Show me Numbers

When considering making a purchase as a business there are arguably three forms of justification – need, fear or value. By need I mean an absolute requirement for something i.e. you cannot operate without it. By nature these aren’t the decisions that you spend very long thinking about. The other two are where the majority of consideration comes in.

Fear – To a certain extent this is the more irrational of the two. What if I don’t do this? What won’t I know? What will people think? What if my competitors do or perhaps they already are?

Value – This is the more rational. If I do this I will derive this much benefit.

In the recent Econsultancy Social Media and Online PR Report (well worth reading) amongst many interesting statistics a few that jumped out at me were in connection with organisations’ (Figure 17) and Agencies’ (Figure 19) views of the potential value of social media.

Two points jump out at me from these stats. Firstly that Agencies think organisations are more sceptical about value than Organisations apparently do themselves. Perhaps this is due to lack of follow through on spending decisions?

Secondly that in both cases these figures imply that value is seen as a much bigger challenge to the argument for engaging in social media activities than the challenges and risks.

This is borne about by the findings of Figures 48 and 50 where from both Agency and Organisation perspectives 60% of respondents considered they had achieved some benefit from their social media activities but nothing concrete.

So with the vast majority of respondents seeing no concrete value in what they are doing does this suggest that fear – fear of what is being said about you, fear of missing an opportunity – is playing more of a role in justifying investment in social media than value?

Oh and the picture is from the 1970s TV version of Salems Lot and this scene was quite simply the most scary experience of my life at the time and I have never forgotten it!

I was involved in an Econsultancy Round Table session recently and amongst many very interesting topics discussed was (of course) the perennial conundrum of PR measurement. During the discussion a number of people commented on how they no longer placed any reliance on, or used, Technorati since it had changed how blog authority and rank were calculated.  So I thought I would see if I could get to grips with it.

In the past, Technorati’s authority score for a blog represented a count of the number of different sites that had linked to a particular blog in the preceding six months. Until the summer of 2008 this count included links where blogs appeared in blogrolls. These were removed from the calculations at that time, as they were identified as being too slow to change. Basically people’s housekeeping in connection with blogrolls was identified as being less than real time – to say the least I suspect!

The rank of a blog then represented how many blogs had a greater authority score i.e. more different inbound links than the selected blog.

The new measurements from October 2009 are less transparent but arguably more valid and useful. According to Technorati, authority is now based on “a site’s linking behavior, categorization and other associated data over a short, finite period of time”. This results in a score out of 1,000, with a higher score indicating greater authority. The advantages of this approach are that it is less easy for people to manufacture authority by creating fake links, plus the ratings are more dynamic, reflecting the extent to which individual blogs are the source of conversation.

They have also introduced a second authority score when viewing blogs through the Blog Directory feature that relates to a blogs relative authority within the sector or sub sector that it is classified in. For example if you want to know the blogs with a small business focus that Technorati thinks have the most authority on the subject then you can see a list here. In this case the Online Marketing Blog is assessed at having quite a bit more authority (961) within the small business blogs than the second ranked blog is this sector, Social Media Today (871). This is despite their overall authority scores being 614 and 689 respectively. Indicating that though SMT has more authority generally, Online Marketing Blog is considered to be more influential within the small business sector.

This is an interesting, and I would suggest, very useful change as it is relative and relevant authority that matters when assessing the importance of different sites not an absolute measure. We take the same approach to ranking sites at RealWire when calculating our RealWire Influence Rating for coverage achieved. If you don’t take this relative/relevant approach then you will always end up saying that the most influential sites are ones in the biggest communities e.g. Tech, but that is obviously not appropriate if you were trying to assess which sites were influential to, say, the fashion sector.

You can also see those blogs that are rising and falling the most within that sub sector on the right hand side of the same page.

I reckon these changes mean that it is easier to find key blogs that are relevant to you and those that are becoming more and less influential over time. And no this isn’t just because my blog now appears in the top 20k! What do others think?

I hosted the Fresh Business Thinking HitMe Summit on Online Marketing on Tuesday this week. It was a jam packed day with some very interesting speakers. I rounded things off with a brief overview of the online pr world and the importance of relevance. For anyone who is interested here it is.

Well the silly season is pretty much over and at RealWire we have been using this quiet time to go on holidays, get married (congratulations Hollie!) and put the finishing touches to our new animation.

The video is called “Online PR is all about Community” and tries to provide a simple analogy for people to bear in mind when approaching online PR. Here it is:

Online PR is all about Community from RealWire on Vimeo.

There are lots of white papers, reports, posts, articles etc giving instructions, guidance, facts and knowledge around this subject of course. Commoncraft for instance do a brilliant job with their videos, but these focus more on the specifics of the elements of the online world themselves – e.g. RSS, Twitter, Social Bookmarking etc.

We hadn’t really seen someone attempt to produce something that tried to distil things into a simple story that gets at the fundamentals and then produce it in a (hopefully) entertaining way. The analogy we use in the video isn’t new, in fact its as old as the hills, but perhaps it will help to serve as a reminder of what sits at the heart of good “people” relations.

So far we have had a great response from people all over the world with the video already clocking up almost 4,000 views in its first week and over 100 tweets. Thank you to everyone who has watched the video to date and been kind enough to take the time to provide their feedback either directly or indirectly. We really appreciate it.

The production of the video, and in particular the script development, focussed our minds on confirming that the way that we at RealWire do things fits this approach.  We have given an overview of how we think our approach to distribution strives to be consistent with the principles outlined here. We aren’t resting on our laurels though, we will make mistakes sometimes, but we will always be open to feedback and suggestions of how we can improve, so that we can play a valuable role in the online community.

Finally a big, big thank you to Owen and the team at Thumb Digital our partners in crime when it comes to making these videos. And a special thank you to Steve, the designer who has produced both of our videos, and has to put up with me in particular being very picky!

I was reviewing the stats relating to my last post about the performance of Social Media Releases earlier today. Apart from being very pleasantly surprised to have nearly reached 1000 unique views (making this easily my most visited post to date!) I also found that the number one source of traffic was “direct”.

This means traffic that has been referred to the urls directly and not from another online source. Now unless anyone is able to remember a url with 141 characters, which I am guessing is unlikely, then I assume all of these visits must have come from people visiting the post from emails that include a hyperlink.

The breakdown of unique visits and their sources is as follows:

Twitter also counts for almost a third of the visits, which isn’t surprising given that the post has been tweeted 128 times to date (thank you to everyone who RT’d).

But the fact that almost half of all visits were direct demonstrates the power that email still has as a tool for sharing information with your community. Glad we didn’t forget to mention it in our video (2:25) on how news spreads online