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Cover image for What's the Value of a Like?

What's the Value of a Like?

Jon Clement
・1 min read

Of course it’s nice to monetize our creations but would you rather receive a lot of likes or a little bit of money? GretNet is currently exploring ways to quantify how your creations impact and influence people.

What other holistic metrics would you like to track? Educational impact? Inspirational impact? Level of “engagement”? Total reach? Truth and positivity factors?

Follow our progress or share feedback on our website at: GretNet.com

Discussion (7)

michaeltharrington profile image
Michael Tharrington (he/him) • Edited

I feel like as a creator, I'd be super interested in "engagement" and particularly would like to know the metrics that define what "engagement" is. It'd be nice to see an overall "engagement" metric, but also to have the ability to get more granular and see what all the little algorithms are that factor into it. For instance, time on site seems like an important measurement for engagement. If your content is media like video or audio then time listening/watching via the media player would be one of the most important things to me. But there are many factors...

I think often engagement for articles on Forem (the platform this community is built on) would be measured using some combination of time on site, comment count, reaction count, etc. and an algorithm is used to define the heaviness (importance) of each. It's somewhat subjective to define the importance of different ways of engaging — i.e. should time on site be more important than reaction count and thus get a heavier multiplier in the algorithm? If you're presenting this info to a creator, I think it'd be ideal to give them a suggested algorithm for "engagement", but clearly define the parts of that algorithm and maybe even allow them to customize it so that they have the dials to define the different parts of "engagement" that are most important to them.

I hope this makes sense, haha!

jon profile image
Jon Clement Author

I was recently reminded of the Klout score for influence - rip. Actually, their tech approach is a slightly interesting read: arxiv.org/abs/1510.08487
Agreed, in a lot of cases rolling everything up to one engagement value ie: 83 -- is useless. And yes, even if you include the details of the metric algorithm, these days, people require the ability to customize. I've been considering an adjustable "exchange rate table" to help gauge relative importances and the the conversation rolling.

gfam profile image

We're extremely interested in this exact question, as we are talking to lots of creators now who are less interested in likes and more interested in a little bit of money... but to have some metrics makes those conversations a lot easier!

I couldn't get past the email subscription part of your website... when I clicked on 'Continue to website' after entering the email address it said I was blocked.

jon profile image
Jon Clement Author

Yes, for smaller audiences there are likely more relevant metrics then raw 'like' counts. There may be a benefit of grouping creatives by type to avoid the apples-to-orange comparisons -- which would allow a shift to a subset of metrics to chase. This new article touches on that li.substack.com/p/building-the-mid...
re: website. Ah yes, well the public facing website isn't there yet. But we must have missed the mailchimp setting that does the link. Thanks!

chrislarry profile image
Chris Lawrence

Hi Jon. For me I have always wanted a metric/way to measure the network effects and remix. What impact did my post/content have? Did someone repurpose it an how. I know personally that sometimes even random posts/content inspire/motivate me to take actions in my own life. But the creators never know. Call it an appreciation metric. This is where it does have interesting connections to compensation as a token of that.

jon profile image
Jon Clement Author

Agreed. Most metric reporting systems stop at the "easy" counts: # likes, visits, dollars received etc. I've positioned the design of GretNet around two main features: (i) "Net" --> a graph database that tracks relations, nodes/creations and interactions. (ii) A "Gret". defined as a unit of transferred value. In the case of sampling from a podcast, the graph (i) would trace the original creation as well as where outtakes of it where used in downstream remixes. You can think of a "Gret" (ii) as flowing in the opposite direction from the remix back to the creator. And yes, would be a vehicle for quantifying appreciation.
Now to package that for every day use!...

phoebepoon profile image

For us at LikeCoin, we are reinventing the "Like" and each like is an actual reward to creators. :)