Calculate the binary split sum of a word
Python 2, 86 81 76 bytes

-5 bytes thanks Adnan
-5 bytes thanks xnor


s=0
for c in input():s=s*128+ord(c)
print eval(bin(s).replace('01','0+0b1'))


Try it online!

for c in input():s=s*128+ord(c) to do the ASCII conversion numerically, where *128 is used to left shift s 7 times (steps 1 and 2)
eval(('0'+new_bin).replace('01','0+0b1')) to split and sum (steps 3, 4 and 5)