the wisdom of crowds

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The Wisdom Of Crowds CROWDSOURCING FOR PRODUCERS Blaine Graboyes – April 30, 2012 – The New School

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Page 1: The Wisdom Of Crowds

The Wisdom Of Crowds

CROWDSOURCING FOR PRODUCERSBlaine Graboyes – April 30, 2012 – The New School

Page 2: The Wisdom Of Crowds

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.

Page 3: The Wisdom Of Crowds

How do you make decisions from crowds?

Metrics!

Page 4: The Wisdom Of Crowds

Let’s examine one of the most powerful metrics...

K-Factor

Page 5: The Wisdom Of Crowds

K-Factor = Crowds

Page 6: The Wisdom Of Crowds

K-Factor defines theviral rate of social growth

Page 7: The Wisdom Of Crowds

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?

Page 8: The Wisdom Of Crowds

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

Page 9: The Wisdom Of Crowds

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

Page 10: The Wisdom Of Crowds

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....

Page 11: The Wisdom Of Crowds

Example OfDramatic Growth

via K-Factor

CityVille GrowthIn One Month!

Data From: Silicon Alley Insider

Page 12: The Wisdom Of Crowds

Example OfDistribution Activity

40-60% Of PinnersAre Active Hosts!

Data From: RJ Metrics

Page 13: The Wisdom Of Crowds

Example OfDramatic Growth

via K-Factor

Draw SomethingIn One Month!

Data From: AppData.com

Page 14: The Wisdom Of Crowds

Example OfDramatic Growth

via K-Factor

Instagramvs. Facebook & Flickr

Data From: mattryall.net

Page 15: The Wisdom Of Crowds

If you are not currently tracking these metricsSTOP EVERYTHING

and implement a basic metrics program today!

Sketch From: VisionHelp

Page 16: The Wisdom Of Crowds

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

÷

Page 17: The Wisdom Of Crowds

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

Page 18: The Wisdom Of Crowds

“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

Page 19: The Wisdom Of Crowds

blaineglobal

For Tips On Improving K-Factor Download:blaineglobal.com/metrics.pdf