Verifeed presentation 100413_ny press club_final
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This document introduces Verifeed, a company that provides real-time social media analysis and contextualization. It is founded by Melinda Wittstock to help brands and media organizations make sense of large amounts of social data by using algorithms to identify patterns, contextualize information, and qualify sources, similar to what investigative journalists do intuitively. The document describes how Verifeed acquires social data, engages sources and readers, and helps clients monetize their content through subscriber acquisition and advertising. It provides an example of how Verifeed helped an NBC affiliate drive more traffic and engagement through custom social media coverage of a basketball tournament.
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Verifeed presentation 100413_ny press club_final
- 2. Melinda Wittstock Serial Entrepreneur Award-winning Journalist Media-Tech Exec Social Media Maven Mother of 2 (plus a dog) So who am I? Founder & CEO Verifeed
- 3. …and its growing faster than Moore’s Law. Think about it. Brands THE AMOUNT OF DATA CREATED ON TWITTER & FACEBOOK TODAY IS MORE THAN THE DATA BEING CREATED ON THE REST OF THE WEB.
- 5. How can you trust a Tweet or a post?
- 7. Why is Verifeed’s IP different? We replicate – with algorithms and automated processes – what an investigative and analytical journalist does intuitively to be first and right. —Looks for patterns —Puts developments in context —Qualifies source reputation / expertise
- 8. Drive revenue Source and publish trusted contextual social content Identify, engage, and reward sources, ambassadors We make sense of the world’s social conversations so media can: Our mission at
- 9. How does it work? Acquire Identify, qualify, interact & recruit targeted readers, sources & subscribers in real time 500 million Tweets every day: Verifeed finds Tweets valuable to you Engage Inspire loyalty & ‘word of mouth’ network effects via contextually relevant conversations Monetize Motivate ‘ambassadors’, boost traffic, time on site & viral uptake, increase ad & subscription revenue Discover Get valuable insights into breaking news, issues, trends, influencers & customers
- 10. NBC affiliate Ft Wayne: Increase traffic & Twitter referrals Boost time on site Verifeed Action: Enable custom real-time publishing of contextual social conversations around ‘March Madness’ basketball Filter out irrelevant & unreliable posts, repetition and ‘noise’ Engage and reward most credible influential sources to drive ‘word of mouth’ viral adoption and loyalty Identify and interact with targeted users to convert into subscribers New story angles & qualified sources Twitter referrals up 129% Time on site up from 10 to 26 seconds
- 11. The Dashboard
- 23. Thank You Trusted social intelligence Melinda Wittstock | CEO & Founder Melinda @ Verifeed.com 202 274 1479 @Veriate
Editor's Notes
- If information had a ‘gold standard’ what would it be?Think of what makes information valuable to you. It’s got to beuseful. So it needs to be relevant. Accurate. From a trusted source. All in the moment. At Verifeed we mine for ‘information gold’ by filtering social streams in real time … to provide enterprises and small businesses alike with actionable and trusted social intelligence.We’re truly unique in our approach to social data analytics in that we replicate – with algorithms and automated processes – what an investigative and analytical journalist does intuitively to be first and right:Looks for patterns, puts developments in context, qualifies source reputation / expertise.
- So who am I? My grandmother was the first to call me disruptive at age 5 when I landed my first $100 in revenue. Got neighbors to pre-pay for my “show”. I’ve done a lot of things in my life but nothing is as exhilarating as the roller-coaster ride of innovation and learning otherwise known as founding a big data technology business. Verifeed is my third business, and I’ve had my share of hard knocks – see there it is, MBA from the School of Hard Knocks. It has not been easy to raise funding (women get 2% of VC capital) – and it may be something to do with the fact that we don’t fit the pattern. At Verifeed we’re all about pattern recognition, and well, I never dropped out of Stanford or Harvard, never spent any time in my garage, and arrived where I am with deep domain expertise, knowledge and executive experience trying to disrupt from within large companies … and starting them. And as women, we bring a different approach to a sector rife with A-to-B linear point solutions – in a moment you’ll see how our approach is more holistic, systems oriented, A to B, plus C, and a little bit of D cross referenced with X and Y, and honey your socks are over there.
- Think about it. 300 billion gigabytes of social data, three times the grains of sand on earth doubling every two years.
- No wonder a lot of media companies, businesses and brands feel like this. It’s not easy to figure out how best to harness Social Data in a meaningful way to derive valuable insights, identify and engage customers / end users and monetize content in an age of Infobesity.
- And it’s not just the growing inefficiency around finding the right information; it’s about knowing what is accurate, what you can trust. We all know how we can get it wrong! I come from a long and award-winningjournalistic background - from the Times of London and the BBC to ABC News and news companies I have founded, including Capitol News Connection. The problem I’m trying to solve is a big one: information has no value unless you know you can rely on it. Even as a journalist, with several Murrows under my belt, I knew I could often get it wrong. Every day I chose who to interview, what parts of the interview to include in my stories, and what questions to ask. I was only as good as my cumulative knowledge, my ability to seek patterns in data, know when I was being used or lied to, or when a source had a hidden agenda. Not easy .
- In the wake of the erroneous reports on Navy Yard shooting, NPR’s On the Media helpfully published this. Turns out it is a good guide to the processes and editorial controls we are replicating with automated processes and algorithms.
- Our key differential is right there in our name: verification.We believe our approach to ‘cracking the code’ of veracity/accuracy with automated algorithmic processes is superior to sentiment (which cannot discern intent let alone accuracy) and other current approaches. Melinda was often first to discover game-changing, market moving and transformational stories – and first to understand where the story was going next. Her formula was a mix of pattern recognition, source qualification and cumulative knowledge, separating commonalities from outliers, and cross-referencing or weighting outliers with source reputation, expertise, proximity (first hand or second hand account) and discerning agendas (who gains, who loses) by ‘gaming’ out a story. Verifeed’s algorithms and algorithmic roadmap leverage these processes. Here are just four ways in which we execute:Weighted expertise. Cross reference LinkedIn API with data mined from Twitter/Facebook and other social profiles to establish expertise relative to a user’s post – and assign a weight accordingly.Strength in numbers. Multiple sources in agreement strengthens the probability of accuracy. Our systems will detect ‘outliers’. For instance a one-off report like the hacked AP tweet would have been flagged as questionable, irrespective of the source: if a bomb had gone off in the White House there would have been a deafening number of tweets. First hand vs. second hand. Eyewitness reports are more likely to be true. We already dig into each tweet to see if it has a link or not, and dig into the meta data of the link to establish whether it is a first hand or second hand account. Geolocation will also be used to establish proximity to an event.Authenticity. Cross reference Tweet timeline to see if person really is where they say they are, and how much expertise they have built in a topic area, including how much of a following they have.
- So back to Verifeed … makes sense of the world’s conversations – for companies that need to be::: First to know – and right – like journalists and increasingly marketing strategists:: Closer to their customers like consumer brands who need to source fresh insights, identify and reward ambassadors, engage people around contextual social content:: Focused on aggregating high value users and driving traffic, time on site and other metrics to monetize content via advertising and subscriptions such as broadcasters and publishers
- We monitor social conversations, starting with the entire Twitter firehose – that’s 500 million tweets a day. But which ones are valuable to you … in the moment…and why? Our algorithms and processes filter and parse to enable you to… acquire, discover, engage and monetize. You need to know you can trust the “what” and you also need to evaluate the credibility and influence of the “who”.
- Partners can use our platform any way they want to enable simple or complex filters – and they can publish the results with customizable web widgets.