Entrepreneurs and Companies: Peter Kim Your Guide Through Social Media Terrain

Recently I introduced Peter Kim to our readers, for some he was already a part of their regular reading, with the hopes that he could shed light on social media, measurement, and the trends that are developing. Including Patrick Kitano of Domus Consulting Group, Chris Brogan, and Guy Kawasaki, Peter Kim is one of the most important new thought practitioners of our times.

Who is Peter Kim?

Peter Kim is one of the most important architects of social media and a well respected social media expert. Peter is considered an expert in the art and science of “the intersection of social technology and marketing strategy.” He has been quoted by the most prestigious press organizations from the Wall Street Journal to CBS Evening News.

10 Articles Worth Your Time

At the end of each month, Peter performs his traffic analytics to see what was the most well read articles for that month. From this exercise, comes Peter’s Top 10 Content list. If you are a entrepreneur, small business, large corporation, or job seeker looking to move your message of value forward then this is a list that will provide great value:

  1. A List of Social Media Marketing Examples
  2. Social Media Predictions 2009
  3. It’s Time To Transform
  4. Why Web 2.0 Still Matters
  5. Reputation Matters
  6. How to break free from the echo chamber
  7. A framework for measuring social media
  8. Now’s the time, the time is now
  9. The need for services in social technology
  10. How to set an ego trap

Entrepreneurs and Corporations Measure the Impact of Social Media

Today 105 major corporations, more adopting everyday, have corporate blogs that engage their audience, tell their story, deliver their value, and offer a place for insight. Entrepreneurs are at the forefront of this evolution. In addition, many of these corporations are adopting social media tools like Twitter and Facebook as tools to help create audience and “evangelists” for their products and services. The following are steps provided by Peter Kim on how to measure a social media campaign.

Peter Kim is one of the most important architects of social media and a well respected new thought practitioners. Peter is considered an expert in the art and science of “the intersection of social technology and marketing strategy.” He has been quoted by the most prestigious press organizations from the Wall Street Journal to CBS Evening News.

In Peter’s article “A framework for measuring social media” he outlines four concepts that provide the framework for social media measurement or ROI:

1. Attention: “The amount of traffic to your content for a given period of time.  Similar to the standard web metrics of site visits and page/video views.”

IA: Your readership can vary in many ways and although measuring number of readers and page views is quite telling, average time per visit is a major factor. Simply put how long a person stays on your site reading your content can be indicative to your content’s value in the eyes of your readers.

2. Participation: “The extent to which users engage with your content in a channel.  Think blog comments, Facebook wall posts, YouTube ratings, or widget interactions.”

IA: Key is a users willingness to engage with other users on your site. The comment section for each blog post has the potential to become their own mini “forums.” Within these forums your readers debate your content, collaborate, and communicate freely. One of the best examples of this is on ChrisBrogan.com another social media expert.

3. Authority: “Ala Technorati, the inbound links to your content – like trackbacks and inbound links to a blog post or sites linking to a YouTube video.”

IA: Although Technorati is the most well known inbound link measurement site, it is often not as accurate as Google. Peter is right on the money here with the fact that your trackbacks and inbound links are absolutely critical in measuring your content’s effectiveness in attracting readers.

4. Influence: “The size of the user base subscribed to your content.  For blogs, feed or email subscribers; followers on Twitter or Friendfeed; or fans of your Facebook page.”

IA: Attracting subscribers means you are producing excellent content. Yet in some cases, the subscription numbers can be “infected” by misleading subscription growth trends based on inaccurate numbers.

Realtors Do You Understand the 5 Levels of Twitter Acceptance?

One of the best tools for measuring your commitment and understanding of the micro-blogging power Twitter.com comes from social media marketing superstar Rohit Bhargava the inventor of Social Media Optimization. In his article “The 5 Stages of Twitter Acceptance” Rohit has brilliantly and accurately outlined the evolution of many Twitter users. The graphic clearly highlights each stage and it acts as a measuring tool to those who have progressed forward in their acceptance.

The 5 Stages of Twitter Acceptance:

Imb_5stagesoftwitter_2
Courtesy RohitBhargava.typepad.com

My Acceptance Process for Each Level

1. Denial: One of my first blog posts of the summer of 2007 was to challenge Twitter’s validity as a tool-I instead described it ” Twitter becomes the equivilent of your well meaning but very nosy “Italian Grandmother.”

2. Presence: I simply went through the motions

3. Dumping: I inundated twitter with MY BLOG POSTS only a big no-no on any social networking site

4. Conversing: I reached the conversing stage 6 weeks ago as I really began to understand Twitter’s power 4 months ago. In this stage I knew I was progressing but I also knew something was missing-I was not a go-to objective source of information

5. Microblogging: I am now authentically building relationships 1×1, I am bringing in valuable information to the mix for other twitterers to ponder, and I am far more objective and willing to support the community

Lie Detector For Bloggers or Another Guesstimate: urlmetrix.com

Looney Tunes opening title from mid-1950s.

Courtesy Looney Tunes Wiki

Chicago Sun-Times published this deansguide article September 23, 2008

The challenge: finding a traffic measurement tool that will allow a person to accurately analyze a blogger’s traffic or company website’s traffic.

The reason: Bloggers and companies make outlandish, blatant, and false claims of traffic (page views and uniques) that just do not pass the smell test. When a person is attempting to control their budgetary expenses when attending networking events, one of the best methods is to perform due diligence on a blogger, SEO expert, or someone claiming to have lots of traffic.

Urlmetrix.com is a fun and handy tool, powered by Google App engine, that provides measurement for many statistics for your blog. By simply placing your url into the search box, urlmetrix.com retreives 15 site statistics that provide a blogger with information vital to their efforts.

Warning

Many of the sites in this measurement tool utilize statistics derived from toolbar downloads, extrapilated projections, and statistical sampling. No tool to my knowledge gives precise statistical information on blogs. If anyone has a set of better tools please let us know. One of the most difficult problems is verifying a sites traffic when they make claims of page views and uniques that seem far from realistic.

urlmetrix.com’s Returned Results (for my outside blog) deansguide:

1. Title: deansguide

2. Alexa Rank: 346,275

3. Compete Rank: 38

4. Quantcast Rank: 266,768

5. Technorati Rank: 433,097 Authority 16/ Google 80

6. Google Indexed: 991

7. Yahoo Indexed: 1,720

8. Google Back Links: 132

9. Yahoo Back Links: 4,100

10. delicious book marks: 2

11. Wikipedia External Links: 1

12. DMOZ Links: 0

13. Google Blog Search Links: 80

14. Technorati Blog Reactions: 72

Analysis

urlmetrix is a quick tool that gives a blogger measurement, pinpoints areas that need work, helps bloggers discover their strengths and weaknesses, and it allows bloggers to compile this information in seconds without having to download any one toolbar for access.

Bay Area Business Woman Publisher Debra Costner Hails Susan Hanshaw’s “Inner Architect” As The Tool To “Build Your Life From The Inside Out”

Welcome to the new Bay Area Business Woman!

Debra Costner, Publisher

Bay Area Business Woman publisher and editor Debra Costner is a no nonsense businesswoman living her “purpose.” In one of the best book reviews to date, Ms. Costner described “Inner Architect: How To Build The Life You Were Designed To Live” as:

  • “It is not a book about living life or changing careers-it is in fact an exquisitely detailed workbook taking you through the process of a ‘personal revolution’”
  • “The many exercises, including identifying your trust issues, creating new beliefs about money, choosing to believe in yourself and trusting your instincts really hit the mark in identifying what keeps so many from finding success”
  • “Inner Architect is able to guide you through any life-altering modifications you feel compelled to make. The book could work to define a new health plan, improve personal relationships and of course develop a new business plan”

As Costner notes this book is for “. . . those who truly feel they need a change in direction, or want to examine their current situation and are ready for transformation.” As Susan advices “we are in an evolving state of becoming.” When you feel challenged by change and transition remember “When you have serious doubts, consider what regrets you might have if you don’t give your leap a full chance.”

Examples You Can Accomplish

1. Change your career direction create a purposeful path

2. Create new beliefs about money; letting go of the fear of the loss of the paycheck

3. Build the confidence to start a new exercise health plan

4. Improve your eating habits

5. Build and improve personal relationships

Realtors “Measure” Your Success For An “Unfair Advantage”

FoxBusiness.com published this deansguide article on August 5, 2008

Guy Kawasaki talks about the differentiating factor in a business being that businesses “unfair advantage.” The one person, product, or service that nobody else in the niche or industry can duplicate or “touch.” This must be quantifiable and measurable in order to illustrate the true value to the market.

Lawyers measure their success, in many cases, through their percentage of wins in the courtroom. Professional baseball players measure their success through their batting average or wins. Chefs measure their success through restaurant reviews and Michelin stars.

Here Is The “Salesperson’s Problem

Unfortunately sales people often measure their success by pointing to their sales volume, innocuously siting vague buzzwords like “value add” and attempting to push the idea they are experts without providing any objective outside source for validation

Examples of “Old School Hard Sell” Measurement

When Realtors utilized their promo, marketing, or ad materials they often site the following “reasons” for consumers to blast down their doorway:

1. Sales Volume: Sales volume does not equate to salesmanship, customer service, or expert knowledge. Selling big volume can be, and has been in many cases, the product of nepotism, favoritism, smoking white hot markets, and the always present hard work

2. Top Producer: Brokerage top producer logo’s and marketing materials are an attempt to impress consumers by showing experience and effectiveness WITHOUT really showing anything of detailed substance

Top Producer “tags” are only relevant to a consumer if you can negotiate a great price to sell their home or help them buy a home. It is more relevant if you can show properties before they hit the market or warn the consumer about a problematic area

Differentiate Through Measurement?

1. Find Measurement: Find a stat that consumers can understand and appreciate. One that they find value in and believe is helpful to their needs

Differentiating Measurements

1. Sales Dollars Below Asking: Why not keep a running spreadsheet on sales dollars below asking? Or find a measurement that will describe your ability to negotiate and save your clients money

2. Go-To Source Before Market: Can you find great properties and offer a full list of properties no other agent can offer to consumers? Can you do this prior to the property coming on the MLS? Can you be perceived as a go-to source of information? How about a stat you keep of the number of properties you sold that were not on market as a method of showing your ability to bring more to the table?

3. Transaction Savings: Is their an affiliate relationship that you can leverage that brings dollar savings to your clients? If so can you total the dollar amount into an impressive measurement tool that shows how consumers benefit by doing business with you?

Understand Your Readership Tool #1: Alexa.com A Free Method To Understanding Your Marketing Power

The key to online marketing through blogging is understanding how your efforts are working to bring in new leads, sales, and effective viral awareness. One of the best tools of measurement is Alexa.com and it is free!

Alexa.com

Computes traffic rankings by analyzing the Web usage of millions of Alexa Toolbar users and data obtained from other, diverse traffic data sources. Information is sorted, sifted, anonymized, counted, and computed, in order to come up with an accurate computation of your blog or website’s traffic statistics.

Traffic Stats

1. Traffic Rank: based on 3 months of aggregated “historical” statistics it is a combined measure of page views and users (reach)

2. Reach: Reach measures the number of users. It is typically expressed as the percentage of all Internet users who visit a given site

3. Page Views: measure the number of pages viewed by your visitors. Multiple page views of the same page made by the same user on the same day are counted only once. Hits mean nothing and should not be considered accurate or even worthy of discussion

Alexa Tools

Alexa Toolbar: This tool when loaded on Firefox provides meters that measure Reach, Traffic Rank, Traffic Trend, and Related Links

Search Engine: This tool searches any input and returns numbers for any given blog or website

Traffic Graph: The most useful tool. This graphs all the stats in increments from 7days, 1month, 3months, max. It allows you to compare your site to 4 other sites traffic and then graphs it. In addition you can download a widget to your site showing your Alexa numbers.

Global Information: here if your site has accumulated enough traffic and data, Alexa will return your numbers globally and how you rank within the US.

deansguide.wordpress.com Alexa rankings as of 6/24/2008: 109,416 (up from 105k last week) in the US and 358,548 (up from 350,233 last week) overall. I receive 75.8% of my traffic from the US and the rest outside. For