A number is a mathematical object used in counting and measuring. A notational symbol which represents a number is called a numeral, but in common usage the word number is used for both the abstract object and the symbol, as well as for the word for the number.
Businesses run on numbers. Orders taken, market share, stock prices, number of employees, payroll, number of customers, revenue, number of products etc etc. The web also runs on numbers. The number of hits, vistors, connections, tweets and retweets, readers, comments, links etc. etc. One wonders what the value of numbers are and that really depends what one does with the numbers.
What Is Your Number?
As people migrate to use of the social web they watch their numbers. Numbers support theories used to justify actions, expenses, efforts and theories. Some people want to focus on a number rather than numbers. Individually a number is rather meaningless unless it is put into context of other numbers, Numbers are used to measure actions aimed at a purpose. If the purpose is revenue then people measure the outcomes of their efforts, actions and expense against revenue gained. Social media provides lots of numbers but the combination of the numbers is what creates the value.
Revenue comes from providing outstanding value to the end user in response to the number the end user spends obtaining the value offered. Whether a product, service or a conversation the number equates to time and money spent gaining the value of the proposition. A conversation can be the beginning of a proposition. Some conversations provide lots of value with little initial exchanged currency. However, the social exchange creates high memorable value, credibility and the potential for a relationship. When a memorable exchange provides credibility and enhances a relationship then the process increases the potential of an economic exchange sooner or later.
The web is the largest database of numbers and always will be. The web tracts you presence, your content, your conversations, your connections, your credibility and meorizing everything that anyboday does and says. This massive database of numbers is a roadmap for people to find what and who they want for whatever reason, whatever product or service, whatever. An individual or a business number represents the new social currency that is driven by credibility, memorability and reflected by the relationships centric to the content and conversations provided and its relative value.
Revenue is a reflection of consistent value delivered over time. The ROI from social media is not reflected by immediate revenue rather from revenue driven by credibility, memorability created by your conversations and those of the relationships you keep. The ROI from social media is based on what you do with social media not what social media does for you. Get it?
What say you?