Fair Pay, Participation Value, and The Intention Economy


Business_and_technology_trends
Do you know the pay scale for your industry? I'm not talking about the job wanted ads — those may mislead you and take you down the generic path. You're not generic, you have specific skills, and you should be able to calculate market value.

Just like with salary, where you don't have a cut and dry answer, interaction and involvement are not exactly the same thing. Community participation has highs and lows, and they may not follow the touted 1% route. How active are people online? Has it changed in the last couple of years?

Marketers can optimize campaigns and programs only so far. Without the complicity and of buyers and what they want to do, all forecasts continue to be best guesses. Businesses are drowning in data, while customers are left unfulfilled. Which businesses have developed good situational awareness to take advantage of the opportunities in the stream?   

Fair Pay, Participation Value, and The Intention Economy

The three stories that caught my eye this week are:

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1Morgan Missen provides several resources you can use to calculate if your tech salary is fair. You can use those same resources, or similar ones, to figure out the figures for your industry:

Most people have no idea what the market rate or prevailing wage is for their profession and career level, much less where they fall on the pay scale.

I’m tired of fluffy unvetted career advice, so I’ve sourced and linked to ten ways you can determine what other people with your job are paid.

[…] I didn’t include “ask a recruiter, they can tell you to-the-penny” but I assume if you’re reading my blog you already know what a great resource recruiters can be, even when you’re not looking for a new job.

It's a good idea to know what the market will bear for your specific job. Mileage may vary based upon experience and results, of course. [hat tip Gina Trapani]

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2When it comes to online participation, a known rule of thumb is to expect a 1/9/90 rule, where 1% are very active participants, 9% contribute a little, and 90%, or the majority are lurkers. A recent survey by the BBC find the picture more nuanced than that:

One of the defining characteristics of digital media is interaction. It enables us to be active, make choices, build connections, express ourselves and exercise a new level of control over our media experiences.

But how active is the UK online population really? And how might this change in years to come?

[…] The model of Participation Choice identifies four key forms: passive, easy reaction, easy initiation and intense participation.

Participating today is much easier than it used to be. You can "like" or "+1" links and posts without breaking a sweat. IThe big question: is all participation to be deemed equal? [hat tip Neil Perkin]

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3Doc Searls new book, The Intention Economy is out and he's already received some reviews. From the reviews:

In the Intention Economy, the buyer will notify the market of his/her intent to buy and then sellers will compete for the buyer’s purchase.

While RFPs are not yet happening within Facebook, the giant social network is making a move to learn more about our intent as shoppers online.

Part of Doc Searls vision of the intention economy involves “fourth parties” that protect a consumer/shopper and act on his/her behalf within the intention economy.  Personal.com is an early form of this type of company. Fourth parties collect our intent, but instead of broadcasting it broadly and selling it to advertisers, they look out for the consumer and their interests on the web.

Rethinking business is about getting back to fundamentals. It starts with making things people want, or demand creation, and connecting with buyer intent. Help people do what they want to do. It's that simple. I'll be back on this topic with more thoughts.

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Ambient concierge, adaptive DNA, situational awareness — these are not empty buzzwords. These are some of the executions we're already seeing from businesses who have become more social. Take a day off from the insider speak, and you will see how they apply to what you do as a buyer.

This week's links are about learning to chart your course by trading your assets creatively through the changes and opportunities that digital media and social technologies have opened up so far. 

Follow the discussion over on Conversation Agent Google+ Page.

Have a great weekend everyone.

 

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