Tag Archives: ROI

ROI and Working with Social Media Influencers

amirandes-crete-minI have just read Skift’s latest which includes the use by tourism boards of social media influencers and my head is about to explode. In the piece the Tempe, Arizona tourism board is referenced as viewing the 2m social media impressions generated as a successful return on their investment for inviting 4 bloggers to be their guests. Let me express that I have more than a little experience, and many documented analytics to prove, that Tempe set the bar way too low.

As a first let’s understand that in 2016 tourism accounted for 10.2% of GDP and one of every eleven jobs globally, and despite our geo-political circumstances these figures are growing, not shrinking. In some markets, by example Croatia, tourism represents approximately 20% of their GDP. What’s more, because of globalization, machine learning and artificial intelligence employment for the average person will increasingly be found in the travel vertical; which makes customer care and attention-to-detail skills so important in your hiring decisions. A less than perfect cup of coffee in our social media connected world becomes an immediate, and widespread, negative review (Yvonne also shared her post on LinkedIn). So, before inviting anyone who is an influencer to visit, get your house in order (“Is your destination Instagram-worthy?”).

Next, there is an enormous disconnect between the possibilities which could be realised and the results generated largely because the right questions aren’t asked, nor have parameters been established around a visit from a journalist, blogger or social media influencer in advance. If you are the person responsible for coordinating ‘press visits’ allow me to suggest you embrace at least the following points before you decide to host anyone:

  1. The average global rate of engagement (on Twitter) is 1.6%. As influencers anyone you invite should be able to generate at least triple that (4.8%) and since they are in the very top tier of people on social media globally 6% is a very realistic objective. While previous performance does not guarantee future results you are engaging them, and their portfolio, on your behalf. It is entirely reasonable to ask to see examples of their previous work and the supporting 3rd party analytics (get as granular as you feel is necessary).
  2. Ask for references. No one has time for prima donnas (of either gender) no matter how large their following might be. It’s in your very best interest (mitigate stress levels for your organisation and those venues you will visit) to know how easy, or difficult, an influencer might be to work with as well as the satisfaction your peers had with their delivery of top quality content in real time and the subsequent results (again documented by analytics).
  3. The total number of impressions generated is a fragment of what should be part of your evaluation cycle. Unlike any other vertical, hospitality realises close to an 11% conversion rate on social media engagement (see point #1 above) making the quality of their content extremely important to your future revenues. Establish specific requirements about the content for the posts, what they need to post and how many times per day before, during and after their stay in exchange for your hospitality.
  4. Once you decide upon contracting a social media influencer to help you with your marketing efforts, it is entirely reasonable to me as I have done this for clients, to ask that they pre-market their trip to visit you. This can vary depending upon the scope of the package you have put together for the guest but a single Instagram and Twitter post each day for two weeks leading up to their visit is about right.

Transportation, accommodations, feeding (and providing beverages), spa treatments, and activities for a week can run into the tens of thousands per person and providing that hospitality needs to come with business objectives and metrics as part of your invitation. When I worked doing public relations in tech we used to use a CPI (columns per inch) metric to calculate the value of earned media against monies spent, anything above a 4:1 ROI was deemed a success. If you are spending 100,000 of whatever your local currency is (I think) at minimum you should realise a demonstrable 5:1 ROI (and yes, there are ways to measure this).

Finally, an entire portfolio of dreamy backlit views of your influencers pool or ocean-side are not going to fill your restaurants to eat your glorious gourmet food and drink the world-class wines in your cellar.  Whatever your budget might be for hosting please remember this point – their visit is not positioning them to expand their personal brands at your expense, it is about driving your incremental revenues by heightening the awareness of everything about your destination.

Post script. While the trade laws in every country will vary please be hyper-diligent about compliance issues related to in-kind and monetary payments to social media influencers. In the United States the “Federal Trade Commission (FTC) has rules in place requiring that “influencers” who share promotional materials “clearly and conspicuously disclose their relationships to brands”.”

If you enjoy my blog please consider ‘buying me a cup of tea’ in your currency via PayPal to livelikeadog@gmail.com and then, please do share the blog with your friends on Facebook, Google+ and Twitter – I am @TeresaFritschiTo order my book, please click on the cover art of my book below, thank you! 

There will be light! An utterly incongruent story of six lamps.

As my dear friend Ken Herron said when I told him the story, “You can’t make this stuff up!” and while the following may provide evidence to the contrary I am not (as he said) a “crazy lamp lady”.

I will admit, I live on the edge of outright financial disaster, but surrounded by beauty (which makes up for a lot) and always in a state of gratitude. I have very little in terms of expectation, and I am ridiculously happy for my version of normal which for anyone else would likely bring about bleeding ulcers, nocturnal teeth grinding and require serious pharmaceuticals to abate sitting in the corner of the room rocking back and forth and drooling on myself.  I trace this ‘cause and effect’ back to the willful folly of a 17 or 18 year old me desiring something denied by my father who said no more times than not to me while rarely denying my brother a-n-y-t-h-i-n-g, and my intuitive sense of navigation to find a way around an ‘in trust for’ passbook bank account and to the desired financial assets. (Whereupon my father announced that he was “washing his hands of me” – c’est la vie.)  I recall years later my mother saying something sarcastic about the fact that I always buy myself what I want by way of explanation for not receiving anything for my birthday, yet again. Sigh. I learned self sufficiency (for need and want) in an environment of disproportion; I am unapologetic.

intentionThat expressed, nice things happen to me. Frequently. Specialness that you could only put at the threshold of a universe that demands equilibrium.  A universe where intention manifests, despite the totally illogical, circuitous path traveled and where I find myself with (undeserved?) abundance. This is a true story about such. About how I “shouldn’t have, but did” and how in the end it worked out better than any rational human being assigning risk management theories could predict or that common sense would dictate. This story is about the universe saying yes when it should have denied me, and didn’t. This is the utterly incongruous story of six lamps and the unexpected, but very happy ending on my path to reinvention and relocation.

In 1992 I bought a pair of antique Famille Verte Chinese covered urns with mud decorations and battle scenes with carved rosewood stands for $99 (inclusive) in a junk cum antique DSCN9916shop in Buffalo, NY’s Allentown district.  I then took them to renowned antique dealer Dana Tillou (I have also been a customer of his nephew Jeffrey) to ‘see what I had scored’ only to have Dana gently suggest that given their value (at the time about $1100) I not drill them and turn them into lamps; which of course is precisely why I bought them and what I did. Elmwood Lighting (now out of business) did the honors and with the custom ecru silk lampshades the bill came to $161 and change (I had the receipt until fairly recently) all in $260.

Fast forward to 2013.

When I decided to uproot my life (to at the time destination unknown) last year I decided that I would start selling off my possessions to make the move easier, and with a new life would come a complete redo of my living-room decoration.  So I listed them on eBay, they had a buyer, who turned out to be one of those eBayers that give the company a bad reputation with sellers, for the $260 I had ‘invested’ after enjoying them for 20 years.  Alas, she opened a case and claimed “not as represented” (and then as broken) and eBay in their wisdom offered her a complete refund because I had insurance on the two boxes even while she had not returned the lamps.  I filed a claim with USPS, asked her to make them available to an inspector, to return them and hoped for at least the $200. Months dragged on, but eventually USPS issued a check for the $200 and a couple weeks later the lamps came back – not a total loss but time and money would have to be spent to find a replacement carved rosewood base and have the repairs done.  Eventually these would happily sell a second time for the same $260; net gain was about $170. Another lamp uneventfully sold for $260 putting my cash flow in the $430 range.

Obviously if you are selling lamps there is still the need for lighting to see after dark.  And my longest, dearest held girlfriend Doris (an age peer of my parents) once had a pair of reticulated Blanc de Chine ginger jars that had been wired and sat on her mantle that I loved.  The man that ran her downsizing household sale was having an estate sale in my DSCN0001neighborhood and I managed to score a reticulated Blanc de Chine vase, the base already drilled, from him for $18 (picture at right). I found an antique hand carved Chinese wooden display stand that fit on eBay (actually, eventually, two) for $60 and had my lovely local lamp repair guy Brian handle the wiring for me – $79 (brass fittings and labor, tax).  I shipped the new lamp to NYC for a custom silk lampshade as no local business to my current home does such work at a cost of about $50. If you are doing the math along with me here that meant that I was still ‘up’ $233 after using my other lamps for roughly 20 years, not a bad ROI.

After massive grief and delays (three months) in having the custom turquoise blue silk pagoda lampshade made the lamp arrived back in one box and the lampshade in another – fully insured thank God – bill $640 (I know, I know, I am insane but I beg you not to look at me that way) for the lampshade and the shipping back. Technically speaking the whole gorgeous lamp with the shade came at an end cost $417.) BUT, the lamp base arrived back to me shattered! (argh), receipts forwarded to FedEx, more grief, partial refund requested, more dialogue, more emails, more receipts, waiver on claim, still broken lamp and an expensive lampshade and no lamp and then finally, nearly miraculously, a check arrives from FedEx – not a partial refund but a check that covered the shipping, the lampshade that wasn’t damaged, and the lamp – for $825 and some change!  Now the net cost of the new gorgeous lamp is actually nothing, and I have “made” $408 in the process.

Here’s where it gets even more interesting.  I was looking for a lamp finial for the Blanc de Chine vase lamp – so off to eBay and that’s where I found the dragon porcelain lamp (see the Pinterest story by clicking here, start at the bottom to see what it looked like on eBay) and finiala lamp finial ultimately paying $215 (including the shipping). Alas, it had a serious ugly lamp cap and an eBay source sold me a solid brass one that is PERFECT for $3. The accounting? Still ahead by $190!  The finial turned out to be really big (for either lamp) at 3” in diameter and a bunch of research turns out that it is actually an antique carved Mutton Fat (white) jade plaque from China (quite valuable) turned into a finial likely late 1800s so I listed it on eBay (more on this in a bit).

My lamp guy charged me $30 to rewire (what turned out to be gilt ormolu mounted) the porcelain lamp, and I am still ahead by $160. My 2nd new lamp now needs a lampshade.  DSCN9991There is no way I can justify another custom silk shade so I try the blue one on this lamp and decide it looks perfect but the Blanc de Chine, now devoid of its custom pagoda shade, needs one. Back online to do research for something “in stock” and I settle upon a black silk shade with gilt lining DSCN9999but I am not spending $89 plus shipping. So back to eBay where, to my utter amazement, I find the perfect size, brand new, unused, oval, black silk with gilt paper lining shade originally sold in a town that I lived in out on Long Island’s North Shore – and I auction snipe it (bidding at the 30 second mark before the auction ended) and score it for $19 (including the shipping)! It looks amazing and despite all the energy expended my two new lamps have a total cost of nothing and I have made $141!!!

That is not the end of this story. Remember the carved jade plaque as a lamp finial? I sold it on eBay for $800. (Not factoring in eBay and PayPal fees) the universe has netted me two breathtaking lamps and I wound up making $940 – which, if I am truthful, should have been used to pay my rent in the first place instead of messing around buying lamps and that is where the money eventually went.

Both lamps have “cousins” on the 1stDibs website – the Blanc de Chine at $2250 and the gilt mounted porcelain 19th century French oil lamp that had been converted at $3000. A 60 watt bare bulb would ‘do’ for reading and no one actually needs a pair of lamps worth $5200 but I do love how the universe conspires to let me live with beauty – which is exactly what I ‘need’.

I still have this antique Paris porcelain one to sell with its custom silk shade – if you are interested. 😉

P.S. September 2014 – the Paris Porcelain one sold – $325 – bringing my grand total net gain $1265.

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Predicament

I arrived at the local library essentially to scope out new book offerings (yes, I am one of those who clings to the smell of paper and ink, the sound of pages turning, the visual harmony created by a talented graphic artist, the stimulation spilling forth into me like a latte stoking the caffeinated amongst you).  Inspiration for writing comes as much from reading other words as observing life – my timing could not have been more perfect.

As I climbed the stairs to the second floor I was met by a couple of librarians, two moms and three very little girls – one of whom had managed to stick her head between the supports of an upcoming event sign and was now STUCK.

ImageShe wasn’t hurt or crying (thank goodness) but she was bent at the waist, head through the uprights, curls tousled about her like a halo, tiny ruffled skirt balancing the horizontal image before me.  I commented to the pony-tailed woman on the floor trying to extricate the brunet china doll that her curiosity should be commended.  The mom replied, “Oh Gawd she’s not mine, I am just watching her for a friend!” and, thus, the predicament inspiration.

Not all knowledge is gained from books (despite my penchant for them) most of it is acquired by the roll-your-sleeves-up-jump-in-there methodology.  We learn hot and cold from touch and taste.  We learn to trust that internal voice from repeatedly feeling ‘off’ in circumstances, the gut instinct honed. We learn to dress appropriately (hopefully) by fashion faux pas committed when the stakes are non-existent and we are still in single digits.  We learn from observing and mimicry of our elders and mentors how to speak, walk and be kind.  And within that space of discovery is the ‘feeling an imposter’ syndrome that all of us – the Rhodes scholar and average Jane alike – go through at some point or another on the path to who were are meant to be.

 “Our bodies change our minds, and our minds can change our behavior, and our behavior can change our outcomes.” 

 Amy Cuddy, PhD, Associate Professor, Harvard Business School

Belief in self is more often realized because we keep trying at what we feel we are drawn to ‘do’; the ROI being competency in place of doubt (which may have) once existed. You are lying to yourself if you have never had a moment of absolute terror at being ‘discovered’ a fraud when faced with a challenge you had yet to tackle.  I recall sitting in the security office of a global pharmaceutical company many years with four other individuals all waiting to begin our on-boarding processes. The unknown man who would soon sit opposite me turned and in barely a whisper said “I feel a like a pretender it’s been so long that I have been looking for work. What if I can’t do this anymore?”  Two things struck me about his statement; the first was the transparency, the second was the vulnerability.  I believe we gain strength from exposing our raw underbelly – selectively. The stars might have been aligned when he chose me to express his doubts (there would never be a chance of betrayal as my own leap into the Pharma environment was just as unlikely).

Late last year I stumbled upon Amy Cuddy’s TEDGlobal speech about how our body language shapes the perception of not only those around us but also ourselves.  This brilliant woman had struggled with ‘feeling a fraud’ and was counseled to not fake it till you make it but rather fake it until you are it.

I ‘wasn’t’ an entrepreneur, or an author. Long before those choices I wasn’t in high tech, politics, Tall Ships, or boxing tournaments. All of those words, all those stories, put into communications practice because I discovered upon becoming a 17 year old tour guide in Niagara Falls that I could help people to understand things which were ‘foreign’ and unfamiliar to them. Yet, at the same time I felt a fraud in teaching 40 year old history teachers how-to be good tour guides.

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It’s too soon to know what ‘discovery’ the toddler ultimately takes from her predicament of this afternoon but perhaps the cheers received on earning her freedom formed a future Cirque du Soleil star.

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