(Updated) Um, Facebook, This isn’t Great

Engagement with brand content is evidently dropping  pretty dramatically. As a guy that went all in on Facebook when i was in a seat to influence a lot of media spend, this is concerning. For brands, it’s obviously bad. For consumers, it’s probably a win of sorts.

These numbers are even more striking when you consider engagement is significantly down even though brands are almost certainly spending more money to promote their posts to combat plummeting organic reach. Facebook’s ad revenue reached $2.27 billion in Q1 2014, up 82 percent from Q1 2013.For brands on Facebook, these are dark days. They can choose to spend more money to reach fans they had already accumulated in the past, but Facebook will likely decrease branded reach even further.

But, this also speaks to challenges in the FB ad model from the brand perspective. It seems like Facebook is  resorting to limiting organic impression supply (by tweaking the algorythm to lessen brand reach), making it more important for brands to pay to get the exposure.  The main reason i believed Facebook was a great platform was the  combination of organic and efficient paid reach. With the constant tweaks to the organic reach black box, that mix (of organic and paid) gets less attractive and FB becomes just another paid ad platform.

UPDATE 6/18/14: I think i buried the lede here. The point i was REALLY trying to make is that it looks like Facebook is losing one of the aspects that made it so attractive in the first place: It enable brands to build deeper relationships (that’s good) while also building a more modern media mix, one that delivered a beneficial combination of owned and earned media and paid. The less organic reach a brand can generate, the more they have to pay to get the reach, the less attractive the original value proposition is.

via New Report Reveals Just How Drastically Brand Engagement is Plummeting on Facebook | The Content Strategist, by Contently.

This seems like magic: Aluminum-air battery

I hope my sons can figure stuff like this out:

Phinergy batteries use a porous  electrode with a large surface area that captures the oxygen from ambient air. The electrode also contains a silver-based catalyst that doesn’t let CO2 interact with it. This unique and proprietary catalyst solves a common problem in air-battery technology, carbonization caused by CO2 permeating the electrode.

via Aluminum-air battery demonstrates extended range for EVs..

Nice Write up of EventJoy’s Feature Dev Process

While we have an endless list of amazing things we might want to build into the platform, we ultimately determine what those are through customer input. We’ll do this either through quantifying feedback i.e. what are people asking for the most or if we do have a new idea, we’ll run it by users first. From there we typically prioritize against short-term goals on what will move the needle most.

via Eventjoy – On Startups: How we develop new features extremely fast.

The BlockChain is the Beauty Inside Bitcoin

I need to come back and write up a clear article on this, but i’ve been digging deep into Bitcoin. Not the cryptocurrency part, but the actual protocol behind it. The think i’m curious about: What else could we apply the blockchain concept to. That is, what kind of decentralization can happen when there is a secure, transparent, open, scriptable, public ledger holding the system together.

Lots more to think about,  but here’s a couple important articles for my own future reference:

 

Brand Nerds: Read About Betaworks New Brand Mark

Quote:

I’ll be honest, I didn’t particularly like it at first. I don’t think John did either. We both loved the idea behind it, but it was not instantly likeable -because it was complex. The shapes do not make sense on first glance. The elements are all taken from Babbage’s drawing , they are actually parts of the typeface, but laid together to form a shape that is…that is what? I guess that is the point.

via A Fresh Look for betaworks — Digital Media Strategies — Medium.

Lessons For Marketers in the NYT’s Leaked Innovation Report

The New York Times 2014 Innovation Report is an extraordinary document. Extraordinary in that it  exists at all, for one thing. But, also extraordinary for the honesty and candor in the analysis provided by the authors.

We’ve all watched the news business getting transformed over the years by blogs, the web, Google, etc. Now we can read the report from inside a pre-eminent news organization, written by a handpicked group of leaders given the mandate to tell the truth to power (well, their bosses).

But, at the same time, it’s an exceptionally useful document for marketing leaders who are struggling to thrive in a time of rapid, seismic changes. Digital, however you want to define it, is creating almost unlimited opportunities to create new growth, reach new audiences, and work in different ways. Call it creative destruction, transformational innovation, or just reinvention; we’re all going to have to deal with it. The news business is at the front of many of these changes, but eventually all business, from cars to cereal will have to deal with them. So, we can learn a lot about what to do (and what NOT to do) by reading this report carefully.

While it was unfortunate that this document was leaked, we nonetheless have it as a story of a great organization at the mid-point of a life-or-death struggle. Here are just a few lessons  brand builders can take away.

Be Honest With Yourself, First – One of the more remarkable things about this document is that it doesn’t seem to hold many punches. It calls out specific projects, departments, etc. Its a seemingly honest assessment of what’s working and not working. Not self-flagellating, but also not overly optimistic about what’s really going on. Marketing leaders should take on this kind of assessment every other year, at least. A hard look, done by trusted mid-level leaders, those with enough understanding of how things really work on the execution level but also have a broader strategic sense about what the organization can be and needs to get there.

Understanding how Disruption Works is the First Step to Disrupting Yourself - With everyone talking about innovation all the time, you’d assume everyone understands what “Innovation” really is. But, wisely, the writers spend a couple pages outlining Clay Christensen’s Disruptive Innovation process. And, they even provide a cheat sheet for their new competitors. As leaders, we should understand that disruptive innovation actually is kind of predictable and it will hit every industry at some point. Get your teams to understand this, and it’s the first step to creating the kind of innovations that disrupt the business on your terms vs. waiting for someone else to do it to you.

Reconsider What You’ve Always Taken For Granted – The report advocates a recommitment to audience development strategy, to re-examine how they are getting the news in front of people.  For generations, the Times could assume an audience existed, was reachable in a predictable way, and cared about the product. But, that audience is easily swayed, distractible, and, in the end, not so easy to reach. Now, the Times has to re-learn how to reach it’s audience, weaving a news set of skill into the newsroom. All leaders should be rethinking the parts of the model they’ve always taken for granted.

Digital First is Much More than a Buzzphrase - For the times, it’s a flip from “a newspaper that also produces a rich and impressive digital product” to “A digital publication that also produces a rich and impressive newspaper”. That’s over-simplified, but that mental model flip is one that most marketing organizations need to make if they haven’t already made. A mobile, digital way of building the brand that is amplified at scale by traditional media is  “digital first” for most marketers.

Culture Change is a Mofo - This is really a document describing wrenching culture change in slow motion. The capabilities, the technology, the tools will all be relatively easy to update. But, the talent, the leadership, the skills, the mindset needed to thrive in a digital-first world at the Times will be incredibly difficult to weave into the organization. The leaders will have to remake their culture from the inside without losing the best of what got them there.

Finally, the real story here is that the leaders of this organization recognized they were out of synch with their times and they turned to 8 trusted insiders to figure it out. That’s courage. We can all learn from them.

There are dozens and dozens of smaller nuggets in the document. It’s so rare for a business leader to get a peek into another organizations’ strategy development process that i imagine this will be a document i go back to and re-read multiple times.

Here are a couple other great writeups:

Finding Talent in the Digital Haystack: 6 Interview Questions That Tell All

I just published my first piece on Medium. It’s a quick overview of the 6 interview questions i use all the time to help me understand the way job candidates think. A couple observations:

  • I love Medium. It’s such an easy tool to use. Between WordPress and Medium, i believe writing for the web is easier than ever
  • I really like those six questions, but i think there are a couple more. That’s for the next post.

I’ve gotten some good reaction already to the questions, and it’s gratifying that people find them useful. Let me know if you have any additional questions i should be asking.

This Advice From IDEO’s Nicole Kahn Will Transform the Way You Give Presentations

It’s shocking how many people give presentations that will make or break their careers without rehearsing beforehand. Rehearsing is uncomfortable. It seems time consuming. It electrifies all the nerves you know you’ll be feeling during the real deal. But the only way to optimize your performance when it truly counts is to practice, Kahn says.

via This Advice From IDEO’s Nicole Kahn Will Transform the Way You Give Presentations.

I taught America to beat the SAT. That’s how I know it’s useless. | MSNBC

We need a new organization to oversee college admissions testing, and we could do it for far less than a half billion dollars, while making the entire process less stressful. This organization should neither administer nor profit from tests; it should only be a coordinating body. It should structure the testing system in a way that guides students into the right colleges and increases graduation rates. The organization must be accountable, and should be measured by how much it improves outcomes for students.

via I taught America to beat the SAT. That’s how I know it’s useless. | MSNBC.