BlokNest redefines startup scoring – fusing AI and the collaborative intelligence

How could startups get more relevant and timely feedback on their activities? This is what we have been thinking about at blokAI lately. The answer lies in combining data and human intelligence – which is why we are developing a new, unique framework for benchmarking and evaluating startups. Our secret is to leverage diverse data sources like Google Analytics and social media channels. Our goal is to grab valuable, practical insights to help us hone our business to the top.

Here’s how it works: as soon as a startup submits an application, our automated evaluation process kicks in. Applicants can give us access to their analytics data, but can opt out of other external data sources if they wish. Our AI algorithms dive into the data in real time and score the startup’s performance on key metrics such as user engagement, traffic growth and geographic reach.

But data alone is not enough. The collective intelligence of our BlokNest community is an essential part of our evaluation model. The results and insights generated by our algorithms are shared with our token holders for feedback and validation. In this way, we ensure that the ratings reflect the authentic expectation and experience of our members.

Their Community response will be taken into account in the final scoring, which will be summarised in an overall score on a 5-point scale. More valuable than a numerical score, however, are the detailed recommendations for further action. For example, a startup may be advised to consult community experts to refine its content strategy, invest in increasing organic search traffic, and adapt its approach to less successful geographic areas. Drawing on both the power of AI and the insights of the community, these precise guidelines provide startups with a clear roadmap to improve their performance.

Automating data collection and analysis allows for scalable and efficient evaluation. At the same time, the involvement of the BlokNest community brings human judgement to the process and ensures the relevance of the assessments.

We believe that this truly unique and efficient review solution will become an important part of BlokNest’s service offering to startups. With the help of data-guided and community-verified insights, we can help startups make better decisions, adapt with agility and succeed in a competitive market.

At BlokNest, we don’t just value startups, we equip them to target specific “pain areas” to boost the probabilities of succeeding. Through a synergy of cutting-edge technology and collective intelligence, we are shaping the landscape of startup backing and acceleration.

Now, let’s explore the practical application of our evaluation framework using our own Google Analytics data. We’ll demonstrate how we can derive meaningful insights and scores from this data to provide targeted feedback for our own growth and improvement.

We’ll focus on the Web Engagement Score (WES), which assesses user interaction and traffic growth on our website. Looking at our own data, we see an average engagement time of 548.24 seconds (about 9 minutes) on the 27th day. This is a positive indicator, suggesting that users are finding value in the site’s content. However, the engagement time fluctuates significantly over the 28-day period, indicating room for improvement in consistently capturing user attention.

Next, we calculate the Community Engagement Score (CES), which evaluates our ability to foster an active and involved community. BlokAI’s Telegram data shows 136 active users and 417 messages over the period. Applying our formula, we get:

CES = (136 * 0.7) + (417 * 0.3) = 220.3

This score suggests a moderately engaged community, but there’s potential to boost interaction and dialogue further.

Combining the WES and CES, we arrive at an Overall Engagement Score of 199.558, placing blokAI in the “Fair” category based on our predefined scale. This indicates that while we have made strides in engaging users, significant improvements can still be made, particularly in driving consistent, high-quality interactions.

Geographic reach is another key consideration in our evaluation. Our analytics reveal users from 43 different countries, with the top representations from the United States, Nigeria, India, Finland, and Indonesia. This diversity is a strength, showing the potential for broad international appeal. However, we could strategize to deepen our presence in key markets and explore untapped regions.

Based on these insights, our recommendations for blokAI would include:

  1. Conduct a content audit to identify the types of pages and topics that drive the highest engagement. Double down on these areas to create more consistently compelling content.
  2. Implement strategies to encourage more frequent and in-depth discussions within the Telegram community.
  3. Investigate the factors driving strong engagement in top countries like the US and Nigeria. Use these learnings to refine the approach in other markets and to identify new geographic targets.
  4. Continuously monitor and analyze the data to track progress and adapt strategies in real-time.

One interesting approach could be a “Stickiness Score” that measures how effectively the startup retains and re-engages users over time. We can calculate this by comparing the number of returning users to the total user base. From our data, we see that on the 27th day, there were 33 users, of which 10 were new (167 total users – 157 from the previous day). This means 23 were returning users. So the Stickiness Score for that day would be:

Stickiness Score = (Returning Users / Total Users) * 100 = (23 / 33) * 100 = 69.7

A score of 69.7 indicates a fairly healthy level of user retention, but there’s still room to improve. BlokAI could aim to push this score above 80 by implementing targeted re-engagement campaigns and personalized user experiences.

Another valuable metric could be a “Virality Coefficient,” which quantifies how well the startup converts users into advocates who invite others. Although we don’t have direct referral data, we can approximate this by looking at the ratio of new users to total users over a period. For instance, over the last 7 days, blokAI saw 149 new users out of a total of 167. The Virality Coefficient for this period would be:

Virality Coefficient = New Users / Total Users
= 149 / 167
= 0.89

A coefficient of 0.89 suggests that each user is, on average, bringing in slightly less than one new user. To boost organic growth, blokAI should aim to push this above 1 by incentivizing referrals and making it easy for users to share and promote the platform.

We can also assess our own “Globalization Potential” by analyzing the linguistic diversity of our user base. Our data shows users interacting in at least 22 different languages, with English, Russian, Indonesian, French, and German being the most common. This linguistic spread indicates a strong foundation for global expansion. However, to fully capitalize on this potential, we should ensure that our platform and content are optimized for multilingual audiences, with localized interfaces and customer support.

Let’s consider a “Mobile Adoption Score” to gauge how well we are capitalizing on mobile platforms. The data reveals that out of 168 total users, 82 are accessing blokAI via mobile devices. The Mobile Adoption Score would be:

Mobile Adoption Score = (Mobile Users / Total Users) * 100 = (82 / 168) * 100 = 48.8

With a score of 48.8, blokAI has significant untapped potential in the mobile space. To boost this, we should prioritize mobile-first design, ensure seamless mobile functionality, and perhaps even consider mobile-exclusive features or campaigns.

By combining these various scores and metrics, we can paint a comprehensive picture of blokAI’s current performance and potential. Let’s calculate an overall “Analytics Performance Score” (APS) by taking a weighted average of the key scores we’ve discussed:

Web Engagement Score (WES): 178.816 Community Engagement Score (CES): 220.3 Stickiness Score: 69.7 Virality Coefficient: 0.89 Mobile Adoption Score: 48.8 Assuming equal weights for simplicity, the APS would be:

APS = (WES + CES + Stickiness Score + Virality Coefficient*100 + Mobile Adoption Score) / 5 = (178.816 + 220.3 + 69.7 + 89 + 48.8) / 5 = 121.3232

An APS of 121.3232 places blokAI in the “Fair” category based on our earlier defined scale. This indicates that while we show promise and have made notable strides, there’s still significant room for improvement across various dimensions of user engagement and growth.

To boost our overall performance, we should focus on the following strategic priorities:

  1. Optimize content and user experience to drive more consistent, high-quality engagement.
  2. Implement targeted initiatives to foster a more active and involved community.
  3. Invest in mobile-first design and functionality to capitalize on the growing mobile user base.
  4. Encourage and incentivize user referrals to boost organic growth and virality.
  5. Ensure the platform is optimized for multilingual audiences to fully harness its global potential.

By addressing these areas, blokAI can work towards pushing its Analytics Performance Score into the “Good” or even “Very Good” range, setting the stage for sustainable growth and success.

Our analytics-driven evaluation framework provides a powerful tool for assessing our own health and potential as a startup. By combining quantitative data analysis with the qualitative insights of our community, we can offer targeted, actionable recommendations that help us refine our strategies and reach our full potential.

This Analytics Performance Score is just one component of our comprehensive startup evaluation methodology at blokAI. Combined with assessments of the team, product, market fit, and more, it contributes to a holistic view that helps us identify and support the most promising ventures, including our own.

As we continue to refine and expand this framework, we remain committed to our core mission: empowering startups with the insights and resources they need to thrive in an increasingly competitive landscape. By harnessing the power of data and collective intelligence, blokAI is pioneering a new approach to startup evaluation and support, one that we believe will reshape the future of entrepreneurship.

Stay tuned as we continue to improve and expand this initial vision.