the wisdom of crowds

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  • 1.The Wisdom Of CrowdsCROWDSOURCING FOR PRODUCERS Blaine Graboyes April 30, 2012 The New School

2. The crowdsourcing phenomenon has had many successstories in the entertainment industry in recent years, fromYair Landaus crowd-sourced animation project in 2008, tothe phenomenal rise of Kickstarter for crowd funding. Now, crowdsourcing is being used by major brands tomake marketing decisions; motivate feature lm and t.v. audiences, and create dedicated distribution channels.This session will examine different angles of crowdsourcing. 3. How do you makedecisions from crowds? Metrics! 4. Lets examine one of themost powerful metrics... K-Factor 5. K-Factor = Crowds 6. K-Factor denes theviral rate of social growth 7. How did CityVille How did Pinterestreach 70MM players?acquire 20MM new users? K-FactorHow did Draw Somethinggrab 35MM players?How did Instagraminspire 1B photos? 8. K-Factor ...is also known as the viral coefcient andis borrowed from epidemiology where it describes the spread of actual virusesImage From: Spreading Patterns of Mobile Phone Viruses 9. K-Factor is the product of distribution and infection"Distribution" measures how manypeople, on average, a host will makecontact with while still infectiousK-Factor = Distribution x Infection"Infection" measures how likely aperson is, on average, to also become infected after contact with a viral hostExcerpt From: Wikipedia 10. K-Factor is a product of the rates of distribution and infection for an app (or virus) K-Factor Rules Of Thumb"Distribution" measures how manypeople, on average, a host will makecontact with while still infectiousIf K-Factor is....< 1 than your in decline and needx Infection K-Factor = Distribution to make improvements= 1 thanyour in a steady state with no growth> 1 than you are experiencing some degree of viral growtha "Infection" measures how likely 1.5 than you are minting your own gold coins to) also become person is, on average, : infected after contact with a viral host 11. Example OfDramatic Growthvia K-FactorCityVille GrowthIn One Month! Data From: Silicon Alley Insider 12. Example OfDistribution Activity40-60% Of Pinners Are Active Hosts!Data From: RJ Metrics 13. Example OfDramatic Growthvia K-FactorDraw Something In One Month!Data From: AppData.com 14. Example Of Dramatic Growth via K-FactorInstagramvs. Facebook & FlickrData From: mattryall.net 15. If you are not currently tracking these metricsSTOP EVERYTHING and implement a basicmetrics program today! Sketch From: VisionHelp 16. FundraisingDonationDonors Donors$59,000,000 $10 = 5,900,0005,900,000 Participants Actions Contacts Contacts450,000x10 = 4,500,0004,500,000 =K-Factor = Distribution x Infection 1.3 17. FundraisingDonationDonors Donors$59,000,000 $10 =5,900,000 5,900,000 Participants ActionsContactsContacts450,000x10 =4,500,000 4,500,000= Each Distribution Resulted In 1.3 InfectionsK-Factor = Distribution x Infection 1.3K-Factor = 1 x 1.3K-Factor = 1.3 Example From: Movember.com 18. If you dont have any facts,well just use my opinion. Jim Barksdale (former president and CEO of Netscape) Excerpt From: Data Driven Decisions For Startups 19. blaineglobalFor Tips On Improving K-Factor Download: blaineglobal.com/metrics.pdf