Harnessing collective intelligence, is it a reality or a myth

The concept of harnessing collective intelligence was introduced by Tim O’Reilly , this idea is part of the design Patterns and Business Models for the Next Generation of Software.  He argued that this notion developed from the transaction of the PC era to Web2.0 era and when the internet started to provide not only connection but provided a platform and services.

 

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Harnessing collective intelligence can be defined as crowd sourcing the public. Some may tend to define it as harnessing the wisdom of the masses. Whichever concept phrase you prefer, all of them basically mean collecting and taking advantage of the bigger community – its input, feedback and ideas.

 

 

IBM has jumped in to harness some of this intelligence by creating platforms that help make this a possibility, especially for the professional world.

 

As a chosen platform I thought Instagram has what it takes, similar to twitter it uses #hashtags. Those hashtags are going to bring in the views, often from those who might not ordinarily be able to find you but moreover it provides the ability to share photos and recently short videos. Because the fact that users interact with image-based content more than any other form of content on social networks

                                                                                Instagram

Instagram is a photo sharing app for iPhones that makes it easy to take pictures on a iPhone and share them with your Twitter followers, Facebook friends, or connections on your Instagram account. Instagram allows users to apply a series of filters to their photos in order to create a vintage look for their images that resembles a polaroid.”

Instagram uses the harnessing collective intelligent concept which generates some benefits. I chose two fields to shed some light on.

In business

  • Market your products and services in creative ways.
  • Post behind the scenes photos from your business.
  • Update people on your latest offers, events and promotions.
  • Find Fans – by finding and connecting people who are already using your products or services with those who have similar interest which may lead to potential new customers.
  • It promotes customer engagement – a perfect opportunity to encourage followers to participate in anything that involves your business –for instance product and services development.
  •  It helps build business personality.

 

In education 

  • Instagram & Spatial Intelligence –is a mental process through which the mind attempts to interpret certain types of information (visual).
  • Instagram & Linguistic Intelligence – students may articulate their thoughts into the right words and sentences, also they can participate in a group activity where students ask others to comment on the photos or the videos, thereby gaining instant feedback and interaction.
  • Instragram & Logical Mathematical Intelligence – can be done by sharing pictures with students by requesting them to work on it like cropping an image or improve its quality using Photoshop.
  • Instagram & Interpersonal Intelligence – Through sharing meaningful photos and videos may lead to the development of Interpersonal Intelligence which enables people to envisage and understand the desires, motivation and intentions of others.
  • Use of Instagram and iPhoneography in Art & Photography Classes – by understanding the camera setting and other tricks to improve the photos quality can assist student be better prepared to create wonderful  photos.
  • Instagram & Intrapersonal Intelligence – understanding oneself and realize one’s fears, feelings and motivations can be done by allowing students to work independently and reflect on some of the pictures they capture and create.

 

 

More on the subject..

http://contentmarketinginstitute.com/2012/10/how-to-use-instagram-for-content-marketing/

http://bigideasblog.infusionsoft.com/instagram-small-business-benefits/

http://www.l2thinktank.com/tag/intelligence-report-instagram

http://www.emergingedtech.com/2013/02/using-instagram-in-an-educational-context/

http://socialwebqanda.com/2013/12/8-smart-uses-of-instagram-for-smart-students/

http://www.weareteachers.com/community/blogs/weareteachersblog/blog-wat/2013/07/22/10-ways-to-use-instagram-in-the-classroom

http://www.jwtintelligence.com/tag/instagram/

http://socialmediasun.com/instagram-for-business/

http://www.adotas.com/2014/03/big-brands-and-the-business-benefits-of-social-media-pt-2/

http://blogs.constantcontact.com/fresh-insights/instagram-for-your-business-2/

http://corp.wishpond.com/instagram-marketing-resources-for-businesses/interesting-benefits-of-instagram-for-small-business/

http://360.here.com/2014/02/11/how-facebook-twitter-and-instagram-make-here-smarter/

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The Social Media ROI and Cisco systems

This week’s blog is about identifying and discussing Social Media ROI case example. Talking about how ROI was calculated and where if it include all the tangible and intangible benefits? What are the strengths and weaknesses in the chosen approach if any applicable?

In the beginning, let ask this question

Traditionally, what is ROI?

ROI_forumal

The formula for return on investment sometimes referred to as ROI or rate of return, measures the percentage return on a particular investment. ROI is used to measure profitability for a given amount of time.

But Social media ROI is a bit different story …                  ROI_arrow

While in the financial world, the ROI is a way to measure the financial efficiency of a financial investment.

The Social media ROI is unique and more about measuring the digital social media traffic in relation to a company, brand, product or marketing campaign and how to put a dollar value on that as a return.

What is Social ROI
  • Increase in conversation.
  • Open line of communication between your customers.
  • Increase in profits.
  • A return Sale.
  • New potential customers seeing a POSITIVE EXPERIENCE through your social channels.

How to calculate the Social ROI?                calculate_social_media_marketing_roi_return_on_investment_id329093_size485

Searching for ways somehow can calculate the social media ROI, I found a model to be interesting can cover most aspect, It’s called:

The Six Models

  1. The Amplification Model: how much would it cost to buy these impressions/social actions through paid media?
  2. Value of Social Traffic versus Display: how much does it cost to get a visitor to your site via social promotions versus display advertising?
  3. Quality of Visitors from Social Media: how well do the visitors being driven to a site via social media performs?
  4. Revenue from Facebook Fans Model: how much incremental revenue do Facebook fans generate?
  5. Revenue from Social Media Marketing: how many sales can be attributed to your social media marketing programs?
  6. Social Promotions Sales ROI: how many sales can be attributed to a special social media marketing promotion?

As case example I choose Cisco systems for their amazing results.

CISCO

Cisco

Founded 1984, Cisco Systems, Inc. is an American multinational corporation headquartered in San Jose, California, that designs, manufactures, and sells networking equipment.

Cisco engaged with customers, dealers, partners and anyone who interested in their work over the social media networks from an early age. They started with blogs and they went more as the social media networks grow bigger. Cisco realized the value and the important of social ROI, as result they set up SMLC Social Media Listening Centre.

Some of Cisco social media ROI stats:

  • Blogs: 22 external, 475,000 views/quarter
  • Twitter: 108 Cisco feeds with 2 million followers
  • Facebook: 79 groups with 100,000 fans
  • YouTube: 300+ channels, 2,000+ videos, 4 million views
  • Second Life: 150,000 visitors, 50+ events
  • Flickr: 300+ photos, 400,000 views.

And the number has got bigger as the study stats were published in 2010.

The highlight of Cisco social ROI success

  • 9,000 people attended the social media product launch event – 90 times more attendees than in the past
  • Nearly three times as many press articles as with traditional outreach methods
  • More than 1,000 blog posts and 40 million online impressions
  • A Leading Lights award for Best Marketing
  • One-sixth the cost of a traditional launch.
  • Social media helped Cisco shave $100,000+ off a product launch.

Most important fact is that Cisco social ROI drive the company ROI to be 281% annually.

What are the tangible and intangible benefits of the Social ROI?

It is mostly mean short term and long term benefits.

Some tangible benefits “short term”:

  • Inbound Traffic
  • Distribution Channels.
  • Increased “Sharability”.

Intangible benefit is basically described as keep up the good work over time e.g. building digital brand name, delivering the brand experience and most importantly is changing the way to conduct business for the best. These are not always captured by first-click.

Some of the Intangible benefits are:

  • Brand awareness
  • Customer loyalty
  • Engagement through social conversations
  • Engagement due to content
  • Offline channel transactions
  • Personal referrals due to awesome content that adds value

These are hard to put a value against but they are real but soft metrics and should be in your marketing tactics tool box.

Not sure yet more cases to check out in this video, and please leave a comment and share your thought. Thanks…

Social Media monitoring tools and how can they help

This week topic is to explore some of social media monitoring tools that been used today. Select a brand or organization that I am interested in monitoring. Then, I will discuss my experience and reflection using the analysis given by these tools. The organization that I have selected for this analysis is Apple.

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Apple    

Apple Inc., formerly Apple Computer, Inc., is an American multinational corporation headquartered in Cupertino, California that designs, develops, and sells consumer electronics, computer software and personal computers. Founded: April 1, 1976.

Topsy                        Topsy-logo-jpg

Topsy is a real-time search engine powered by the Social Web. Unlike traditional web search engines, Topsy indexes and ranks search results based upon the most influential conversations millions of people are having every day about each specific term, topic, page or domain queried.

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Apple could use Topsy to give instant answers to critical business questions through real time analysis of public conversations.  Topsy analysis report can provide insights into a wide range of business demands.  Everything including: spotting breaking news and identifying customers’ satisfaction issues and concerns.  Moreover as one of the world’s biggest brand names, Apple can use Topsy as their (day to day) social dashboard to discover and track the impact of trending topic and predict future events.  Another value using Topsy is the ability to compare social activity and presence against competitor.

Addict-o-matic           Addict-o-matic_logo

Addictomatic searches the best live sites on the web for the latest news, blog posts, videos and images. It’s the perfect tool to keep up with the hottest topics, perform ego searches and feed your addiction for what’s up, what’s now or what other people are feeding on.

AddictOmatic

Using addictomatic simply type in your search  phrase and the site pulls results from a board scale of sources –Twitter , YouTube , Flickr ,Digg, Yahoo web search and more.

 Apple can use these tools to have a first hand overview about what is being said about the company, its products and services. It can paint the full picture almost instantly.One of the most important benefits, in my opinion, to a company is the ability to monitor the internet reputation or the reputation of the brand and products. In short Apple can hear the conversations that the entire globe is having about them.

HowSociable

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HowSociable has been providing a simple way for how to begin measuring your brand’s impact on the social web since 2008.

They measured over 250,000 brands while requiring zero configuration on the part of the users and only a few seconds wait while they analyse a brand’s presence to calculate initial scores. They analyse a sample of the activity on up to 36 popular websites.                                Soical tools_Howsocial

Apple can easily measure the impact of the brand on the social media or any of released products.

Personally I believe that these tools are an eye opener or I must say a digital eye opener, especially considering the  fact that I had not used them before. They are quite nifty tools to know about. You can get the impact of certain words, products , brands , political movements in a few moments. Topsy and Howsociable both are fast and the result is easy to grasp. While using addictomatic, it did give a good overview about what was being said referencing the searched word from a range of social platforms.  However I found that it did not receive any feedback from twitter and twingly blog searches. In my opinion that is a big drawback, especially in the case of twitter which is one of the biggest used social media networks.

Thank you for reading this post , please leave a comment and share your thoughts…