social media measurement Archives - Page 3 of 3 by Mark Murnahan

Fisker Automotive’s “Fisker Karma” vs. “Social Media Karma”

Fisker Automotive is a startup automobile manufacturer based in Irvine, California that holds some pretty valuable cards in the future of “green” car technology. Like any startup, how they play those cards will close the gap on their potential to become a Ford or a Flop. First, I want to tell you how amazing the product is, and then I will share some reasons you may or may not see this 100 MPG powerhouse in a driveway near you. I will also offer some solutions. This should be a lesson to any company.

Fisker has developed an extended range electric hybrid car that I would describe as being so sexy it makes me want to take my shirt off and rub the Karma all over my body. I do not apologize if that gives you an awkward visual, because their Fisker Karma holds many of the same elements which car lovers, like myself, look for in a proper mate. It has amazing curves, it is strong at over 400 horsepower and astonishing torque, plus it looks fast standing still. I suspect that it even smells like a new car, and we all know how sexy that is, right?

Fisker Karma: The Car You Never Let Your Daughter Borrow

The Karma shares signature design elements with distant cousins Aston Martin DB9 and BMW Z8 Roadster; cars which were also designed by CEO, Henrik Fisker. Fisker may be an unfamiliar name to you, but he has a pedigree in automotive design, and has made some bold statements since his liberating personal venture into Fisker Coachbuild.

An added attraction which bolsters Fisker Karma’s market potential is that it treads lightly on our planet. In common short distance day-to-day use, the Karma is a plug-in electric car. Any true car-lover knows that electric cars have full-tilt torque-on-demand to plant you firmly into the seat in an instant. The torque, which is what makes car enthusiasts’ heart race, is mind-blowing. Don’t fret if the batteries fade, because it will automatically kick into gasoline-augmented “Sport” mode with enough power to whack your skull back into the headrest far better than your average hot rod. Bonus points come to play while the Fisker Karma can do this and still achieve 100 miles per gallon, and 300 miles between energy stops.

Fisker is Easy to Hate

The automotive industry is an easy target which many people love to hate. We love the freedom our cars give us, while we hate things like breakdowns, smog, and car makers who get bailed out while other economy-drivers eat beans and try to keep their companies afloat. Anybody who ever met a stereotypical car salesman has likely forged a few dire opinions about the automotive industry.

Karma: “the concept of “action” or “deed”, understood as that which causes the entire cycle of cause and effect”
Source: Wikipedia

Some companies are easier to beat up than others. It is often not because they are doing something wrong, but because they are not projecting enough that is right. With too little positive representation, a negative portrayal is much easier for critics to propagate. In the case of Fisker Karma, the automotive rumor shylocks have come to collect their pound of flesh.

Fisker Automotive has received a significant share of negative public attention for a company able to produce over $300 million in private capital followed by a U.S. Department of Energy loan for an additional $528.7 million (REF: US DOE Announcement).

Matters such as production delays, pricing increases, and gouges aimed at corporate officers are readily available, and even prevalent in their online media mix. I am not sure I would call it overly punishing just yet, but I consider it enough that people with the high stakes of founders Henrik Fisker and Bernhard Koehler, are wise to carefully monitor and attempt to adjust the brand image. I would also consider it punishing enough to speculate that large investors in founding partner Quantum Technologies (NASDAQ “QTWW”) have cause for any spoken and unspoken concerns.

It is not uncommon for a startup automobile manufacturer to have critics, but it is disappointing that the company does not appear as a significant participant in their publicity, positive or negative, thus far.

Thinking Points for Fisker Automotive Executives

I would like to offer a short list of solutions for the company. I also want to point out that these can be modified and applied to most other companies, as well.

Monitor: Monitor the Fisker Automotive brand. Act upon the horrid speculation and testimonies of others, using consumer-centric answers, instead of continued passive acceptance.
Qualify: Qualify benefits of issues such as price increases and production delays. There are clearly defined reasons, and they are not all embarrassing ones. The embarrassing reasons are the speculative excuses which people make up about Fisker.
Create: Create a respectable blog, for the sake of all things logical and measurable. Have a hub for the Fisker Automotive brand’s voice.
Strategize: Use Fisker’s massive technology, financial, and human assets to forge a strategy. “Sell more cars” or “Increase industry alliances abroad” are not strategies. Those are goals and tactics, but competing with Tesla’s Master Plan will require strategy.
Participate: Notice and participate in positive publicity. I have read a lot of good news about Fisker, too. In fact, I recently submitted a story to Digg.com about Fisker’s agreement with China Grand Automotive Group and watched over 40 Digg votes stack up within just a couple hours. In each of the news stories and online conversations I have read, I never witness any company participation to answer questions, but I have often seen the comments turn sour. In several cases, there is a correlation between that lack of participation and the souring of opinions.
Delegate: Be diligent in reviewing my qualifications and my drive to assist the company. My résumé is only a click away, and likely a great investment for Fisker Automotive.

I hope to see Fisker do well, and I am pulling for them. In fact, there is only a small list of companies flying this low on my RADAR for which I initiate prompts to review my résumé. Fisker Automotive is a company that I find a strong desire to work with, because I see their enormous potential, as well as their missing pieces.

The first step is to find out if Fisker is listening, and if so, whether they recognize a need to address their current and upcoming challenges of public opinions and brand marketing.

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Will Your Social Media Noise Withstand 2011 Filtering?

Toward the end of the year, it is easy to look back at the last twelve months, and to form new thinking of the year to come. We may try to do this all year, but let’s face it, as we see the clock tick toward 2011, it is easier to close one chapter and open another with a fresh mind. I want to share some of my social media observations of 2010 and look toward 2011. Please join me.

This year, as with past years, many people were frantic to learn the value of social media marketing for their business. During 2008, 2009, and 2010, social media experts in shining armor came riding along on their strong white steeds to save the day with theories from A to Z.

As we near 2011, there are about as many theories on social media as there are “social media experts”, and let me tell you, there are a lot of people calling themselves experts these days. In the past few years, the field of social media marketing took on the excessive noise of squillions of unemployed and starving advertising salespeople, public relations reps, marketing strategists, receptionists, real estate agents, automotive line-workers, and broom-pushers from around the world. Go ahead, shoot the messenger, but what I say is the truth.

Many newly self-appointed social media experts formed theories of what creates enough value in social media that they can sell their services to the abundant number of companies desperately trying anything to get their bills paid. A lot of these so-called experts agreed on things such as the best tools to use, the value of listening to the public, and engaging their customers and potential customers using social media. However, there has often been a huge disparity between the theorists’ ideas and their actions. Worse yet, they have often confused efforts with results.

A lot of people have claimed to have expertise with a given angle, such as how to become popular on Twitter (a very funny topic, by the way), or how to manage a Facebook campaign. Other experts will dig a bit deeper with topics of social media data analysis, and a smaller few experts engage the psychology of people in order to build upon their pack mentality and create a desired response.

As the experts came calling, so did their noise. Even the people who are reliably good at their jobs in social media found that there was a strong barrier of noise to overcome. What was often heralded as the most important factor, which was “engagement”, began to fade as people implemented a stronger filter to strain out the noise. A hazardous outcome of this was that many of the “experts” simply turned up the noise, rather than to create a new strategy and new tactics.

Making a Whisper Heard in Social Media

Social media is a very noisy place, and most of what people will encounter on a daily basis is easy to consider “junk”. That is because it is junk to them. I urge you to remember the old adage that says “One man’s trash is another man’s treasure.” and it goes both ways. Your treasure may be their junk.

The Internet is inundated by noise (people are noisy, after all), and there is likely only a small percentage who will see value in your “junk”. What I have to say is certainly “junk” or “noise” to the mango farmer in Navsari, India who just needs to find a new truck to haul his crop of mangoes. He is not my target, and thus, I keep my noise level down so as not to bother him. If he needs me, I am still here, but I am not going to bug him.

Where many failed social media campaigns sealed their losing fate is by simply adding to the noise. Failing to reach a specific target audience is not only wasteful, but leads to a significant filtering-out effect. As a marketing professional, myself, I have been stunned by how many people contacted me in 2010 to try and sell me their SEO and social media marketing services. They would actually even email me through my blog’s contact page where they have to enter a captcha code to send their email. This indicates that it was not just automated, but actually a live person entering their sales pitch to sell me the same services which I provide. Before you waste time with this approach, you should at least note the title of the blog.

These people who approached me had no idea of a target, and they added to my filtering-out of the majority of others in their industry … my industry. People approaching their market in this way made so much noise that many people’s “noise filters” went into hyper-drive and tuned them out. This was not limited to my industry, either. The noise level of the Internet as a whole is higher than ever, and with noise-filtering becoming more important, often times a whisper is heard above a shout. This means that the challenges are in careful targeting and balancing volume with value.

Social Media Balance of Volume vs. Value

There is an easy assumption that the volume and reach of a message creates value to a company. This is what we have all be taught through years of commercialization. It is true that there is a strong correlation, but there is a big backlash, too. In the realm of social media, there is a very common outcome of being filtered out.

A better solution is to be filtered-in by proving your value rather than just your volume. Anybody can create volume, and it is quite evident online. It does not take a marketing genius to promote something online and put it in front of a lot of people. Doing it in a way that gets you “filtered in” instead of being “filtered out” is a lot trickier.

Can I claim that this will be the most important piece of your social media strategy to address in 2011? I am not going that far, because there is already plenty of argument on the matter. There are many points of your social media strategy which should constantly be analyzed, criticized, and adjusted. What I can say regarding volume vs. value is what I have experienced. If you wonder if I actually mean what I say, simply look at my frequency of blog updates and usage of other social media for my answer.

I have been claiming it for years that volume alone is often wasted effort. Reaching a good balance of volume and value is important. I believe that as 2011 moves on, the balance will become even more important than ever while people continue learning to filter in good information and filter out noise.

Just as before, but with more prevalence than ever, targeting your message more carefully to reach your market influencers and discovering what they want will factor heavily in the success or failure in many social media campaigns.

Social Media at a Whisper

In summary, it is my continued belief that careful targeting and keeping value high will trump the importance of volume in 2011, just as it has in past years. As such, I invite you to filter me in and subscribe to my blog by RSS or email. If I do not have something to offer which I believe you will find useful, I will keep the noise to a whisper.

Photo Credit to Joe Shlabotnik via Flickr

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Social Media Measurement Tools: What Do They Know About You?

Social Media Measurement is Big Business

How much do people know about you? This is an important question to a lot of people, and particularly businesses. Another perhaps even greater question is “how much do they know about you that gives false indications about you?”

Opinions are very important, and also very easy to forge in social media. At least the bad opinions are easy to create, and so it becomes important to address things which may give early impressions about you, or your company.

There are millions of companies hot on the trail to compiling data about you online. It is easy to imagine that all of the data is just aggregate data which applies to you and millions of others like you, but there is also a shocking amount of data about you, specifically. This is not always a huge security risk, such as people stalking your social media usage to know when you are home and away, or anything so threatening as that. However, a risk that it may impose is an early impression that people or companies may create about you, or insights to your weaknesses.

Whether you are in the business of social media, or using it to promote your business, there are a lot of ways for people to make early, and perhaps false judgments about you. This is not limited to subjective statements about you or your company, and it is often presented with objective data.

I will point out a handful of the social media ranking and measurement tools that people may use to gather an opinion of you. Some may appear as little more than tools to allow people to boast, and promote themselves as being greater than reality. Others may cause a greater impact, especially when used to form a composite view.

It should be noted that each of these services are subject to errors, and often have network limitations imposed by their sources. The data should never be presumed as completely accurate, but again, when a composite is created, it begins to paint a clearer picture.

Klout: “The Standard for Online and Internet Influence”

Klout has some pretty compelling data collection and measurement metrics (see Klout website). Klout measures influence of users across the top social networks, Twitter, Facebook, and soon to include LinkedIn. The service seems to be making a lot of progress with improvements such as daily score updates, which used to be limited to every six days.

On the surface, Klout may just appear to be great for producing bragging rights. However, the emphasis is for discovering others who are measurably influential within given industries or topics. This gives it huge potential for networking as people seek influencers. On the other side of the coin, it could also show competition where you are lacking.

I like Klout’s idea, and with a large group of developers working on their service, it seems they are putting significant effort into it. Since the release of a recent plugin, users are able to view Klout measurement in the popular desktop social media tool, Seesmic Desktop. This makes it clear that people are viewing this data, and most certainly forging opinions.

I believe that Klout has some real potential to add value and move their service forward. I must also say that, although they may be completely wrong about this, I am definitely flattered by their assessment of me as a “Celebrity”. Heck, roll out the red carpet … the Murnahan limo tweeted from 48th Street and is headed this way!

HubSpot Grader Tools

HubSpot has created a suite of individual tools for social media and website measurement, including a Facebook grader, Foursquare grader, Twitter grader, and more. I generally place much lower value on any singular social media signal when compared to aggregate data across multiple sources, but people are using them. The number of people using these tools to discover other influencers or forge opinions, as opposed to seeking bragging rights, is unclear.

In my experience, most ranking services which only grade based on individual services are extremely easy to “game”, and especially with Twitter. I have seen my name at the very top of each of them when I wanted it there, and it often only takes a very short time (hours, not days). Twitter is a pretty challenging place to numerically assign accurate and meaningful values to users, but services like HubSpot’s Twitter Grader, Twitalyzer, TweetLevel, and many others are trying very hard. I have previously pointed out that any algorithm to measure Twitter can be cheated, and often with ease. Here are some reference points for that statement:

PostRank Measurements are Useful, but Flawed

PostRank measures social media engagement of blogs. Yes, blogs are social media. If your company does not have a blog, please stand up and hold out your wrists for a good slapping. Didn’t you read “10 Really Good Reasons to Blog“? Your competition probably did.

PostRank pulls data from many sources, which makes it far less fallible than others which only measure single points of data. PostRank is still limited to restrictions of networks, and simply cannot aggregate all pertinent data. However, it is more compelling than many measurement tools because it aggregates and assigns measurements from an impressive collection of data points.

The image below shows an example of a PostRank score for a given article which shows what PostRank knows about it. Again, I must emphasize that PostRank data can still be flawed, due to network restrictions and the sheer volume of data which is to be reported.

Advertising Age’s “AdAge Power150” Accuracy Through Composite Data

Advertising Age gives a great example of increasing relevance and accuracy by producing a composite view across more data points. The “AdAge Power 150” shows that if you selectively merge some of the many social media measurement tools together, the outcome can become more accurate and compelling.

In the example of AdAge Power 150, they have implemented measures of Todd Points, PostRank, Yahoo InLinks, Alexa Points, and Collective Intellect. Their calculations are explained on the Advertising Age website, and I think it makes a useful example of how social media measurement can be used to form a composite view. To further the depth of the data, most of their sources pull from multiple other data sources.

Summary of Social Media Measurement

Social media influence and authority of a company or individual is not easy to measure, but many people are seeking this data to make estimated guesses about you. This is becoming more prevalent as measurement tools are integrated with other services. It is easy to let down your guard and assume that nobody actually uses this sort of information, but they are, and in huge numbers.

If your online representation is weak, competitors can key in on that weakness and use it against you. On the other hand, if your online branding stands tall and reflects industry authority, it can lead to furthering your network and growing your business opportunities.

One common fact about each of these measurement tools is that in order to be viewed as relevant, you must make consistent efforts.

P.S. One of those measures of PostRank is comments. Strangely, my blog scores sky high, even with a considerably small number of comments, but you can still do your part! Tell me what you think, and how you feel about all of this measuring? How might it affect your business? Do you have a favorite?

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