Do YOU have Klout?

     In finance, one is asked to analyze “meaningful comparisons” or ratios to determine the health of a company. One looks for trends, crunches numbers, and collects numerical data in order to determine how “well” a company is doing.  We look at profit, sales, expenses, stock prices, assets, and debt and review how our numbers compare to similar companies within our own industry. This information helps business owners to determine whether or not to make changes in the future, can reflect success of past business decisions, and may reveal indicators of needed changes to some of our business practices.

     As musicians, artists, party promoters, and individuals in the entertainment industry, you may ask, “What does this have to do with me? I don’t own a business, I just do what my record label (or parent company tell me to do.)” Whether you own a small business or are a rock band on tour, your goal is to influence your target audience. You are selling a physical product, an idea, or an image and as important as is to keep track of your financial health, it is equally important to measure your sphere of influence.

     Social media is how most entertainment entities reach their fans and potential clients. Although not all interactions turn into profit, they can be a huge indicator as to how far your ideas have spread. They can also show how likely your target audience is to spend money on your product, attend your concert, buy your album etc. based on how much they interact with your public identity. Until recently, you were only able to measure your success based on how many Facebook likes your fan page has, or maybe the number of followers you have on Twitter. Now there is an even better way to monitor your sphere of influence: Klout. 

Why is Klout important? 

     Klout measures your social media activity on all of the major social networking sites: Facebook, Twitter, and LinkedIn.

    According to Klout.com your “Klout Score measures influence based on your ability to drive action. Every time you create content or engage you influence others. The Klout Score uses data from social networks in order to measure: True Reach: How many people you influence, Amplification: How much you influence them, Network Impact: The influence of your network”

    With the recent addition of YouTube, Google+, Blogger, Flickr, Instagram, Last.fm, Tumblr, and WordPress Klout now has the ability to monitor the full scope of your social media influence. This can be used as a tool to examine marketing success, for brand building  test a new product or idea, and to see how much of a buzz you can create throughout the Internet.  “So I get a score, big deal.” There is more than that. Klout users at differing levels are offered perks like swag, exclusive experiences, and of course, bragging rights.