{ 30 comments }

eric dub September 17, 2009 at 2:47 am

RT @JDeragon Again, What Is Social Media? | The Relationship Economy…… http://bit.ly/kolXp

iFood blog September 17, 2009 at 2:47 am

RT @JDeragon Again, What Is Social Media? | The Relationship Economy…… http://bit.ly/kolXp

Jeff Molander September 9, 2009 at 7:40 am

Jay — I get it but it’s not making much sense to me.

“This currency is like money in that if your conversations create a rate of interest you are earning value created by the interest from people.”

Conversation is like currency — in that we can use it to measure value. Ok so far.

“The value created begins with a relationship with the market of interest. The market of interest is people whom have an affinity and interest in your conversation.”

Value is created.

“Converting conversations to money is the end result of effectively and efficiently managing the process of communicating value to an audience. Get it?”

No because the conversations are money. They’re currency. Ok, they’re “currency” of conversational value that aren’t worth money yet. Converting the currency (the valuable conversations marketers have with customers) to money requires managing the process of communications.

Forgive me but if anyone reading this blog doesn’t “get” that — and they’re in marketing — then we’re in big trouble.

Jay, I’m really criticizing what I consider to be a lot of fanciful playing around with words — more than anything else. Because after all who could possibly disagree with managing conversations to extract financial value? You start out saying that this is nothing new beyond acceleration of communications… and conclude by saying:

“The difference today is now you can measure the efficiency and effectiveness of communications down to whom, what, when and its value moment by moment.”

Ah, yes. “The Revolution” again. At what point are we having a revolution and at what point are we just engaging in hyperbole — if there’s nothing new outside of ubiquity, instant-ness, etc.?

As I see it none of us are able to, today, measure what you say we can measure — the value of whom, what, when — unless we revert BACK to what you mention directly (we never have been able to measure the value of communications).

Advertising. “Branding” which involves educating guessing (at best) and outright lies (at worst) in terms of measuring value for marketers. NOW we can measure again — using faux measures or guesstimates.

Bruno Ribeiro September 6, 2009 at 6:52 am

Short and simple: Again, what is social media? "Social media is a communications process leveraged by technology" – http://bit.ly/17RbfW

brunoribeiro (Bruno Ribeiro) September 6, 2009 at 6:54 am

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Short and simple: Again, what is social media? “Social media is a communications process leveraged by technology” – [link to post]

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merce September 5, 2009 at 4:04 pm

Social media es comunicación (vía @fredzimny) http://bit.ly/c65mW

merce (merce) September 5, 2009 at 4:08 pm

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Social media es comunicación (vía @fredzimny) [link to post]

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fredzimny September 5, 2009 at 2:27 pm

Again, What Is Social Media?.: Post found at http://bit.ly/HQm6s

Author: Jay Deragon
.. http://bit.ly/fdpK5

remdotco September 5, 2009 at 1:32 pm

RT @hansidink: RT @socialtechno: Social Media: it’s not a revolution, it’s just communication http://is.gd/2Vkjf

remdotco (remdotco) September 5, 2009 at 2:31 pm

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RT @hansidink: RT @socialtechno: Social Media: it’s not a revolution, it’s just communication [link to post]

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Hans Idink September 5, 2009 at 1:05 pm

RT @socialtechno: Social Media: it’s not a revolution, it’s just communication http://is.gd/2Vkjf

socialtechno (Gordon Rae) September 5, 2009 at 1:31 pm

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Social Media: it’s not a revolution, it’s just communication [link to post]

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hansidink (Hans Idink) September 5, 2009 at 1:07 pm

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RT @socialtechno: Social Media: it’s not a revolution, it’s just communication [link to post]

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Raymondwitvoet (Raymond Witvoet) September 5, 2009 at 2:40 pm

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@hansidink social media is an revolution enabler….

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Gordon Rae September 5, 2009 at 11:51 am

Really then, social media is all communication. So it isn’t a revolution. It’s what people always did, but with slightly different tools.

I don’t know why people want to know an ROI on communication, either. Communication suppports many different goals and purposes. If you talk to somebody and they buy your product, you haven’t “monetized their interest”, you’ve persuaded them to buy.

fredzimny September 5, 2009 at 7:55 am

Again, What Is Social Media? | The Relationship Economy……: http://tinyurl.com/n8ykdq >It’s all about… http://ff.im/7HnJU

fredzimny (fredzimny) September 5, 2009 at 7:58 am

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Again, What Is Social Media? | The Relationship Economy……: [link to post] >It’s all about… http://ff.im/7HnJU

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GKäfer September 5, 2009 at 2:25 am

Again, What Is Social Media? | The Relationship Economy……: http://tinyurl.com/n8ykdq >It's all about communication #e20 #yam #fb #refbt

b3buy (Business 3.0 Corp.) September 5, 2009 at 2:31 am

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Again, What Is Social Media? [link to post] It seems that everyone is trying to define social media and how to measure it’s ROI.

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GKaefer (GKäfer) September 5, 2009 at 2:28 am

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Again, What Is Social Media? | The Relationship Economy……: [link to post] >It’s all about communication #e20 #yam #fb #refbt

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Tweet_Leasing (Aron Stevenson) September 5, 2009 at 1:50 am

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Again, What Is Social Media? by @jderagon – The Relationship Economy…… [link to post] #socialmedia

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Ideafood (Dan Wallace) September 4, 2009 at 4:33 pm

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Again, What Is Social Media? Good post. [link to post] (via @simonmainwaring)

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SimonMainwaring (Simon Mainwaring) September 4, 2009 at 4:32 pm

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Again, What Is Social Media? Good post. [link to post]

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iJimCoyle (Jim Coyle) September 4, 2009 at 4:04 pm

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RT @Ideafood: Again, What Is Social Media? Good post. [link to post] (via @simonmainwaring)

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SocialNetworkWF (Social NetworkingWF) September 4, 2009 at 3:26 am

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RT @JDeragon Again, What Is Social Media? | The Relationship Economy…… [link to post]

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Elizabeth September 3, 2009 at 1:29 pm

This is a great overall look at social media. ROI is a little more difficult to come up with though because not all of the benefits of social media can be monetized. Can you place dollar signs on relationships or brand loyalty? Perhaps, but it wouldn’t be very accurate.

BrianCitizen (Brian C. Citizen) September 3, 2009 at 9:34 am

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Daily Deragon Dose: Again, What Is Social Media? [link to post]

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SocialMnews (SocialMedia Eqentia) September 3, 2009 at 7:28 am

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Again, What Is Social Media?: Source: The Relationship Economy [link to post]

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Allen Howell September 3, 2009 at 5:55 am

Jay – this is the clearest and most concise explanation (defintion) I have seen for “Social Media”. I will forward it on to all my colleagues who are scratching their heads wondering what we are dong and why all the buzz.

JDeragon (JDeragon) September 3, 2009 at 5:39 am

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Again, What Is Social Media?: Before you ask about what social media is or what is the ROI ask yourself how have.. [link to post]

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