Not all eyeballs are equal

Seth Godin, as always, has a way of putting things into perspective. In this case, he questions all the hullabaloo about friends, fans, and the social media audience. What is the value?

Fans, participants and spectators

A good preacher ought to be able to get 70% of the people who showed up on Sunday to make a donation.

A teeny bop rock group might convert 20% of concert goers to buy a shirt or souvenir.

A great street magician can get 10% of the people who watch his show to throw a dollar in the hat.

Direct marketers used to shoot for 2% conversion from a good list, but now, that’s a long shot.

A blogger might convert 2% of readers to buy a book. (I’m aghast at this).

And a twitter user with a lot of fans will be lucky to get one out of a thousand to click a link and buy something. (.1%)

Likes, friendlies and hits are all fast-growing numbers that require little commitment. And commitment is the essence of conversion. The problem with commitment is that it’s frightening (for both sides). And so it’s easy to avoid. We just click and move on.

I think there’s a transparent wall, an ever bigger one, between digital spectators and direct interaction or transaction. The faster the train is moving, the harder it is to pay attention, open the window and do business. If all you’re doing is increasing the number of digital spectators to your work, you’re unlikely to earn the conversion you deserve.

Thanks Seth. This brings to mind that business is essentially relationships, and that all the rest (you know, like communications and marketing) is about nurturing those relationships so that a commitment is possible.