Posts Tagged ‘Vitrue’

Lies, Damn Lies, & Stinking Loads of …

Thursday, March 10th, 2011

Courtesy CBS Interactive & Star Trek

Remember that Star Trek episode where Captain Kirk is stuck on some barren planet with a 9-foot Godzilla-like lizard, and the two of them are supposed to fight rather than their respective armies? The big lizard hisses, “I grow weary of the chase. Wait for me — I will make it quick, and painless(sssss). That’s how I’m feeling about measuring social media right now.

It would be so easy to just give in.

I’ve been pondering how to measure influence, in particular, after a spirited discussion on both Justin Goldsborough’s and Shonali Burke’s blogs. That led to a bunch of posts on how we might use the structure of measuring relationships (Hon/Grunig).   This is heady stuff for peanut-brains like me.  The high-forehead types who make their living in the academe are used to thinking in these terms, but all of this stuff is pretty new for me. I’m just some guy, trying to puzzle out how to make sense of the concepts of influence in the social age, and apply the both new and hoary theories in the process. If I have to explain this stuff, I better have some ideas.

But there’s a lot more traction in just inventing a method and telling people it’s the standard, never revealing the contents of the magic box.  From Altimeter to Syncapse, to Vitrue to Klout, we learn that more-social companies have higher revenue than less-social (correlation is NOT causation); Facebook fans of a brand buy more stuff than non-fans (but which drives which?); Facebook fans are worth $3.60 (no, $136, no…), and that the “standard for influence” has something to do with Facebook and Twitter, but we’re not sure what because the formulas are secret.

H-E-double hockey sticks! I want to fight them all!

But, jeepers, why not just join them?  I came up with an idea last year to evaluate political material — know at a glance whether an article is left-or-right wing, moderate, or a combination of both.  I cooked up how it would work (programmed like automated sentiment), selected someone to write the code and even chose a name.

But it would have been a stinking load of … crap! I wasn’t basing it on any kind of research, just my own desire to make money, preferably by selling the company quickly to someone with deeper pockets, poor analytical skills and a short attention span.  Why go to all the trouble of vetting it, ensuring it actually does what it intends? That hasn’t stopped the flow of snake oil!

The class I teach at Kent State meets Wednesday nights, and on 9 March, the estimable Chuck Hemann, SVP for Ogilvy, joined us by Skype to talk to the class. He’s SUCH a smart dude (and he’s humble, claiming that I taught HIM stuff…) What my takeaway was: There are no easy answers to the social media measurement questions, and the snake oil is still gushing in the space. It takes some primary research, some actual analytical work, to figure this out. No shortcuts, no one-size-fits-all formula.

Here, I thought I’d missed the boat and should be hawking the Oil of Genius.  It’d be a lot easier than fighting the good fight, for sure. But I’m glad I’m still on the ramparts, exalting the troops to victory.

Even if I do, occasionally, “weary of the chase.”

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Theater of the Absurd in Social Media Metrics

Tuesday, May 11th, 2010

As we PR people feel our way along in social media, the marketers are declaring the End of Times for everything else. Anecdotal evidence shows that big companies are pulling big money out of traditional advertising and funneling it into social media, and that bears examination.  But as I’ve said, I’m not ready to write obits for mass marketing/advertising in favor of “marketing to a segment of one” right this very minute.

I first heard that phrase (Marketing to a segment of one) from the lips of Steve Cone, legendary marketer and then-CMO with KeyCorp. He was the architect of dropping the “Corp” and/or “Bank” from the company name in favor of the symbol you see at right.

That made Key one of just three companies in the US bearing an eponymous symbol for its name. Shell and Apple are the other two.

Key made a strategy of getting people to see the Key logo and associate it with “bank,” as in, “I need to stop by the Key on the way home.”  The idea, Cone claimed, was to stop thinking of mass marketing — with all of its efficiency and logical, numbers-driven strategy, and think of “marketing to segments, eventually to a segment of one.” So then came emerging affluents, wealth management, small business, middle market, large corporate — all of those categories based on grouping customers in some logical way, then changing strategy to target them.

This requires information about customers and prospects. When it comes to social media, that information is scattered to the four winds, unless you’re on Facebook.  Twitter’s foray into geo-location, Foursquare, and many other social media firms are trying to gather as much data about YOU as possible to facilitate what is a pretty old marketing model.

Just as at the onset of the Web Age you had hundreds of companies popping up to “help” companies enter the Internet realm, now at the onset of the Social Media age you have companies popping up to “help” companies enter this realm. The part that twists my noodle is when companies purport to know how to measure social media come up with yowlers — like the Vitrue Facebook fan value imbroglio, the Altimeter study on correlations between social media activity and stock appreciation, and now Vitrue’s assertion that frequency of mention in social media is somehow a reflection of its social media reputation.

Vitrue offers a chance to compare brands in a handy Flash gobo that produces a cool pie chart. Just for fun, I compared Ford (which Vitrue pronounces its winner) with a couple of random words — sure enough, pop “the” in there, and you find upteen thousands (OK, 134,000) ‘somethings’ and the aforementioned cool pie chart. Ooh, and there’s a bar chart too! So kewl.  W00t!

I could go on for 1,500 words, but won’t. It’s another cow pie pretending to be a metric.  Resist this assault on rational thinking.

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