Yesterday I participated in my first TTMM event, and spoke on ROI. Like any first contact situation, you know they have their points of view, value systems, and language. And the least you can do is have knowledge of why you think the way you do, and why. I told the story about how different versions of ROI is rooted well before anybody in the room had been born. And it’s such a contentious issue because it goes directly to one’s being. ROI is the reflection of your own worth to an organization, and naturally, as such, it’s going to be contended. The approach taken in the Syncapse Value of a Fan study was selected for a very specific reason[…]
Category: Marketing Science
Certain technologies bring about changes in customer behaviour. I’ll state that while not every behaviour-changing technology is profitable (from the beginning or ever), aiming to change a behaviour is more likely to result in a profitable technology. It’s relatively easy for me think of such technologies. Bronze, printing press, and internet are the three that come to mind most easily. The incremental evidence of benefits is what caused them to be adopted. That adoption, for those benefits, resulted in changes in their behaviour. We generally like to believe for the long-term good, though, for every social action there is a reaction. The environment didn’t benefit from bronze wielding humans too much. Certain factions certainly didn’t benefit from the press. And,[…]
I’ve been heads down with the team for awhile pounding out a study examining the value of a Facebook Fan. The results of that study were presented at Internet Week on Friday morning and can be downloaded here. I have hopes. I hope it throws some wind into the sails of people who are doing good social media marketing strategy. Absolution is frequently sought in simple numbers. The importance of activation strategy should be very clear in the charts and text of the paper. The second is for the lack of misquotes. It would be really nice if it wasn’t misquoted. The third is that I hope you’ll find it useful. In sum, take a look, and feed on back.
So just what have I been up to? I’ve been dividing my time between a major initiative and product development. Much of my involvement revolves around Evidence Based Marketing – and it’s literally that deadly. It’s that level of sustainable competitive advantage. It’s like a Philosoraptor armed with an RPG, riding a shark. Yeaaaaaaaaaaah. The most interesting aspect has been the integration of measurement science with information architecture with development with creative with product development. There are continuous collisions between the desire for intuitive simplicity with utility with robust functionality with elegant design with data accuracy – all within budget and a desired launch date of yesterday. The best business models are those which you solve a problem for a[…]
I’m increasingly disturbed by the accuracy of Topic Bearing Word of Mouth (WOM) algorithms. A previous study, published in this space, expressed dissatisfaction with standard sentiment analysis. My mind has since turned to the difficulty in expressing massive amounts of WOM into simple metrics that are actionable and decomposable. So let’s just go beyond the realm of evidence based pre-optimization of marketing messages, and set the entire area of sentiment-bearing word polarity aside for awhile. It’s relevant and important. Just not the focus tonight. Let’s turn to topic bearing WOM. Imagine you could listen to the world, and assume that Burke’s reality is now…a reality. If you haven’t seen the video from my ‘about’ section – here it is again.[…]
I’ve just learned of eScience as a result of a book entitled “The Fourth Paradigm”. While I don’t have that much to say about the essence of the Fourth Paradigm yet, I have to admit that I feel immediately at home with this group within eScience. One of the best quotes in the book is: “Need driven versus curiosity driven. Basic science is question driven; in contrast, the new applications science is guided more by societal needs than scientific curiosity. Rather than seeking answers to questions, it focuses on creating the ability to seek courses of action and determine their consequences.” Substitute ‘societal needs’ with ‘business needs’, and I have myself a nice bridge between eScience and commercial eScience. I[…]
I published seven axioms over the past week – in a not so humble fashion. I’m taking the James Burke line to heart and just putting it out there. The Seven Axioms are: 1. The purpose of analytics is to derive competitive advantage for the organization / firm / entity. 2. Data alone does not yield competitive advantage. 3. A sequence of progressive hypothesis testing is the most efficient and effective method to derive competitive advantage from data. 4. Predicting the future requires an understanding of cause and effect. 5. Correlation is not always Causality. 6. Accuracy over Precision. 7. It is possible for there to be two optimal, equally true, answers to a problem. (And Sometimes More!) (X^2 =[…]
A tight group of friends will tend to overlap in terms of product adoption and preferences. Like people clump alike. I hypothesize that the social graph is partially-fractal. I use the word ‘hypothesize’ because I don’t have the technology to prove it. Moreover, at this point, I don’t think I could write the proof to prove that it’s partially-fractal. By fractal, I mean that at the most basic level, the individual with a circle of friends, they’re all alike. If you zoom out, treating each group as though it’s a person, they’re all linked together in a similar way, and if you zoom out again, treating each groups of groups…the structure is the same. In other words, the further you[…]
It’s been a busy week in the world of social media measurement, or social analytics, as I like to call it. Anna O’Brien, Marketing Science analyst extraordinaire, wrote a very good post on the topic. Her primary point, enough with the phony people, is polarizing and necessary. The secondary point: social monitoring is not social measuring is also apt and important. My interests like in the measurement side: content analytics and metric analytics. There’s a lot of utility there. A few months ago Joseph Carrabis did a very interesting sentiment analysis on Zappos’ twitter stream. “Tone optimization” will no doubt end up being a major offering sooner rather than later. Let me explain. Optimizing a web campaign can be very[…]
I had a great conversation with a producer of Canadian film and television. Over the course of our discussion, which focused on the lack of money for the Canadian Film and Television Industry, I came to realize that there was a fundamental problem in monetization and a pretty hefty gap in motivators. Success for a director or an artist is if a large audience sees their art and appreciates it. They don’t want commercialism to get in the way of their art – for instance – the mere notion that perhaps the protagonist could be drinking a Diet Doctor Pepper causes the blood to boil. Naturally, history is littered with studio and network executives actively messing with the creative arc[…]