    • Client Testimonials
  • Resources
    • Useful Links
    • Videos
  • Contact Us