The Wisdom Of Crowds
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Transcript of The Wisdom Of Crowds
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The Wisdom Of Crowds
CROWDSOURCING FOR PRODUCERSBlaine Graboyes – April 30, 2012 – The New School
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The crowdsourcing phenomenon has had many success stories in the entertainment industry in recent years, from Yair Landau’s crowd-sourced animation project in 2008, to
the phenomenal rise of Kickstarter for crowd funding.
Now, crowdsourcing is being used by major brands to make marketing decisions; motivate feature film and t.v. audiences, and create dedicated distribution channels.
This session will examine different angles of crowdsourcing.
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How do you make decisions from crowds?
Metrics!
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Let’s examine one of the most powerful metrics...
K-Factor
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K-Factor = Crowds
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K-Factor defines theviral rate of social growth
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K-Factor
How did CityVille reach 70MM players?
How did Pinterest acquire 20MM new users?
How did Draw Something grab 35MM players?
How did Instagram inspire 1B photos?
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K-Factor ...is also known as the viral coefficient and is borrowed from epidemiology where it
describes the spread of actual viruses
Image From: Spreading Patterns of Mobile Phone Viruses
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K-Factor = Distribution x Infection
Excerpt From: Wikipedia
"Infection" measures how likely a person is, on average, to also become infected after contact with a viral host
K-Factor is the product of distribution and infection
"Distribution" measures how many people, on average, a host will make
contact with while still infectious
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K-Factor = Distribution x Infection
"Infection" measures how likely a person is, on average, to also become infected after contact with a viral host
K-Factor is a product of the rates of distribution and infection for an app (or virus)
"Distribution" measures how many people, on average, a host will make
contact with while still infectious
K-Factor Rules Of Thumb
< 1 than your in decline and need to make improvements= 1 than your in a ‘steady state’ with no growth> 1 than you are experiencing some degree of viral growth≥ 1.5 than you are minting your own gold coins : )
If K-Factor is....
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Example OfDramatic Growth
via K-Factor
CityVille GrowthIn One Month!
Data From: Silicon Alley Insider
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Example OfDistribution Activity
40-60% Of PinnersAre Active Hosts!
Data From: RJ Metrics
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Example OfDramatic Growth
via K-Factor
Draw SomethingIn One Month!
Data From: AppData.com
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Example OfDramatic Growth
via K-Factor
Instagramvs. Facebook & Flickr
Data From: mattryall.net
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If you are not currently tracking these metricsSTOP EVERYTHING
and implement a basic metrics program today!
Sketch From: VisionHelp
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K-Factor = Distribution x Infection
Participants
450,000
Actions
10x
Contacts
4,500,000=
Fundraising
$59,000,000
Donation
$10÷
Donors
5,900,000=
=
1.3
Donors
5,900,000
Contacts
4,500,000
÷
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K-Factor = Distribution x Infection
Participants
450,000
Actions
10x
Contacts
4,500,000=
Fundraising
$59,000,000
Donation
$10÷
Donors
5,900,000=
Donors
5,900,000
Contacts
4,500,000
÷
=
1.3Each Distribution Resulted In 1.3 Infections
K-Factor = 1 x 1.3
K-Factor = 1.3
Example From: Movember.com
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“If you don’t have any facts, we’ll just use my opinion.”
– Jim Barksdale (former president and CEO of Netscape)
Excerpt From: Data Driven Decisions For Startups
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For Tips On Improving K-Factor Download:blaineglobal.com/metrics.pdf