In social media, people who put in more than they take out
, the helpers, are treasured for their value. You think it hurts Martin to give away all that expertise for free? Think again, it just makes him more of a go-to guy, which is great for his business.
A good way to become an influencer... generous, killer posts!
Reshared text:The art and science of measurement using Google+...
This is an article for people in social media looking to measure 'return on investment', entrepreneurs looking at making money through on or offline activities, anyone else, as food for thought, who is considering ways to monetize activity.Why consider using measurements on Google+?
One challenge many people have is how to measure the Return on Investment of social media activities.
I first studied marketing as part of my degree in Law and Business Studies in 1995; when I began using Adwords almost 10 years ago I realized the power was in the measurement.
For the first time, using the Adwords platform, I was able to measure the cost of a sale in a business through reverse engineering the process:
In order to achieve 1 sale, it took 10 enquiries, at a cost of $5 an
enquiry, based on $0.50 pay per click and a conversion rate of 10% on
the website = $50 as the cost of sale/price of acquiring a new customer.
This made marketing so much more easy to measure.
(Overture was one of the companies I used before Google, but I found the
Google system to be better for end to end measurement.)Applying this thinking to Google+
Every post that we make on Google+ has an element of art and design built in it; every word we write, every image or link we choose to attach all display as aspect of ourselves. This is the art.
Also, in the same way as measurement using Google Adwords is a science, I believe 'ripples' will be used to analyze online activity.
And here is just one suggestion that could be used for people to think about
monetizing activity on the Google+ platform (if not already doing so).
Here is one way of applying the thinking:
Either for your own business or for someone else with whom you agree an affiliate/referral kind of a deal...
1. Set up a unique URL with analytics. This landing page is only going
to be accessible from a social media campaign.
So, for instance, you know the source of the traffic is a Google+ post.
2. On the landing page, create a call to action e.g. a phone call
(with a code to quote), a contact form, a purchase etc.
Note: creating landing pages that really work is an art form that can
then be measured to their responsiveness.
Doing split runs on landing pages will find the ones that convert the best.
3. Create a Google+ campaign - this could be one post or numerous with
content that is 'relatable' in some way i.e. it links between the business and the audience.
4. Seriously incentivize people for taking action e.g. discounts, exclusives, competitions etc.
5. Measure the number of actions that are created on the landing page
from the traffic being driven to it from the campaign.
over a 30 day period (as people may visit the site but not e.g. fill in the form until a later visit)
6. Analyze the spread of the posts using ripples. Using a simple
system such as RippleRank below, you can measure the level of influence of specific people in the network.
7. Approach the people with the greatest influence (i.e. not only
those who relate to the message but also have influence further so
that other people relate enough to share it onwards) - these people
are your main social assets...reward them!!!
If people in your network don't relate to an idea then the idea will not spread.
Trying to ‘sell’ to people, therefore, simply won’t work unless people relate to the message.
Also, keeping ideas within the Google+ platform will tend to create less
friction so that ideas spread more easily.
As such you campaign needs to consider this carefully to ensure that
the landing page has activity, not just a post getting more shares.Quick example:
If you have an 'ethical chocolate club' and you want to offer a deal
on a $100 box of chocolates for $20 then you can find those who relate to this
message by considering the shares.
You could then look at setting up a monthly ‘chocolate club’ and having people pay $47 a month on a 12 month subscription etc
If people relate to this message within your network, they will see this is a great offer and be appreciative you found it for them.
Note: you can also analyze other people's campaigns as well. This
gives you insight into influencers on certain relatable topics.RippleRank as a way of analysing further...
Definition: the relative rating of network influence.
Context and analysis - based on the ripples from posts, or series of
posts combined, to give a % weighting
This is a method of analysis I have been working on for a while.
At a glance you can attribute relative influence of a person within the network for an individual post.
Data take from several posts could be aggregated to give greater meaning as well.
The more people's personal network relate to a message (even when not the
originator), the more the message will spread.
Let's take a quick example.
A post has 700 shares over a given period of time.
Yes, I know this is a lot but it regularly happens if a post goes on What’s Hot.
Looking at the ripples, we see that two people - Alan and Barbara -
constituted much of the influence of the onwards shares.
Then there were many individuals who shared but there was no onward sharing.
As a simple formula:
700 shares = one person (Alan) with 70 + one person (Barbara) with
35 + four hundred and sixty five people with 1 share each
We can then make it into percentages of influence:
100% = 10% (Alan) + 5% (Barbara) + 0.182 (per person)
So we could consider Alan having a basic RippleRank of 10 and Barbara of 5
Yes, I know it is based on a % of activity in this example but in time we may have access to the data in an easy way for +1s and comments
By drilling down into the +1s and comments would could then attribute values of:
+1 = x
comment = y
share = z
Where weighting of e.g. x=1, y=2, z=5 is the attributed, giving this a deeper set of information on general influence, especially if we then also factor in a % of onward +1s, comments and shares being weighted back to this person as a hub of influence.
But for the sake of this example, I will keep it simple i.e. the assumption here is that shares = more people reading the post = more visitors to the landing page.
We can, however, tie this information back into analytics data and
attribute the source (i.e. the influencer) in terms such as:
$10,000 of sales = 10% + 5% + 85%
So we can see that the relative influence to sales was:
Alan = $1000
Barbara = $500
Others = $18.20 eachDifferent rankings based on content:
A person has a different RippleRank for different content, based upon how relatable the subject matter is to their network.
If you send out content to which your network does not relate, you will receive a low RippleRank
So, people in your own personal network may or may not relate to deals
on computer components, others may relate to offers on boxes of chocolates.
You will still have a RippleRank for each of these areas if people do
This is not, therefore a numbers game; this is about relationships.Conclusion.Please note: I expect Google will be building in more and more tools within the Google+ platform over time.
None of us know what the future holds. But could this be one way for people to earn money?+Vic Gundotra
said "what if we understood individuals..."
Well, if you can understand who has influence in what areas there could be even more opportunities for people using Google+
If an individual was to initiate the campaign themselves then this could be a
brilliant for a company as it would drive traffic without their involvement.
If, for instance, I was to review a product and give a link to a website where it could be brought, my influence in monetary terms can be measured.
I am putting my reputation on the line and in return, effectively,
having an affiliate deal.
In this way you become the originator of the posts instead of an intial sharer.
This would give a RippleRank of 100 to that person as all onward shares/comments/+1s are coming from this initial action.
So, I know there is a culture which tends to push against anything salesy on
Google+ but I wanted to show how this method could be used as a win:win:win
People get a good deal, you get a referral fee and the company has a
Food for thought, well ethical chocolates anyway... #ripples #ripplerank #makinggooglepluswork #googleplustips