The Complete Guide To The Social Media Exchange: Empire Avenue - Part 2
Is Empire Avenue just a fad? Is EAv just another social network and maybe a fascinating new type of news reader (like Robert Scoble writes), or is it really - like I think - a whole new ball game?
Photo credit: JGraphic, Empire Avenue, mashed by Robin Good
And assuming one wants to start playing it, what are the best strategies and approaches to make it work?
In this second part of my Complete Guide to Empire Avenue (Part 1) I have brought together some of the best resources, videos, articles and tools, that I would recommend you to look at if you want to get good at EAv.
- Will It Take Off or Is It a Fad?
- Who Can Play
- How to Start Playing
- How to Make Good Investments Inside EAv
- Valuable Reading Resources on EAv
- Recommended Facebook Groups and Pages
- EAv Tools: Plugins, Extensions, Software
Find out more about this new fascinating universe, at the crossroad between social media analytics, social network marketing and cooperative online gaming.
Will It Take Off or Is It a Fad?
Before deciding whether or not you will invest time into Empire Avenue, I guess you may be wondering whether my excitement and passion for it may not just be the fruit of my love for new technology toys and ego-stroking game mechanics.
And you would be right in doing so. Given the shrinking amount of free time we are faced within our daily activities, any new addition, especially if of the game kind, should truly provide some tangible enjoyment, the opportunity to learn something valuable and to gradually build new relationships.
My personal impression, after having played now for just over a month, is that EAv is a truly valuable and highly innovative mix of gaming, social networking and stock market mechanics. In my experience EAv does provide enjoyment, learning and social networking benefits well beyond what I have seen elsewhere online.
I don't have a crystal ball, nor I am an official analyst for this industry sector but, while I may be certainly wrong on this, I have developed a strong sense that EAv is unlike the typical game for many reasons. EAv introduces the online public for the first time into a realm where the physically real influences the virtual and vice versa.
This is a game in which winning is a highly collaborative effort, and where adopting low-level game tactics does not pay back over the long run.
The key factor - and again I may not see this properly - in my humble opinion, that sets Empire Avenue completely apart from any other gaming and social networking experience I have been exposed to until now, is the fact that unless you truly master the art /science of helping, supporting and cooperating with others toward a mutually beneficial growth, you are doomed.
Solo plays for the sake of having the highest stock value or dividends accrue much less overall return to those who play them, as this game provides so much more than the score or dividends you are able to rack up.
At least, this is what I see.
Given the many different opinions that exist on EAv, I think that the best think you can do to find out who is really right, is either to play it now or to wait a year and half and see what happens to it.
Here, some interesting EAv mentions, thoughts and comments, which may help you further understand what this game is all about.
"The stock market aspect is a window dressing gimmick, to what could become a very valuable introduction to this diverse ecosystem of players and thinkers.
Whether we are able to get past the window dressing and wander in to a rich store of relationships, thought leadership, collaborative learning, and more... well, that depends first on where the EA designers, strategists, and engineers are currently investing their resources and talents...
and then it will depend on how many of us are willing to stop playing the popularity game and return to focusing on the development of selective and truly rewarding relationships... just like in the "real" world!"
Source: Nicholas de Wolff on Quora
"Empire Avenue's getting traction I think because it has the potential to create a kind of contribution economy built out of social connectivity.
A contribution economy is the evolutionary 'next step' in terms of investment effectiveness and efficiency and reliable return.
It plays to the valuing of information flows as opposed to stocks, so in that sense EA has latched onto something very significant.
We're beginning to appreciate that there is an intangible asset value in highly connected and influential people and businesses.
As this becomes increasingly obvious, we can see that people and brands that are liked and that create social dialogue possess above average worth within in a network.
It makes a lot of sense for Empire Avenue to create a fun and enterprising way to mine this.
Just because it's fun doesn't mean it's entirely trivial."
Source: Anne-McCrossan on Quora
"While it's easy to compare to Facebook games like Farmville, EA is different in that it lets you continue growing in value without visiting the site.
Just keep active on your social networks and your share price slowly goes up.
This is nice for people who don't want to get consumed by the buying and selling portion of the game, but dangerous for EA if they want to keep people engaged and coming back.
Casual people will check every few weeks or so, or just forget about it completely. If your EA value can get constant visibility the way Klout does, then there'll be a lot more long term interest."
Source: Jay Baron on Quora
"I've been on EA for almost a year now and seen it grow from a niche community to this point where it's gaining some sort of traction.
What I take away from EA is that the game element is almost secondary compared to the great networking value the site provides.
I've met a lot of like-minded individuals and peers from my profession apart from others who share common interests. THIS is what makes the game exciting and imho will make it a success."
Source: Yashvir Dalaya on Quora
"There are many reasons to like Empire Avenue but I also have some concerns. I'm not crazy about the "shop" as part of the monetization strategy... yet (but I understand you have to pay the bills, and I'm sure servers aren't cheap). My thoughts are that EA should be focusing on building their user base first and the money will typically follow."
Who Can Play
There are two ways that you can start playing EAv.a) Content Producers
If you are a blogger, an online marketing person, or someone already active on social media, then your approach to EAv is the one of a content producer and relationship maker.
b) Social Media Users
If you are someone fascinated by social media and understanding better how online marketing works, and you are NOT an active content or social media contributor, then you may approach EAv as a media investor, and even without having new articles, video clips or posts being published daily, you can participate and play the game as intensely as anyone else.
Let's look at both options:
a) Content Producers and Active Social Media Individuals
"As a Content Creator and Engager you can use Empire Avenue to build an audience across multiple networks, through Blogs, Twitter, Facebook, Flickr, YouTube and, of course, Empire Avenue and its Communities.
Success in this area means finding and attracting people to invest in, who might be interested in you, join your network and, in turn, invest in you.
By driving other people to action, you're creating an audience, enhancing your network, being social and creating value... all of which will RAISE your Share Price."
Here are a few specific things that can help you increase your EAv share price:1) Continue to create great content, across all of your social media channels.
2) Get other people to view, share, like and comment your newly published content.
3) Search and identify people with similar interests, passions or simply who are great communicators and online marketers and who are very active on social media.
4) Learn how to recognize real valuable investments from shooting stars, or big brand names with no real action behind them. Look not at names or level of celebrity but at the level of engagement and activity these individuals have on social media.
5) Get Chris Pirillo's P3 Chrome browser extension and start looking more carefully at the various value indicators displayed for each stock and specifically at actual dividends this investment is bringing in.
6) Join Communities of Interest inside EAv and participate by exchanging, helping and supporting other fellow EAv users.
7) Use shareholder email to inform periodically your investors about your progress, expectations for the near future, and in particular, to give them specific suggestions on where and how to invest better.
8) Invite your friends and contacts from other social networks and support them in moving through the first few steps inside EAv. Each invited friend that joins EAv brings you a few thousand eaves of reward.
9) Look for new arrivals and be prepared to make smart investments on those who have just entered, and have a low price, but high probabilities of growing fast.
10) Don't go for for short-terms gains only. Invest in a mix of high-value, stable and growing stocks, as well as in a rapidly changing pool of new entrants, which in most cases you use to produce fast returns to be re-invested on high-price blue-chip shares.
b) Content Consumer and Social Media User (Not a Content Producer)
As an Investor, your job is to find other people and brands who are valuable and produce great content and to invest and network up with them.
And here are a few specific tips on how to become a great EAv investor even if you do not produce and publish any content:1) Search and identify individuals and brands that are already on EAv and that have a growing share price and good dividends (5-figure).
2) Spot and invest into promising new arrivals (there is a section dedicated to them on your EAv home page) by looking at their initial IPO price and both at the rate of share growth as well as their apparent engagement and activity on social media.
3) Help new arrivals by guiding them into making their first investment steps properly and in understanding how to extract the best from EAv.
4) Join relevant communities inside EAv and learn, exchange and share with like-minded people.
5) Follow "trending" and "recommended" investments suggested automatically by the EA system, but evaluate carefully on your own, which stock you want to invest in.
How To Start Playing
Here the first three steps you have to make as soon as you sign up for Empire Avenue.
After you are done with your basic profile setup, you are ready to start investing in other people and companies.
For me it has taken a full month of playing before realizing many of the subtle variables that contribute to make one a successful and valuable player inside EAv. Actually, I think I do have a lot more still to learn and appreciate this game system to its fullest. But I'm getting there.
I consider this rather long learning curve a positive aspect of EAv, as I enjoy discovering gradually what the game can offer me and how I can be best at it.
If you are just starting out, it is therefore of the essence that you do follow some indications on how to move your initial steps, as what may seem superficially as the best thing to do, it is often not.
Probably, one of the most important things to do as you start is to learn to understand what the different indicators really mean (share price, dividends, earnings, ROI, etc.) as they are all very important in helping a player take effective decisions and in administering his money.
The great thing about EAv is that many of the best players have fully understood that to keep themselves moving forward, one of the very best and most effective action-strategies, is to help novices understand the game and master it.
This attitude generates a win-win proposition as new players do not abandon EAv frustrated or overwhelmed by its richness or initial difficulties, but instead, with the help of other successful players, they get to enjoy more of the game early on, while becoming rapidly great investments for those who have invested in helping and teaching them first.
Look therefore at the best players actions, investments, by monitoring all of their EAv activities by using the "Watch" function and read carefully their Shareholders' Email notifications where they share their best tips and recommendations.
Here below is a short selection of the best introductory guides for new EAv players:
- A Beginner's Guide To Empire Avenue
Why would you play a game like Empire Avenue? If you're new to the world of social networking, it's a fun way to learn the ropes and encourage you to participate in each of your social networks to the max.
- What's All The Fuss About Empire Avenue
Empire Avenue is just a game right now there are interesting spin-offs that could come out of this including people with virtual currency in "their shop" and as an interesting way of ranking people. We've seen services like Klout try to do this through algorithms but the approach from Empire Avenue is far more engaging.
- The Empire Avenue Experience - Part 1
What is Empire Avenue? Many users including myself share the thought that EA is like a crowd sourced version of Klout. One tweet by Jeremiah Owyang offers another explanation - "Empire Avenue explained in 140 characters: It's Farmville for Social Media". While there are certainly social media and gaming elements, Empire Avenue is also a stock market for people.
How To Make Good Investments Inside EAv
Duration: 13:47 - In this interview, Syed and Chris Pirillo discuss what Empire Avenue actually is, how to make great investments and what attitude is best to use on EAv.
- Chris Pirillo: My Empire Avenue Strategy and Tips
This is an absolute must-read for anyone wanting to get the best out of EAv. Chris Pirillo is the top stock inside EAv and the best person from whom I would recommend you get advice from if you are just starting out.
- Empire Investment Tips for Social Media Managers
- 8 Share Spiking Tips For Empire Avenue
- Empire Avenue: The Social Media Stock Market
A daily updated table of the best EAv stocks to invest in. Invaluable. Highly recommended.
- Three great stock tips and investment communities that you can join in, once inside EAv are #TeamZen, #XBar and #SocialEmpire. Check them out. (Buy your advisors stock, both as an advance thank you, but also so you can see what they're buying, by looking at their homepage profile.) These communities can provide some good help and word of mouth promotion for your stock, and I would advise at least considering a partnership with them. (Given that the cost to do this is zero, and all you have to do is to promote their ticker via your own, it is a pretty unrisky move, at least for what I can see so far.
Valuable Reading Resources on EAv
- Quora: Will Empire Ave take off or is it a fad?
- Why I Left Empire Avenue
- How to become a millionaire in less than 30 days (in Empire Avenue)
- Empire Avenue Guide on LinkedIn
Great advice and tips for new investments in EA
- Empire Avenue TV blog
Empire Avenue Blog created and written by Caleb Storkey for the Empire Avenue Community
- Empire Avenue FAQ
Find answers to your questions about Empire Avenue here
- Dr Ron Kapps aka @nicheproff
Successful strategies about how to build your brand on Empire Avenue and his community of Empire Avenue Tips.
- Empire Avenue Nederland
News, tips and resources
- EAv ProBlog
Daily tips and suggestions on who you can invest on. Fast movers and great new opportunities for investments.
- Empire Avenue Fans
The Newbie how-to Guide to Empire Avenue. Find out how to get started, learn what makes up your scores on EAv, educate yourself on how to best invest. Great beginner guide. Recommended.
Recommended Facebook Groups and Pages
- EAv Nederland
- TEAM ZEN
- Empire Avenue
- [X] Bar
- EAv Hot Stock Tips
- EAv Guide Group
- EAv Winners - Chris Voss
EAv Tools: Plugins, Extensions, Software
- Recommended Extension for your Google Chrome Browser
Google Chrome Extension - P3 for Empire Avenue
This is the Pirillo Power Pack for Empire Avenue. I strongly recommend this Google Chrome browser extension to anyone who wants to seriously play this game and make the best and most informed decisions before buying or selling shares in someone. I find it absolutely indispensable. It is free to install.
A stock screener app by eANGLER which allows you to closely evaluate a EAv stock before investing in it.
- Empire Avenue Facebook App
If you want to play Empire Avenue without ever leaving your favorite social media network, you can do so by going straight to: http://www.facebook.com/empireavenuegame and the click on the blue "Go To App" button.
- EAv Trader for Windows App
This is a simple windows application with some basic functionality that could be useful if you are an active EA trader. You can read all about it and see several screenshots here. To download it go here: http://eavtrader.com/windows/EAvTradersetup.msi
- Eboardwalk EAV Apps
Great set of tools that allow you to download some of the most interesting data from EAv, including all the stocks you own, shareholders in which you have a stake, 30-day dividend history file, Google map showing where your shareholders are, and more.
End of Part 2 - Part 1 here
Originally written and curated by Robin Good and first published on MasterNewMedia on July 19th 2011 as "The Complete Guide To The Social Media Exchange: Empire Avenue - Part 2".
Robin Good -
Will It Take Off or Is It a Fad? - Vacuum3d
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