Empire Avenue:The Stock Market For Web Influencers

The Measure Of Web Influence On Social Media: A Necessary Evil!

Over the last three years, in the wake of Klout, a host of new tools measuring web influence on social media has emerged.  Since the spring of 2009, other startups, such as PeerIndex (South London, UK), Empire Avenue (Edmonton, Canada) and Crowdbooster (Palo Alto, CA) have offered their respective algorithm analysis tool.

Businesses, organizations, web professionals and other users have shown a lot of interest in these new social platforms. Klout and PeerIndex say that their analysis scores for over 100 million users has led them to raise tens of millions dollars in funding to support their respective development initiatives.

In France, Klout quickly became a social phenomenon based on rankings from MinuteBuzz and Wikio.

Today, users can find more than thirty applications and sites on the web allowing them to analyze and compare their scores on social media with other professionals.   Businesses and organizations that have yet to meet the requirements of finding a return on investment can also use the tools.

In the era of personal branding and digital identity, web influence measurement tools offer insights to users which enables them to adjust their presence on social media in terms their users or followers. For web professionals, the extent of influence is therefore necessary, unavoidable and could even be the cornerstone of success on social networks.  Time is needed for these startups to complete the development of their algorithms and their applications before making a final decision. For the most part, they are still in the beta.  It is important to note that each of these new social platforms provides measurement tools and applications that offer different benefits.

For users, these new social platforms have become a bridge linking them to their peers through social media. The success of these tools to measure influence on social networks depends on the balance between the degree of influence (quantifiable and verifiable) and the inter-personal influence (non-verifiable and classifiable) by professionals and entrepreneurs in their communities. From all of the measurement tools available on the web, Empire Avenue is the best application that can find a fair balance between the user and the professional.

More than a sign of influence, a new social platform for web professionals

We can already see the day when the value of what an individual produces and publishes online, including the existing networks will become an important economic fabric of our society” Duleep Wyaijawhardhana (CEO – Empire Avenue).

For many professionals and businesses that use it, Empire Avenue is proving to be the preferred index for measuring influence on social media.

Empire Avenue is a much more than a social game.   We find the following aspects of the application particularly interesting:

  • In assessing the activity of the player in different social platforms, its resonance and level of engagement that is generated, the algorithm first establishes a score for each of the connected social networks. To date, the site offers the possibility to connect to a dozen popular social platforms and RSS feeds of blogs. Each page is evaluated according to different weighting and the five most important results are compiled for the final score of users. This allows users to obtain a more complete picture of their presence through social media.
  • As for the trading activity, the player sees its rating fluctuate in real time, depending on the level of activity on the different platforms that are connected.   Integrating the concept of buying and selling virtual shares in its approach, Empire Avenue also leads to a higher level of commitment from other players, which then become accountable to their shareholders.

“By purchasing shares in someone on Empire Avenue, you state publicly that this person is worth the investment. An investment that involves an implicit endorsement of several other aspects of that person “says John C. Havens (Tactical Transparency), in his article “Why Social Accountability Will Be The New Currency Of The Web“, recently published on Mashable.

By adopting the gamification stock market in its approach, Empire Avenue promotes a level of interactivity between players unlike Klout or PeerIndex.   On Empire Avenue, several communities of players are naturally formed from the users who share their tips and tricks. Meanwhile, other communities of interest are created to put forward more concrete collaboration on projects of social support and charities. In particular, the international fundraising community (crowdfunding) KIVA, has already enabled many independent contractors in developing countries to obtain loans to start their business.  (Note: Please watch for more on this topic in a future post.)

Empire Avenue is a lot more than a popular new social game or another measure of influence on social media. Beyond the score, professionals and businesses can find a new space for exchange and collaboration that is not included on other social platforms. In doing so, EAV is already one step ahead of Klout, PeerIndex and other applications by offering more.

If you have to select only one measurement tool for beginners, I recommend Empire Avenue. In addition to evaluating your influence on all your social networks, including your blog, you will perhaps meet (virtually) new individuals.  Beyond the extent of influence, Empire Avenue offers a new opportunity for professionals to expand their network and achieve their goals. What few professional social platforms have managed to do so far.

What do you think? Share your thoughts and comments on the subject.

Next post: Empire Avenue: Five (+1) tips for web professionals

Want To Know More?

Please read our past post:

About The Author:

Source: Paul Labelle, Photographer

 

Author of the books, “Culture Web à la portée des PME” and “Comment entreprendre le virage 2.0” Raymond Morin has written for several magazines over the past 10 years. Very active on social media, he has contributed to several online publications as guest blogger, including Trinity College School, Locita, and Intelegia. Raymond is a corporate trainer and is regularly invited to give lectures and training workshops to companies and organizations. In collaboration with Intelegia, and Ian Smith, Raymond is preparing for the release of a new book, “Comment devenir un influenceur dans les médias sociaux”