WEBVTT 00:00:04.240 --> 00:00:06.240 Redhead is one of the co founders of side Wire which is involved with a 00:00:10.109 --> 00:00:16.087 digital marketing and he has a number of corporate clients and okay at 00:00:16.120 --> 00:00:23.826 issue, we know the value of one of our alums and so W. P. Carey has asked 00:00:23.859 --> 00:00:29.927 him to join the faculty to teach on digital marketing principles. He has 00:00:29.960 --> 00:00:34.646 agreed to do that, which I think is wonderful for our future generation of 00:00:34.679 --> 00:00:40.427 alone. So we're going to talk about how marketing has changed from this 00:00:40.460 --> 00:00:46.607 thing that you used to be able to kind of go and do plan execute, see how 00:00:46.640 --> 00:00:52.646 it went, then look at it and redo something that is always on and it's 00:00:52.679 --> 00:00:58.016 happening even when you're in a band that has come about as a result of 00:00:58.049 --> 00:01:02.277 social media. So it's been a pretty much a majority of the time social 00:01:02.310 --> 00:01:07.997 media can go from. This was a pretty large study done, You can go from 00:01:08.030 --> 00:01:11.706 three stars on Yelp, four stars on Yelp you will increase your revenue by 00:01:11.739 --> 00:01:16.676 $75,000 on average. There are fans. We're gonna talk about fans in a 00:01:16.709 --> 00:01:22.027 minute, get that talking If you are in a public way, it's a lot better in 00:01:22.060 --> 00:01:25.326 the end and telling you that you have a great restaurant because I'll tell 00:01:25.359 --> 00:01:30.906 you that's 1-1. They tell yelp that's one too many and all of us see it. 00:01:30.939 --> 00:01:34.337 I'm shocked at how, especially restaurants. I'm shocked at how few 00:01:34.370 --> 00:01:40.406 restaurants put energy into. You know, we talk about lakes all the time 00:01:40.439 --> 00:01:46.467 when you're a brand you really want, the shares, shares will drive as you 00:01:46.500 --> 00:01:52.736 can see much more of the ability for you to hit people that you can't 00:01:52.769 --> 00:01:55.936 normally hit as much stronger if you're focused and share. But if I'm 00:01:55.969 --> 00:02:01.546 looking for a brand of shoes, I look for these, these social proof, I look 00:02:01.579 --> 00:02:05.516 for cues from other people that are already out there. I've already done 00:02:05.549 --> 00:02:09.707 it as two places that might be good for me to go, try to buy a pair of 00:02:09.740 --> 00:02:14.927 shoes. And if I look in google, what I see are these social, some social 00:02:14.960 --> 00:02:18.226 signals coming back to me and the first is from Seoul Sports Running Zone 00:02:18.259 --> 00:02:23.786 , which gets has 16 google reviews and a score of 26 out of 30 which when 00:02:23.819 --> 00:02:29.207 you look at the rest, absent anything else, I'm inclined to go there. 00:02:29.240 --> 00:02:36.087 Reality, only 14% of people really listen to and they really, they really 00:02:36.120 --> 00:02:41.286 believe what had happened. Say that's pretty small percent. So all that 00:02:41.319 --> 00:02:47.096 money pouring into paid media about, we're hearing about 85% of people 00:02:47.129 --> 00:02:53.686 saying by that to leave what they're saying. Whereas Talk about other 00:02:53.719 --> 00:02:57.136 people is not necessarily people, you know, just people in general, 00:02:57.169 --> 00:03:00.427 specifically, probably people their online because it's hard, although in 00:03:00.460 --> 00:03:06.017 this setting we could do the same thing, 78%. They believe people at 78% 00:03:06.050 --> 00:03:10.957 rate it's worth the energy to spend the time on this, get other people to 00:03:10.990 --> 00:03:15.777 tell people about great, your business is about how great you are. If you 00:03:15.810 --> 00:03:19.756 wanted to promote yourself specifically whatever it is, this is where you 00:03:19.789 --> 00:03:24.467 spend the, it does take energy. It takes energy away. Thanks. Talk what 00:03:24.500 --> 00:03:29.196 you're finding. Is it 40% of more accurate traffic to the Facebook page 00:03:29.229 --> 00:03:32.976 into their website? What's happening? Is that this website which we've 00:03:33.009 --> 00:03:38.707 always thought of as kind of the son of the solar system is not that place. 00:03:38.740 --> 00:03:42.557 Think of it instead of, it's kind of like an online presence. And instead 00:03:42.590 --> 00:03:45.906 of thinking about search engine optimization and all these kind of old 00:03:45.939 --> 00:03:51.077 school terms for my website, how do I optimize my website to perform the 00:03:51.110 --> 00:03:55.077 best it possibly can. So I get search results or something. Instead you 00:03:55.110 --> 00:03:58.297 start to think if you start to think of it much more holistically, how do 00:03:58.330 --> 00:04:03.096 I take all the things i in the digital world and make them all work 00:04:03.129 --> 00:04:08.237 together so that they produce the best possible result. But I can see 00:04:08.270 --> 00:04:12.487 where maybe the person never comes to my website. It doesn't matter. They 00:04:12.520 --> 00:04:15.406 didn't have to cause they got all the information they needed to engage 00:04:15.439 --> 00:04:20.007 somewhere else. It was just as meaningful if not more meaningful. And even 00:04:20.040 --> 00:04:23.017 more to the point it was where they wanted to be. And those that aren't 00:04:23.050 --> 00:04:28.207 thinking about the future aren't recognizing the fact that, you know, we 00:04:28.240 --> 00:04:34.967 like gen y is so far, you know, those their way down here, all those wives 00:04:35.000 --> 00:04:39.476 sitting in this room and there's gen y making buying decisions and the 00:04:39.509 --> 00:04:46.467 millennials are not that far behind and there they're digital natives. So 00:04:46.500 --> 00:04:52.337 this is just the ability of your, of the old school campaigns to generate 00:04:52.370 --> 00:04:58.306 interest in a way that something like social media camp, it's just going, 00:04:58.339 --> 00:05:03.017 you shouldn't be investing a lot of time and energy over there when all 00:05:03.050 --> 00:05:09.077 buying decisions have changed. My first question to you is are you taking 00:05:09.110 --> 00:05:14.356 this whole social media thing as seriously as you are picking up the phone 00:05:14.389 --> 00:05:20.666 when someone calls As Hanley emails as turning the sign to open when you 00:05:20.699 --> 00:05:25.226 come in everyday, people that are under 21, it does not mean that, you 00:05:25.259 --> 00:05:29.406 know, social media and I see this all the time. I see this in my class, 00:05:29.439 --> 00:05:33.556 I'll go around the room and I'll say, so tell me about what you do and 00:05:33.589 --> 00:05:39.637 half probably half of the suits. Oh, I'm an intern and, and I run their 00:05:39.670 --> 00:05:44.846 social media like, wow, just amazing to me how many companies have interns 00:05:44.879 --> 00:05:50.017 running their social. I know, you know, the goal is I just don't want to 00:05:50.050 --> 00:05:53.596 deal with this. I don't quite understand it. I need to over here and 00:05:53.629 --> 00:05:59.517 clearly a 21 year old knows social media, they do, they put things up on 00:05:59.550 --> 00:06:02.496 facebook and we're talking about Snapchat earlier. They learn how to do 00:06:02.529 --> 00:06:07.007 Snapchat and all those neat things that does not mean they know how to 00:06:07.040 --> 00:06:12.406 convey your brand online in a meaningful way to get someone to actually 00:06:12.439 --> 00:06:16.567 become, have a relationship with you and do with you, take the action that 00:06:16.600 --> 00:06:21.067 you want. I've already talked about this. Find engaged members, get them 00:06:21.100 --> 00:06:26.036 to be evangelist for you, get them to talk for you, you can do that so 00:06:26.069 --> 00:06:30.277 easily get them to offer them to write guest posts. People love being if 00:06:30.310 --> 00:06:33.926 you're gonna want get other people to write on your blog, curate their 00:06:33.959 --> 00:06:38.387 content, sharing their content. We know that shares are good. These are 00:06:38.420 --> 00:06:43.606 long term conversations. So there is no turning this off. Once you start, 00:06:43.639 --> 00:06:46.569 it does not turn off.