” ….we don’t attribute orders to the emerging channels — we simply don’t have business rules to do this, so we attribute orders to the most established channels. But if we focus on influenced sales, we notice that channels like e-mail and paid search and social media play a bigger role, helping cause an order to happen.”
Got it - that’s one of the problems we have to overcome - we simply don’t have the Business Rules set up for MatchBack Attribution where Online Activity, perhaps, precursors (or Co-Enzyme’s according to me) are given credit - because the Business Rules aren’t yet developed to measure those things and assign a value to it.
If you follow the examples in Kevin’s post - and use attribution that he applies in this example - what we get is this:
Each quarter, we produce a table that illustrates, for each channel, direct attributed sales, and influenced sales.
Influenced sales make a huge difference in viewing a “mutlichannel strategy”. In the illustration above, e-mail, paid search and social media are key influencers. They do not get direct ROI attribution, but are clearly used by the customer as part of the purchase process. From a strategic standpoint, these channels should receive strategic attention. Or maybe catalog marketing should not receive direct credit for all orders!
I’m live blogging @ NYU using my 3G IPhone, forgive my spelling, grammer errors and lack of hyperlinks. I wrote about this lecture in my last post, and yes, I did decide to attend.
We’re talking about Etsy.com. Founder of Foundation for Peer to Peer Networking.
In 2003 if you asked “who do you trust”? You’d get the usual answers while in 2007, we trust ourselves more (people like myself).
P2P is undertaking relational, permissionless decision making. Now P2P can scale globally.
Strong Hierarchy without command and control, small groups to cooperate at a global level.
We’re reaching a point of self organization around common objectives.
New set of choices - 3 ways (Centralized, Decentralized, Distributed); example of civil society enable and empower creativity in a town in France.
Division of Labor, everyone can produce and there’s a peer to peer review process.
Individual self selects tasks and level of contribution. Transparent Process (WikiPidia). But you need open access to raw materials and the permission to use them. When costs of participation are low enough - new way of producing value (Wikipidia vs ), new way is hyper productive vs. The alternatives.
Innovation can only be competitive in the old way, in Peer 2 Peer, the default option is pasionfull participation (absolute quality).
Corporations can’t compete with Peer 2 Peer, when compared.
Social Change - when societies change it’s when the organizing (ruling) and production (working) changing together.
Sharing model - share your expressions, but the links are weak, and your platform is 3rd party.
Or, Wikipedia, where everyone is working toward a shared goal on the same platform.
Peer 2 Peer needs to be govern different. Peer goverence is not based on Market Scarcity.
But while this may work for Wikipidia, but will it work in building a car? Yes, as long as you design it first.
Open Source Car Projects. Peer Production as a model if what is coming next.
Ancient Roman Empire, moving from large scale production with slaves to a more localized product. But markets require scarcity.
In our society now we have a crisis of value; we can produce almost infinately but.. Much of it is not yet monitiable, and is becoming, therefore, unsustainable.
Rapid protyping shows means of production is becoming decentralizated. Relocalization of global production.
We can’t succeed without large scale particapation in Peer to Peer - Peer to Peer Society.
When Roman Empire fell, society had 500 years of local solutions via Midevil.
I was thinking about a paper I read today on Innovating Through Recession by Andrew Razeghi, Kellogg School of Management, which I heard about via @ecevents on Twitter, I attempted to Embed the paper here. By the way, I often think as I write - and the attempt to “marshall” the information (no pun intended on my first name) often leads to my flashes of insight - as I write. I can tell you right now this is going to be a long post - and furthermore - it’s worth reading it - all the way though, maybe a couple of times.
Gary thought me that if you have a Brand, and I do, it’s me, my Web Analytics and my Art,you need to work that Brand, and reply to every comment, and even as many tweets as your can - you need to show your open to conversation and having one. Gary Vaynerchuk even said that if you have a blog with 2500 visitors a month or more, you can turn that blog into an income of 4K or 5K a month, if your willing to build up the Brand - but it’s a lot, a lot of work. But it was always work. I wasn’t thinking about the money - but then again, I would not mind it. But at least, I know what I need to focus on - and it’s what I want to do, anyway.
… I was thinking about how parts of this paper would play into Social Media outreach and how we’d track it using Web Analytics and Buzz Media Tracking. I realize Web Analytics and Buzz Media Tracking are not the same thing - but I see them merging, eventually, done by the same team.
The first two points, “Listening to the Market” and “Investing in Your Custom is perfect for Social Media Buzz Tracking - think about it - if your not listening via Twitter, via comments on Blogs in the subject area your company or Brand it part of - ie: using platforms like Radian6 to identify influentialsls - you have few clues on where the conversation is taking place, what it is, and how you can reply.
Setting up a Profile in Radian6, SM2, Trackur, is not a bad idea, and having someone in the Analytics team, who works with Marketing and PR, is probably not a bad idea, either. The biggest problem will be knowing about issues, and problems that crop up in enough time to respond to them - if it’s no one’s job - it won’t happen - and right now, it’s usually no one’s job,and there are no tools being purchased - but the role might be sourced out to a Marketing PR agency - which is a bad idea - they are not your Brand, you are - and it needs to be a pretty senior type person who is part of the Brand outreach and response.
Recently, I was asked to weigh in on this conversation monster hoping to ‘reinvent’ industry and I noticed several comments - people are asking to engage - they want to hear - but does anyone think about how to go and answer every question that anyone has? But that’s what you’d have to do now - go out and engage with each one of them, on every blog, message board and social network they live.
That’s how you defend Brand today, in my opinion. To be honest with you, I’m not sure weather the product is really better or not, as much as it’s perceived people’s opinion is being listened to, considered, and acknowledged. But if the “product” really is better, people will more likely listen if the reviews are coming from all over the internet, and not just from the Brand, itself.
I could almost see crowd sourcing the response to employees, getting everyone involved - just give them a “press kit” of guidelines - appoint and editor - and let the employees go out there an answer - in mass - that would be the way to do it now, and Search Engines would love it.
That’s what I’d do, if I were running Social Media for a Brand (did I throw down the gauntlet?) Yeah, I did.
End of point 1 and 2 - in Innovating Through Recession by Andrew Razeghi, Kellogg School of Management listening was done, during the Depression and last few recessions, by having different ideas and trying them - against conventional wisdom, but today, with the rise of the Internet and Social Media, it could be done differently, still innovating, but getting feedback from the “Cloud”.
Sitting here and listening to a presentation on Adaptive Blue, a FireFox plugin that allows you to interact with content and shows what other friends have interacted with the same content. They deal with privacy by allowing for approval, and you can get rid of individual records you don’t want to be seen.
10gen and AlleyCorp - Kevin Ryan talks about his development enviornment, seems to have everything you need and is connected to the cloud. There’s nothing all that revolutionary here, but the single enviornment along with the cloud makes it interesting. Intact, Silicon Valley Insider runs on 10gen. Your getting relief from System Admin and Platform Gotchas.
Will at Cookstr - got interested in The Long Tail - publishing Cookbook Authors who would be shut out of the web, for various reason.
You can search on recipes by various criteria. Pretty much, this is a portal for recipes, and you can save your own recipes, etc; Social Networking part needs to be added, later.
Wee Web - for new parents, grandparents. Can’t say I’m into this website, service.
CO-OP is good app to share what you and your coworkers are doing. This product is good for teamwork, same people behind Harvest. Www.Coopapp.com.
The program attempts to showcpeople what everyone is working on now. It is a way to bond with your coworkers.
The program is good for showing what we’ve done, too.
Mixed Ink - allows groups to brains to brainstorm and create a joint document.
The documents are rated and updated in real time. Some great ideas here. This software was used for The Netropts Healthcare Plank that was covered in Wired recently.
Habitat Map - online tools to support community mapping, visualing what happens after you flush your toilot, for example, for example, you can find out where your trash is likely to go. Ha.
Good for overlaying maps, etc. Crowdsource knowledge
Good Presentations tonight. Going to the the TechSet party after this.
What about the future of the New York Tech Meetup?
An announcement is being made here, today. Over the 4 years the meetup has had several locations, with more and more and tech meetups.
7500+ members and more and more events. So much more is possible and to realize our potential, so the leader is stepping down.
A new board of directors and an elected organizer seeks to create a new organization that could, eventuallylaunch startups.
Build microsites based on Social Network profiles.
Michael: Use the Internet as the 4th branch of governent to monitor the vote.
The Uptake site.
Obama let 25,000 tshirt designs, he gave some info but let people build on it. “I am you”.
Green Color Economy, invest in Green Economy, create 5 million jobs.
Social Media Campaign Process
Determine objectives and find right channels, segments. Then Metrics are developed.
- webmasters, blog owners, social network admins, etc.
Shorebank case study - members of the bank that are content creators who were “enabled” to use Social Media more effectively. Created Electronic Press Kit, much more than a PDF file.
Essentially, the Brand needs to “create” and “enable” Social Media content that allows users to create User Generated Content that’s viral to sell a specific event.
Case Study of Bamboo by Wacom got AD:Tech award.
David: quit Yahoo! 8 months ago because he was tired of talking impressions and clicks; decided to go to ExpoTV and create new set of metrics.
The Consumer Voice Goes Beyond Technology. We have 280,000 videos that we never asked for. There are videos for anything that is available nationally.
ExpoTV: 85% of the videos skew positive while 15% are negative or nuteral; we don’t look at videos for sentiment but we do check them for profanity or syncing issues. We copensate for every video they upload ($2.00 - $5.00 per video).
Blogging a daily part of life, blogs are mainstream. BloHer - people are spending less time watching TV and reading blogs, instead.
Definstion of a Blogger is changing and Social Media has fundamentally changed the way we communicate.
Why are people “there”? Social Media, which used to be just a set of tools, now have changed how we communicate.
Also, most people in the Blogosphere consider their online friends as real friends. Many BlogHer bloggers blog for their children, to record the story.
If you look at most bloggers that are successful they are “driven” and they feel need to say what they are saying regardless of what they are paid, or not, and they’d write anyway; Heather Gold added, that is why people are interested ( Boing Boing, TechCrunch, Beth Kantor - who I recent met at Emetrics Summit DC ).
The Power to be Heard; The Evolution of Community. We still trust People.
How can you be TrustWorthy?
How you can represent youself as a person and still represent your Brand.
Fleishman Hillard - Blog Relations Case Studies
- Tamiflu case study - a blogger who was also a contending for American Idol, came down with the Flu and was offered TamiFlu and blogged about it. Target person who already had the flu.
- David Beckham RAZR2 Campaign - you need to offer not just the blogger, material, but their readers, too, so they can particapate and voice their opinions.
- Purdue Perfect Portions case study. 1.5 million consumer impressions, 59% of interested bloggers requested coupons, 50% wrote positive reviews. One blogger produced 2 videosinvolving cooking Perfect Portions with 2000 views on YouTube.
My Takeaways - this is another good session suggesting you need to think about bloggers readers, indentifying influential bloggers for a subject first, but thinking about the end goal, all the while.
What criteria do you use to identify influntials?
I came up with an idea of a method by which you identify a community where the blogger is in, then do additional research to find out how influential a blogger/blog are in that community (that might require offline data).
Fleishman Hillard uses Collective Intellect, Radian6, one other tool I can’t recall the name of, and a inhouse tool that rates a keyword against it’s use in an online community.
While writing this post, my thoughts go back to Radian6. I got an email on Sunday, that was very untransparent, not well explained, offering to cleanup free accounts, including mine. No reason or advanced warning was given, though one could guess, the reasons might be tied to new partnerships Radian6 just entered into, which might suggest they no longer wanted or needed blogger feedback …. But they did not explain any if that (the real story, in my opinion).
So, until this week, I had access to Radian6, and while it was a good product, Radian6 didn’t really provide data to me in structured way that could be most useful to a Web Anslyst.
Nevertheless, I’m grateful for the 6 months, I had use of it.
Yet, one thing does bother me about the Radian6 “cleanup” of accounts, and to me, it’s somewhat representative of many Social Media firms, who, while they claim to provide excellent tools, including Radian6, still don’t communicate well, openly, honestly and are not as transparent.
In the case of my “account” and their “cleanup”, Radian6 didn’t explain why they were doing it, if it applied to all of the free trials they set up, or just some of them, or what the criteria was, in order to make those choices. That bothers me.
It means, as far as I can tell, Radian6 failed to practice openness, that they designed their tool to “monitor”.
I’m my case, Radian6 allowed me to use their platform to monitor other people’s conversation, but did not
have time or organizational will, to have a conversation, with me. I see that as an unfortunate oversight, a mistake.
Compete.com made a similar mistake, several months ago, but once they realized it, quickly changed course.
Compete engaged in conversation, and, they listened.
Providers of the new social media platforms and tools, sometimes they fall into talking the talk, without “walking the walk”, they are not transparent about motivations or communications (with Bloggers?). Compete got it right, so far, Radian6, didn’t.
But in Social Media, should not a Social Media platform provider be good communicators too?
It appears not to be the case, all too often, but then, you could say the same thing about Web Analytics providers, and even the WAA, whose Board, I sit on.
And, Isn’t that what it’s all about?
Perhaps the old saying “the first will be last and the last, will be first” applies here, too.
I believe, we (and I include myself here, as a WAA member) who provide the “tools”, who embody “the way”, we need to also practice openness, transparancy AND, in the case of Web Analytics, the ability to “measure” and provide “insight”, that our audiences have the right to expect of us and hold us accountable for.
Enough said, missing the next session while expressing myself on this one.
I’m at the Tribecca Grand Hotel today at the Marketing & Online Communications conference.
Designing for Conversation 9AM - 10:10 am
Heather Gold - she’s happy about Barack Obama, he knows a lot about having conversations and still holding your own opinions; also, she’s gay and due to the close vote in California,if she’s still married.
Also, Howard Greenstein who I know from Social Media Club, is speaking, as well. Started the WAC group in 1994, Howard is a veteran of the beginnings of Social Media on the Web.
Organizing online communities is more than just using the Internet as a Black Box (saying, “my friends”)(cited Hillary Clinton as using social media but killing the conversation).
What Obama did wasn’t so different than what we do in our daily lives. Ann went to spend her election eve party with her Black friends, because of what it means to Africian Americans.
Many watering holes and different connversations around each one.
In fact, the container for a conversation(s) is a person, you need a human face to an organization.
Ann Ferdleson has her own company, sees marketing as about relationships. The topic moved to Twitter, she said she used Twitter to keep her family updated.
Twitter limits you to 140 characters, nut does not really tell you much about feedback fully, but is a step in the right direction.
Mary Lou Floyd - from BT. Figure out what people care about, first. But, there was no management and hosting of the conversation.
Obama’s Campaign was amazing as a marketing. He allowed people to communicate back through multiple channels.
My Takesways from this session are that building online communities involves multiple conversations around different “watering holes” about what people care about, and allowing for response along multiple channels.
Internet Usage in United States
United States Population: 303,824,646
Internet Usage: 220,141,969
Penetration rate: 72.5%
Growth from 2000-2008: 130.9%
Stats from Internet WorldStats (Census, Nielson) Facebook
Obama: 2,379,102 supporters
McCain: 620,359 supporters
YouTube
Obama: 1792 videos uploaded since Nov 2006, Subscribers: 114,559 (uploads about 4 a day), Channel Views: 18,413,110
McCain: 329 videos uploaded since Feb 2007 (uploads about 2 a day), Subscribers: 28,419, Channel Views: 2,032,993
Obama has 403% more subscribers than McCain
Obama has 905% more viewers than McCain
Twitter
Obama: @barackobama has 112,474 followers
McCain: @JohnMcCain (is it real?) 4,603 followers
Obama has 240 times more followers in Twitter than McCain
Community Platforms/Branded Social Networks
MyBarackObama: I was unable to find total number of registered members (anyone have data?)
McCain Space: I was unable to find total number of registered members (anyone have data?)
I mean, overall, Obama had 4 times more presense in Social Media than John McCain.
It seems to me Social Media and Web 2.0 are becoming more vital, perhaps even the centerpiece of campaigns, going forward:
“…..drawing on Mr. Obama’s background as a community organizer, his campaign decided early on to build a social network that would flank, and in some cases outflank, traditional news media.“
“.. Many of the media outlets influencing the 2008 election simply were not around in 2004. YouTube did not exist, and Facebook barely reached beyond the Ivy League. There was no Huffington Post to encourage citizen reporters, so Mr. Obama’s comment about voters clinging to guns or religion may have passed unnoticed. These sites and countless others have redefined how many Americans get their political news.
When viewers settle in Tuesday night to watch the election returns, they will also check text messages for alerts, browse the Web for exit poll results and watch videos distributed by the campaigns. And many folks will let go of the mouse only to pick up the remote and sample an array of cable channels with election coverage — from Comedy Central to BBC America.”
Could it be, that besides having more to day than McCain, Obama had a lot more avenues to say it?
While viewing the NYC Marathon in Williamsburg, yesterday, and listening to Nikki Shannon and her band play, while waves of runners past, I had a glimpse of an idea, not sure if this has been done yet, but parts of it already exist.
To begin, many artists, of all types, have lousy websites that aren’t found easily in search engines. Even worse, manyof those same sites have lousy usability issues, and, there’s little if any web analytics tracking.
There are a few web services such as Pandora, Genius from Apple, I believe, iLike; these services a built to figure out music you like, play more if it, and hope you buy some of it.
Also, services like Upcoming, Yelp, to some extent Facebook, MySpace and other Social networks connecting events and friends. Social Networks like Going.com and Meetup.com want to figure out what you like and match you up with a group or event, Going is more focused on event promoters than on you while Meetup is becoming annoying in it’s attempts to sell me on every new meetup that meets what it thinks I’m interested in.
But what connects up a group like Nikki Shannon, who a friend of mine said sounded to her like Sheryl Crow, and a Pandora preference for that kind of music?
Maybe I missed it, but I don’t see anything that does that.
So, let’s say that I have Pandora (if it doesn’t go out of business, first), it knows what I like, knows where I live or am at the moment, knows what I am prepared to pay, has clips of the artists and information about the venue.
Most of this stuff exists, but it lives all over the web, not in one service, and even if it did, not well.
My point is, in this era of economic contraction, innovation may come not so much, from inventing new things, as much as making what we already have done, work well ….. Connecting the Dots.
“… Facebook’s growth, thanks to all these user-created translated versions of the site, has probably exceeded even their own internal projections. And running this engine isn’t cheap.
The company is likely spending well over a $1 million per month on electricity alone, say experts we’ve spoken with. Bandwidth is likely another $500,000 or more per month on top of that. The company has earmarked $100 million to buy 50,000 servers this year and next. And sources say they’ve been buying one NetApp 3070 storage system per week just to keep up with all this user generated content. At up to $2 million each, that adds up quickly - we’ve heard estimates that they may have spent as much as $30 million this year alone with the company. And the icing on the cake - earmark another $15 million per year in office and datacenter rent payments.
And don’t forget those human assets. With 750 employees and growing, Facebook is spending at least another $10 million per month on payroll.
It costs a couple of hundred million dollars a year just to keep the lights on at Facebook. But the real problem is keeping up with growth, particularly storage needs. Add another $100 million or more per year for capital expenditures, and you’ve got a company that’s doing exactly the opposite of printing money.”
But that’s my point - Facebook is too much a part of what is happening today to be left to fail - so I’m not worried about Facebook falling on it’s face - I’m more worried about the rest of the world falling into a financial depression, and what that is going to look like and be like, to live though.
I do think Facebook will need to become more profitable, though - and that means developing stuff people will buy more of - and at that, in an environment when people are spending less and less.
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