Measuring Influence and so Attention – New York Times

April 23, 2011 at 6:06 am · Filed under Adoption, Analytics, Business Intelligence, Innovation, Interaction, Marketing, Measurement, Media, Network Effect, Relationships, Social Computing, Social Media, Social Objects, journalism

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The Attention Economy and Klout

April 20, 2011 at 9:49 am · Filed under Adoption, Business 2.0, Business Intelligence, Business Model, Innovation, Innovator Interviews, Measurement, Media, Paradigm, Relationships, Science, Social Media, Trust, Trusted Space

In the old economy that still lingers you could buy “Attention”. A large advertising budget could force you into the minds of others. But we are becoming numb to this assault. Increasingly we only trust people that we know. “Attention” is shifting from the Institution with the budget to the “Person” with personal reputation or “Clout”.

This transition from the Institution to the Personal is surely one of the most paradigm shifting aspects of the time we live in?

Here is the “Godfather” of the idea of the Attention Economy – Michael Goldhaber back in 1997 explaining this shift from Attention that you could buy to Attention that you could only Earn!

“.. money now flows along with attention, or, to put this in more general terms, when there is a transition between economies, the old kind of wealth easily flows to the holders of the new. Thus, when the market-based, proto-industrial economy first began to replace the feudal system of Western Europe, in which the prime form of wealth was aristocratic lineage and inheritance of land, both the noble titles and the lands that went with them soon ended up disproportionately in the hands of those who were good at obtaining what was then the new kind of wealth, namely money.

With considerable ease, the rising merchant and industrialist class could buy old titles, induce governments to grant them brand new ones, or marry into the old impoverished gentry. The parallel today, again, is that possessors of today’s rising kind of wealth, which is attention, and whom we label stars of every sort, have an easy time getting money.

But now let me point out that the other way round doesn’t work nearly as easily. Contrary to what you are sometimes urged to believe, money cannot reliably buy attention. Suppose it did work that way. Then you could have been paid to sit here and listen closely even if I were to read you something as boring as the phone book or an unabridged dictionary. Presumably it wouldn’t even matter if I kept repeating the same few syllables over and over. If money could reliably buy attention, all I would have to do is pay you the required amount and you would keep listening carefully through all that, not falling asleep en masse, nor allowing your minds to wander. In truth, even if you had been paid a huge sum, this would be most difficult, and if you did it, it would be a testament more to your own deep sense of principle than to a general condition in which another roomful of similar people could be expected to do equally well.

Someone who wants your attention just can’t rely on paying you money to get it, but has to do more, has to be interesting, that is must offer you illusory attention, in just about the same amounts as they would if you had instead been paying money to listen to them — which by the way is closer to the case here. Money flows to attention, and much less well does attention flow to money.”

Attention that people will trust – about an idea, a product, a service, a politician, will come from “Trusted” people in your life and in your network.

Defining and measuring Personal Clout will therefore be very important in the future.

That is why I wanted to speak to the CEO of Klout, Joe Fernandez who very kindly spent time with me on the phone yesterday talking about “Attention” what it is now – how it builds from Robin Dunbar’s research. We also touched on how today’s kids may be having their brains rewired to be able to use a much larger network than was possible face to face.

Here are some of the ideas that we batted around:

• It’s all about how you are as a person - Many newbies still think of Social Media as a big megaphone – they still shout out to the crowd – “look at me” aren’t I great!!!!” – But they most important aspect of the new world is what “Others say about you” and who those others are and how large your and their network is. To get their attention demands that you have something good to say and that you have also won their trust. This then is not easy environment. There can be no instant success.
• It’s all about how you are related in network terms – This is why Klout have set up their algorithms to measure True Reach or the value of your content -  Amplification Probability or how we you are related to the people in your network – how large and diverse is your network – do they find you interesting, safe, or a bore  - and Network Influence or do you influence people with influence. This makes a lot of sense to me. I think that Klout is trying to get a handle on the playing field. I also liked it that Joe kept reminding me that they are at the start of a voyage of discovery. That they may be ahead of others but know that there is so much to discover.
• The online world is likely larger than the personal world - Klout will fond out how much larger. The Dunbar numbers still operate in the personal world and for adults my age I think. But Joe made a case based on observation that he is seeing online Trusted Networks maxing out at about 500 (144 is the max Dunbar number) His own floats between 150 – 350 but he still relies on about 150. The really interesting point he made is that he is seeing a new world emerge with kids.
• Kids have a new social reality – they never lose a friend! – When I was a boy, we moved a lot. So at every move to a new place, a new school etc, I lost touch with 98% of the then friends. Over time they faded from memory. But now, a kid moves or changes school and stays in touch with most of  her friends. Even now as an adult, I am regaining touch with old friends long lost. Joe and I thought that decades of staying connected must have an effect on the wiring of the brain. After all print had that effect by making the left hand side more powerful. The brain is very plastic and can change very quickly as we see with say stroke victims. It is very likely that a child of 5 today who is a keen user of social media, will have a very different brain than I do when they are 25.

This new world is literally unfolding before us. Joe thinks that Klout now is about where Google was in 1997 – the key algorithms are in their infancy but are already able to tell us interesting things. Much more will be possible over time – especially when there is more data to observe.

But 2 things are clear to me – understanding how Clout works is core to the new economy. And that measuring Clout as Klout is doing is going to be very important.

Your reputation is your capital. You and not the institution will have the power.

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Travel Chaos and Twitter – Lessons for all Crises

December 30, 2010 at 7:44 am · Filed under Adoption, Air Travel, Business 2.0, Business Intelligence, Collaboration, Community, Culture, Customer Service, Emergency, Enterprise 2.0, Organizational Design, Twitter, User Revolution, Wisdom of Crowds

Millions of travellers have been stuck this holiday season. The question is what can you as a traveler and what can you as a supplier do about this kind of event.?

The lesson taken from this Christmas is surely larger than travel but also applies to any bad event – such as Skype’s system failure. You can imagine what your equivalent might be in your organization.

I can see that part of the answer is to be found in social media. Here is how the NYT ran their version of the story today:

While the airlines’ reservation lines required hours of waiting — if people could get through at all — savvy travelers were able to book new reservations, get flight information and track lost luggage. And they could complain, too.

Since Monday, nine Delta Air Linesagents with special Twitter training have been rotating shifts to help travelers wired enough to know how to “dm,” or send a direct message. Many other airlines are doing the same as a way to help travelers cut through the confusion of a storm that has grounded thousands of flights this week.

But not all travelers, of course. People who could not send a Twitter message if their life depended on it found themselves with that familiar feeling that often comes with air travel — being left out of yet another inside track to get the best information.

For those in the digital fast lane, however, the online help was a godsend.

Danielle Heming spent five hours Wednesday waiting for a flight from Fort Myers, Fla., back home to New York. Finally, it was canceled.

Facing overwhelmed JetBlue ticketing agents, busy signals on the phone and the possibility that she might not get a seat until New Year’s Day, she remembered that a friend had rebooked her flight almost immediately by sending a Twitter message to the airline.

She got out her iPhone, did a few searches and sent a few messages. Within an hour, she had a seat on another airline and a refund from JetBlue.

“It was a much, much better way to deal with this situation,” said Ms. Heming, 30, a student at New York University. “It was just the perfect example of this crazy, fast-forward techno world.”

Although airlines reported a doubling or tripling of Twitter traffic during the latest storm, the number of travelers who use Twitter is still small. Only about 8 percent of people who go online use Twitter, said Lee Rainie, director of the Pew Internet and American Life Project, a nonprofit organization that studies the social impact of the Internet.

“This is still the domain of elite activist customers,” Mr. Rainie said.

Of course, an agent with a Twitter account cannot magically make a seat appear. More often than not, the agent’s role is to listen to people complain.

I recently posted about Trust and how important it is. Being silent is THE worst position. Even when you cannot offer a fix, offering an ear and the truth helps. Skype kept a running commentary about their problem and now that they have fixed it have shared the post mortem on their blog. Please look at the comments on the Skype blog – a lesson for us all.

I had been critical of Air Canada until this Christmas - but even they have upped their efforts on Twitter to work with clients and to offer sympathy when they could not help.

They still do promotion as you can see but look at the other tweets – Air Canada are starting to get how this can help their Trust levels.

Now Twitter is still an elite tool for the elite. But all new things start this way. I am thinking of all those who were in the information dark looking over their shoulder at those who were in contact and can see that it will not take long for Twitter and Social media to become the normal for how we find our way around problems. Here is a brief summary of my own travel hell. Where I reach out on Twitter and my friends help me.

This illustrates for me the next phase of using social media to navigate crisis. Right now an airline or your organization can use social media to communicate from your own perspective. But what if you could harness, as I did, the collective wisdom of the network?

In my case I could not be sure of what the roads were like in the last 4 hours of a 13 hour trip. I asked my pals for their opinion and in minutes got enough “TRUSTED” advice to make the call to stop. My pals may have saved my life. So what if an airline could use its followers to help each other look at local weather – hotel rooms – alternative routes etc – even put each other up? What would it take to have a real community of customers? For if you did – they could do this.

Again this demands a new relationship with your customer. A customer is no longer a person out there but a node in here.  If you can build up trust with an inner group, you can partner with this group in all sorts of ways.

• Marketing
• Crisis Management
• Problem Solving

Let’s play with this in later posts.

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Facebook, et al are Soooo 2007 — Here’s Where the Real Action Is

January 20, 2008 at 6:31 pm · Filed under Business Intelligence, Enterprise 2.0, Enterprise Social Computing, Enterprise Software, Facebook, Information Management, Interview, SAP, Social Networking, Web 2.0, Webinars

Web 2.0 — as glorified by Time Magazine when the publication named “You” as the Person of the Year — has moved from entertainment and social networking medium to strategic corporate weapon.

That’s the view of best-selling author and digital society guru Don Tapscott, who recently declared that Web 2.0 “is no longer about hooking up online or creating a gardening community of putting a video onto YouTube… The new Web, so-called Web 2.0 and service oriented architecture are really becoming a new mode of production, and changing the ways that we innovate, the ways that we make decisions, the ways that we collaborate, and the ways that companies engage with the rest of the world.”

Don is a featured speaker at the upcoming FASTForward ‘08, to be held February 18-20 in Orlando, Florida.

I recently moderated an ebizQ Webinar in which Don discussed how Web 2.0 technologies and approaches are dramatically changing the way businesses manage and analyze information. (Audio replay available here – registration required.)

Don Tapscott broke new ground in 1996 with his book, The Digital Economy: The Promise and Peril of Network Intelligence. His latest book is Wikinomics: How Mass Collaboration Changes Everything, co-authored with Anthony Williams.

In our Webcast, Don described how he sees the Web 2.0 world — with its high degree of collaboration — changing the face of business intelligence to “collaborative intelligence.” Prior to the introduction of Web 2.0 methodologies, he explained, internal data had “been accessible in various limited ways through traditional ERP reporting systems, MIS and business intelligence.”

Now, he continued, “for the first time, this is all being supplemented by massive quantities of additional data that is created through new models of collaboration, as consumers and employees use the new tools of collaboration — wikis, blogs and social networks.”

“The marriage of this new accessible data with the firm’s traditional internal data creates an unprecedented challenge, as well as an opportunity to gain insight into the behavior of the company’s most important stakeholders, and to translate that knowledge into success in the marketplace.”

The speed of Web 2.0 processes is also changing what end-users expect from BI approaches as well. “Think about if you do a Google search, you get the results back instantly. If the results took half a minute, or five minutes, or 10 minutes, you’d probably stop using Google so much. Traditional BI was kind of like that — which is part of why we didn’t use it so much Because you’re calling out to a disk, basically.”

The merging of Web 2.0 and business intelligence has become an enormous opportunity for growth, Don said. “For starters, we’re seeing the integration of business intelligence, which has historically has been about numbers, with content and knowledge management, which has been historically about words.” For example, Don foresees the rise of of 3-D visualization of BI data.

“The mother of all opportunities is people across an organization being able to collaborate more effectively around data.” He calls this collective intelligence the holy grail, in which “minds across an organization can come together around information and data that they believe and is relevant and timely and pertinent to them.”

(An audio replay of our recent Webcast is available here – registration required.)

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