Time tracking is a fact of agency life. You do some work, you record your time. This is logical because you’re charging by the hour: tot up the hours done at the end of the month and you can send an invoice.
But time tracking is something that in-house marketers seem to have never got on with. Surely the only point of doing it is for management to monitor how long your tea breaks take?
If they introduce time tracking, what will the next step be? Rationing of biscuits? A maximum number of loo breaks?
This idea misses something very important: for some activities tracking time is the only way of measuring and improving return on investment.
And at the end of the day, that’s what your boss (and his boss) care about.
Groupon’s eclectic CEO Andrew Mason is fighting for his job, and his company is fighting for its life.
One of the fastest growing companies ever, the daily deals behemoth’s decline is happening faster than its rise, creating an interesting spectacle that will one day be ideal fodder for MBA students, if it isn’t already.
Pinterest is one of the hottest and fastest-growing social networks in the world, and therefore it’s no surprise that a growing number of brands are making the image-centric service a part of their social media strategy.
But up until now, their activities on Pinterest have technically been in violation of the service’s rules, which forbade commercial usage.
Foursquare has been on the list of candidates for the ‘next big thing’ for some time, but the location-based service’s future seems uncertain.
Last week, reports surfaced that the company, which has already raised upwards of $70m in funding, was looking for investors to provide an additional $50m to $100m of capital at a valuation of $700m-plus. According to TechCrunch, investors aren’t exactly rushing to check in to a deal.
Despite speculation that it might have the opportunity to develop a revenue model in which users pay directly for their use of its service, Twitter has made it clear in the past couple of years that it’s going to make its money with advertising.
Only time will tell if that proves to be a wise move, but for those of us who wonder about what might have been, a similar service in Asia may provide an interesting case study.
Google’s acquisition of YouTube may prove to be one of the savviest in internet history. Although some believed it appeared rich at the time, ask any of the companies that could have purchased Facebook for $1bn-plus less than a decade ago, and they’d probably tell you that sometimes, eleven figures is cheap.
But a big part of the reason YouTube has been so successful following its acquisition by Google is that the search giant continues to invest heavily in its development. The company is working with Hollywood to produce original content, and has made great strides over the years in inking licensing pacts with content creators.
Doing the right thing long-term isn’t always easy for companies. Just ask Alibaba.com, China’s ecommerce giant.
Last quarter, the company made some strategic changes to its business model, and focused in on improving the quality of its marketplace. The result: slower growth which, combined with higher expenses, contributed to a 25% drop in net profit.