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From Connection to Innovation:
Measuring Social Media Technology’s Impact
on Community and Business Well-Being
in Techvill...
#wearenashville. #wearechatty.
Healthy blogging
community in mid-
2000s
Strong
representation on
Twitter and in other
soci...
Is our participation productive?
Harnessing Participation for Progress
Boosterism
Innovative
Applications
Advancement
A Case for Alternative Measures
• Global Peace Index
• Happiness economics
• Legatum Prosperity Index
• Philosophy of happ...
Gross National Happiness
• Psychological Well-being
• Standard of Living and Happiness
• Good Governance
• Health
• Educat...
Genuine Progress Indicator
• + Personal consumption weighted by income distribution index
• + Value of household work and ...
Improving Metrics that Matter
• Recruitment of Tech Talent to Nashville
• Retention of Tech Talent in Nashville
• Tech Sec...
The Health of Techville’s
Tech Community
• Talent Availability
– Influenced by boosterism?
• Tech grads attrition
• Tech t...
But we don’t
want to be
Silicon Valley.
But we
don’t want
to be
Atlanta.
But we
don’t want
to be
Austin.
Of course not. We want to be
• Music City.
• Techville.
• Nashvegas.
• Smashville.
• #wearenashville
Not Just About the Joneses
• People prefer to live in a world in which they receive an
annual salary of $50,000, when othe...
The Happiness of Techville’s
Tech Community
• Connectedness
• Identity
• Integrity
• Relative Success
Measuring Community Happiness
• Social Sentiment
– Text analysis of the sentiment of social shares and
statuses
• Social C...
Social Networks and Health
• Social connectedness relevant to health
• “social network transmission may be one
mechanism t...
The Means to Acquire the Metrics
• Integrating service APIs
• Alternative views of mundane data
• Analyzing and data story...
Alternative Views of Mundane Data
The Means to Impact the Metrics
• Guitars and Gamification
• Happiness Contagion
• Weak Ties + Offline Connectedness = Str...
We Don’t Do “Weak Ties” in Music City
• Connecting Nashville’s connectors
• Online contacts become offline connections
From Connection to Innovation
Part 2: James Soto, Joshua Camp, Joey Strawn
Setting the Stage
1. Share insights as to how Nashville stacks up
as a tech community
2. Assess if the current metrics we ...
DIGITAL STALKING
Thanks for the Invitation?
FEATURING
THE NASHVILLE TECH GENOME
Can We Mind Map Nashville’s Technology Ecosystem
NTC as an Indicator
Nashville Technology Council Membership
Tech Members
Social Media & Marcom
Technology
Growing Tech Community
350
400
450
2011
2012
NTC Membership
NTC Membership
Tech Entrepreneurship
Exploring ways to
Measure Techville’s Progress
• Gross Domestic Product
(GDP)
• Genuine Progress
Indicator (GPI)
• Social ...
ENTER SOCIAL METRICS
From Traditional to Technology Measurement
The Chicken and the Egg
Does economic growth lead to happiness or
does happiness lead to economic growth?
Where do we real...
#WeAreDriven
“New firms add an average of 3 million jobs in
their first year, while older companies lose 1
million jobs an...
Sources, Tools, and Technology
• Startup Genome Project
• Angel list
• University of Chicago, SM Impact Study
• Nashville ...
Nashville’s Digital Growth
2011
NTC member companies - 390
Social & Digital Media Members - 63
2012
NTC member companies -...
Average Lifespan of a Funded Startup
- Shikhar Gihash; Harvard Business School
• 70-80% Never see an ROI
• 30-40% liquidat...
Old Data = Tired Results
…yet we continue to measure Key Performance
Indicators as though they should still be based
on a ...
The Typical ‘Old School’ Example
GDP includes ‘negative’ expenditures such as
burglar alarms, daycare, self-defense and fa...
Objective Vs. Subjective Social Indicators
• Unemployment
• Poverty Rate
• Working Hours per Week
• Perinatal Mortality Ra...
The real problem
• Investing in socioeconomic initiatives based
on a perceived benefit, with the only real goal
being to i...
It’s Easy!
• It’s EASY to pull outdated statistics and ignore
the CURRENT situation
• It’s EASY to see that unemployment i...
Social Media to the Rescue?
• Ok, so maybe it’s really just time to re-
evaluate our methodology
• What are we measuring i...
The REAL question?
• How can we identify, and then act on the
present state of our community and
implement changes that wi...
Measuring Startup Attraction Potential
• Entrepreneurship Spirit
• Legal Environment
• Availability of Talent
• Infrastruc...
Overhauling the Social Indicators
City Services Quality of Life
Nashville’s Connectedness
Benchmarking Nashville’s 49 Inc. 5000’s
LinkedIn – 88%
Facebook - 76%
Twitter - 65%
Google+ - 20...
Stop, Look, and Listen
Benchmarking Greatness
*Austin
*Palo Alto
*Boston
*Raleigh
*Tampa
Global Marketing Technology Startup ‘Chatter’
Benchmarking Greatness
Nashville
*Austin
*Palo Alto
*Boston
*Raleigh
*Tampa
Vs.
Global Marketing Technology Startup ‘Chatt...
Actionable Intelligence
Nashville Ranked 43/75 in 2011
Benchmarking our Future with new metrics
In a Nutshell
@JoshuaCamp
@Joey_Strawn
@JamesSotoISM
@ISMSocial
#marketstrong
@JoshuaCamp
@Joey_strawn
@JamesSotoISM
@ISMSocial
#marketstrong
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techvill...
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From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techville and Beyond

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presented at the Techville 2012 conference held by the Nashville Technology Council in May 2012 by Kate O'Neill, James Soto, Joshua Camp, and Joey Strawn

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From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techville and Beyond

  1. 1. From Connection to Innovation: Measuring Social Media Technology’s Impact on Community and Business Well-Being in Techville and Beyond Part 1: Kate O’Neill
  2. 2. #wearenashville. #wearechatty. Healthy blogging community in mid- 2000s Strong representation on Twitter and in other social channels Fans, friends, followers of beloved local brands (Yazoo, Opry, etc.) #34 city on Tweet Grader
  3. 3. Is our participation productive?
  4. 4. Harnessing Participation for Progress Boosterism Innovative Applications Advancement
  5. 5. A Case for Alternative Measures • Global Peace Index • Happiness economics • Legatum Prosperity Index • Philosophy of happiness • Post-materialism • Psychometrics • Satisfaction with Life Index • Utilitarianism • World Values Survey • Gross National Cool
  6. 6. Gross National Happiness • Psychological Well-being • Standard of Living and Happiness • Good Governance • Health • Education • Community Vitality • Cultural Diversity and Resilience • Time Use and Happiness • Ecological Diversity and Resilience
  7. 7. Genuine Progress Indicator • + Personal consumption weighted by income distribution index • + Value of household work and parenting • + Value of higher education • + Value of volunteer work • + Services of consumer durables • + Services of highways and streets • - Cost of crime • - Loss of leisure time • - Cost of unemployment • - Cost of consumer durables • - Cost of commuting • - Cost of household pollution abatement • - Cost of automobile accidents • - Cost of water pollution • - Cost of air pollution • - Cost of noise pollution • - Loss of wetlands • - Loss of farmland • -/+ Loss of forest area and damage from logging roads • - Depletion of nonrenewable energy resources • - Carbon dioxide emissions damage • - Cost of ozone depletion • +/- Net capital investment • +/- Net foreign borrowing • = GPI http://en.wikipedia.org/wiki/Genuine_Progress_Indicator
  8. 8. Improving Metrics that Matter • Recruitment of Tech Talent to Nashville • Retention of Tech Talent in Nashville • Tech Sector Development • Tech Entrepreneurship • Overall Livability and Quality of Life
  9. 9. The Health of Techville’s Tech Community • Talent Availability – Influenced by boosterism? • Tech grads attrition • Tech talent likelihood to stay • Investment
  10. 10. But we don’t want to be Silicon Valley. But we don’t want to be Atlanta. But we don’t want to be Austin.
  11. 11. Of course not. We want to be • Music City. • Techville. • Nashvegas. • Smashville. • #wearenashville
  12. 12. Not Just About the Joneses • People prefer to live in a world in which they receive an annual salary of $50,000, when others are pulling in $25,000, than an annual salary of $100,000 when others are making $200,000. • Social comparison, status and rank more important than the absolute value of our bank accounts or reputations • How we spend money influences our individual happiness: “Spending money on anything that promotes personal growth -- French lessons, say, or a cooking class -- tends to make us happier, as does spending money on social outings, compared to spending money on solitary endeavors” http://knowledge.wharton.upenn.edu/article.cfm?articleid=2675
  13. 13. The Happiness of Techville’s Tech Community • Connectedness • Identity • Integrity • Relative Success
  14. 14. Measuring Community Happiness • Social Sentiment – Text analysis of the sentiment of social shares and statuses • Social Connectedness – Analyze networks and connectedness for indicators • Self-Reporting • Readily quantifiable economic indicators
  15. 15. Social Networks and Health • Social connectedness relevant to health • “social network transmission may be one mechanism through which both beneficial and adverse effects are mediated.” • http://www.bmj.com/content/337/bmj.a2781 .short
  16. 16. The Means to Acquire the Metrics • Integrating service APIs • Alternative views of mundane data • Analyzing and data storytelling
  17. 17. Alternative Views of Mundane Data
  18. 18. The Means to Impact the Metrics • Guitars and Gamification • Happiness Contagion • Weak Ties + Offline Connectedness = Strong Ties
  19. 19. We Don’t Do “Weak Ties” in Music City • Connecting Nashville’s connectors • Online contacts become offline connections
  20. 20. From Connection to Innovation Part 2: James Soto, Joshua Camp, Joey Strawn
  21. 21. Setting the Stage 1. Share insights as to how Nashville stacks up as a tech community 2. Assess if the current metrics we use to assess tech community health and happiness work 3. Explore how community, corporate and public sector social media connectivity and adoption plays a role 4. Use a few tools of the trade
  22. 22. DIGITAL STALKING Thanks for the Invitation?
  23. 23. FEATURING
  24. 24. THE NASHVILLE TECH GENOME Can We Mind Map Nashville’s Technology Ecosystem
  25. 25. NTC as an Indicator Nashville Technology Council Membership Tech Members Social Media & Marcom Technology
  26. 26. Growing Tech Community 350 400 450 2011 2012 NTC Membership NTC Membership
  27. 27. Tech Entrepreneurship
  28. 28. Exploring ways to Measure Techville’s Progress • Gross Domestic Product (GDP) • Genuine Progress Indicator (GPI) • Social Media Chatter • Social Media Adoption • Mind Map • API’s • Listening
  29. 29. ENTER SOCIAL METRICS From Traditional to Technology Measurement
  30. 30. The Chicken and the Egg Does economic growth lead to happiness or does happiness lead to economic growth? Where do we really start?
  31. 31. #WeAreDriven “New firms add an average of 3 million jobs in their first year, while older companies lose 1 million jobs annually” -2010 Kauffman Foundation Study
  32. 32. Sources, Tools, and Technology • Startup Genome Project • Angel list • University of Chicago, SM Impact Study • Nashville Technology Council • Aberdeen • US Bureau of Labor Statistics • Radian6 and Our Social Arsenal
  33. 33. Nashville’s Digital Growth 2011 NTC member companies - 390 Social & Digital Media Members - 63 2012 NTC member companies - 431 Social & Digital Media - 65
  34. 34. Average Lifespan of a Funded Startup - Shikhar Gihash; Harvard Business School • 70-80% Never see an ROI • 30-40% liquidate entirely in the first 3-5 years
  35. 35. Old Data = Tired Results …yet we continue to measure Key Performance Indicators as though they should still be based on a limited system of compiling the same old tired data that yields erroneous results
  36. 36. The Typical ‘Old School’ Example GDP includes ‘negative’ expenditures such as burglar alarms, daycare, self-defense and fails to capture social investments into the community. In other words, welfare takes a back-seat to cash flow, which is where GPI comes back in
  37. 37. Objective Vs. Subjective Social Indicators • Unemployment • Poverty Rate • Working Hours per Week • Perinatal Mortality Rate • Life Satisfaction • Job Satisfaction • Perception of Liberty • Personal Areas of Importance • Environmental Concerns
  38. 38. The real problem • Investing in socioeconomic initiatives based on a perceived benefit, with the only real goal being to improve that very perception or single metric. • No standard for how to correlate • No standard for what to measure, monitor, or how to correctly interpret the data
  39. 39. It’s Easy! • It’s EASY to pull outdated statistics and ignore the CURRENT situation • It’s EASY to see that unemployment is high and think “we need jobs” • It’s EASY to see that crime is on the rise and proclaim “We need more police!” • It’s EASY for the public to see education costs rising and it’s EASY for them to to cry “Debt Forgiveness!”
  40. 40. Social Media to the Rescue? • Ok, so maybe it’s really just time to re- evaluate our methodology • What are we measuring in the first place, and how? With what tools?
  41. 41. The REAL question? • How can we identify, and then act on the present state of our community and implement changes that will give us a true ‘edge’ as a technology hub?
  42. 42. Measuring Startup Attraction Potential • Entrepreneurship Spirit • Legal Environment • Availability of Talent • Infrastructure • Capital Availability • Community Sentiment and Support
  43. 43. Overhauling the Social Indicators City Services Quality of Life
  44. 44. Nashville’s Connectedness Benchmarking Nashville’s 49 Inc. 5000’s LinkedIn – 88% Facebook - 76% Twitter - 65% Google+ - 20% Youtube - 29%
  45. 45. Stop, Look, and Listen
  46. 46. Benchmarking Greatness *Austin *Palo Alto *Boston *Raleigh *Tampa Global Marketing Technology Startup ‘Chatter’
  47. 47. Benchmarking Greatness Nashville *Austin *Palo Alto *Boston *Raleigh *Tampa Vs. Global Marketing Technology Startup ‘Chatter’
  48. 48. Actionable Intelligence Nashville Ranked 43/75 in 2011 Benchmarking our Future with new metrics
  49. 49. In a Nutshell
  50. 50. @JoshuaCamp @Joey_Strawn @JamesSotoISM @ISMSocial #marketstrong
  51. 51. @JoshuaCamp @Joey_strawn @JamesSotoISM @ISMSocial #marketstrong

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