Size Does Matter!

December 24, 2007 - Get free updates of new posts here

Ladies! All 5 of them that read my blog you know what I’m talking about.

The size of the lever is what I am really talking about.

link to photo

Last Tuesday I spent nearly 5 hours coding some stuff that had an ROI or return value of so low it’s embarrassing I spent that much time on it. I started thinking about it and talking with another friend about hitting the BIGGEST/LARGEST levers. There are TONS of things to do all day but spend it doing the ones that produce the hugest ROI.

How does this help me Noah? So you are thinking about some new marketing strategies. You are not sure what to do. Should you:

a) Try to improve your invitation conversions 1%
b) Try out a new feature to increase invites
c) Go have a beer and watch Law & Order: SVU

It depends on your objectives and if you are really sending 10 trillion invitations a day. But overall you should go for the big things and later come back to the small stuff afterwards. Are you spending your time doing the biggest ROI?

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9 responses to “Size Does Matter!

  1. Rachel Reply

    Size matters but never discount technique. Make sure you’re pulling the biggest lever the right way, Mr. Noah.

    Also, I may have missed the point but I would totally pick option C.

  2. David Ulevitch Reply

    You’ve ignored the natural human tendency toward hyperbolic discounting.

    Success goes to those who can resist the urge to view ROI and success through the lens of hyperbolic discounting.

    -david

  3. Lisa Reply

    I’m a lady and your photo gave me a great chuckle! On the time vs. ROI — you couldn’t be more right. But sometimes it’s hindsight that’s 20/20. Some efforts take repetition to produce results. So the question might be, how do you know when to drop something and move on to the next? On that topic, I just gave Seth Godin’s “The Dip” as a look – might be of interest to your reader’s,, too.

  4. Nicole Price Reply

    That pic is a gem. Where do you find such stuff?

    It is difficult to know initially whether what you are doing will give better ROI than another thing that you are not. So its mostly about taking a calculated decision and being flexible in your approach to adapt to changing circumstances.

  5. Edward Reply

    That’s huge! Too bad it’s only half of mine :mrgreen:
    Well, I would go for option B, people get fed up with old stuffs so new features are vital to get a better ROI

  6. Bree Nguyen Reply

    Hmm, you only have 4 girls so far, where is that 5th?

    If I see a project that has no immediate effect on ROI, I look to see how that project can be used as a building block for something that will lead to ROI and justify the time spent across a big picture plan.