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
Advertisements

Tag Cloud Blog Experiment: Netflix Case Study

http://www.bigberries.com/category/digital/page/3/

Courtesy bigberries.com

How do bloggers measure their writing, article effectiveness, viral marketing power, and popularity with readers? Comments from readers and blog traffic can only provide a margin of insight into your effectiveness. Clive Thompson’s great New York Times article “If You Liked This, Your Sure to Love That” describes an interesting contest hosted by online movie rental company Netflix.

Netflix Offer

Netflix is offering anyone the opportunity to win a $1,000,000 prize. The challenge is to increase Netflix’s Cinematch it’s recommendation search engine. The engine suggests movie titles to consumers based on what they have chosen in the past. Netflix will pay out the cash prize to anyone who can increase their search accuracy by 10%. The leaders in this contest and their progress.

Netflix Problem

Statistical analysis and algorithms do not account for a genre of movies that have been described as quirky or unpredictable. The effect is called the “Napoleon Dynamite Problem” because it is said that this type of movie is either loved or hated by it’s viewers. Very little middle ground exists or gray area of preference.

Blogger’s Measurement Experiment: Posit for Answers

According to the article, Netflix is considering the following experiment:

“. . . hiring cinephiles to watch all 100,000 movies in the Netflix library and write up, by hand, pages of adjectives describing each movie, a cloud of tags that would offer a subjective view of what makes films similar or dissimilar. It might imbue Cinematch with more unpredictable, humanlike intelligence.”

Posit: How We May Learn

1. Bloggers set up a tag cloud for each individual blog article rather than for an entire blog’s library

2. If that can be done, the next step would be to ask readers to provide 3-5 adjectives that describe the blog article they just read.

3. Tag Cloud information would give bloggers an idea how readers perceived the value of their article and provide the following benefits:

3 Measurements Benefiting Bloggers

1. If a blog reader likes one article what other articles in your blog library would they enjoy?

2. Internal blog linking and construct could be improved if the blogger understood synergy between their articles

3. Don’t just rely on Categories as predictors for synergy between articles

Final Analysis and Acknowledgements

Netflix realizes that their best method to answers is to measure a social network: “It might imbue Cinematch with more unpredictable, humanlike intelligence.”

VijayKrishna

Thanks go to Vijay Krishna who alerted me to this information on Twitter.com: a fantastic social media site that provides 80% of my research data. You can find solid information by following Vijay on Twitter . Thanks also go to New York Times writer Clive Thompson for his insightful and wonderful piece on this challenge. Thank you Clive!

Realtor’s Guide to “Return On___”: Make A List And Measure Your Results

One of the most widely recognized business measurements is “ROI” aka “Return on Investment.” As defined by Forbes media company Investopedia “A performance measure used to evaluate the efficiency of an investment.”

When you consider your career and your social life you can use the “Return On” formula to measure your success, progress, and results for any aspect of your life.

Exercise for ROI

Write down a list of terms beginning with Return On__. Start and go through the alphabet in order creating a Return On__ for each letter. Imagine each word you use as a measurement for performance in your business or social life.

The gurus at valuebasedmanagement.net assert that “Net Income” our value for Net Results “is an unreliable corporate performance measuerment, the outcome of the formula for ROI must also be unreliable to determine success or corporate value.”

Although this is true we can still apply ROI measurement to our business and social lives if we determine the value of our personal “Net Results” the corporate world’s measurement for Net Income.

5 Factors That Determine The Degree To Which “Economic Value” aka our personal “Net Results” May Be Overstated by valuebasedmanagement.net

1. Length of project “life” Ex: Realtor’s time spent at open houses
2. Capitalization Policy Ex: Amount of time it takes to write a blog article
3. Rate at which Depreciation is taken Ex: Stale print ad messages as main lead generation tool
4. Time between investment outlays and recoupment of these outlays from incoming cash flow Ex: Time spent blogging before lead generation begins
5. Growth rate of new investment Ex:Time to launch and write a blog vs marketing exposure