Redhead is one of the co founders of side Wire which is involved with a
digital marketing and he has a number of corporate clients and okay at
issue, we know the value of one of our alums and so W. P. Carey has asked
him to join the faculty to teach on digital marketing principles. He has
agreed to do that, which I think is wonderful for our future generation of
alone. So we're going to talk about how marketing has changed from this
thing that you used to be able to kind of go and do plan execute, see how
it went, then look at it and redo something that is always on and it's
happening even when you're in a band that has come about as a result of
social media. So it's been a pretty much a majority of the time social
media can go from. This was a pretty large study done, You can go from
three stars on Yelp, four stars on Yelp you will increase your revenue by
$75,000 on average. There are fans. We're gonna talk about fans in a
minute, get that talking If you are in a public way, it's a lot better in
the end and telling you that you have a great restaurant because I'll tell
you that's 1-1. They tell yelp that's one too many and all of us see it.
I'm shocked at how, especially restaurants. I'm shocked at how few
restaurants put energy into. You know, we talk about lakes all the time
when you're a brand you really want, the shares, shares will drive as you
can see much more of the ability for you to hit people that you can't
normally hit as much stronger if you're focused and share. But if I'm
looking for a brand of shoes, I look for these, these social proof, I look
for cues from other people that are already out there. I've already done
it as two places that might be good for me to go, try to buy a pair of
shoes. And if I look in google, what I see are these social, some social
signals coming back to me and the first is from Seoul Sports Running Zone
, which gets has 16 google reviews and a score of 26 out of 30 which when
you look at the rest, absent anything else, I'm inclined to go there.
Reality, only 14% of people really listen to and they really, they really
believe what had happened. Say that's pretty small percent. So all that
money pouring into paid media about, we're hearing about 85% of people
saying by that to leave what they're saying. Whereas Talk about other
people is not necessarily people, you know, just people in general,
specifically, probably people their online because it's hard, although in
this setting we could do the same thing, 78%. They believe people at 78%
rate it's worth the energy to spend the time on this, get other people to
tell people about great, your business is about how great you are. If you
wanted to promote yourself specifically whatever it is, this is where you
spend the, it does take energy. It takes energy away. Thanks. Talk what
you're finding. Is it 40% of more accurate traffic to the Facebook page
into their website? What's happening? Is that this website which we've
always thought of as kind of the son of the solar system is not that place.
Think of it instead of, it's kind of like an online presence. And instead
of thinking about search engine optimization and all these kind of old
school terms for my website, how do I optimize my website to perform the
best it possibly can. So I get search results or something. Instead you
start to think if you start to think of it much more holistically, how do
I take all the things i in the digital world and make them all work
together so that they produce the best possible result. But I can see
where maybe the person never comes to my website. It doesn't matter. They
didn't have to cause they got all the information they needed to engage
somewhere else. It was just as meaningful if not more meaningful. And even
more to the point it was where they wanted to be. And those that aren't
thinking about the future aren't recognizing the fact that, you know, we
like gen y is so far, you know, those their way down here, all those wives
sitting in this room and there's gen y making buying decisions and the
millennials are not that far behind and there they're digital natives. So
this is just the ability of your, of the old school campaigns to generate
interest in a way that something like social media camp, it's just going,
you shouldn't be investing a lot of time and energy over there when all
buying decisions have changed. My first question to you is are you taking
this whole social media thing as seriously as you are picking up the phone
when someone calls As Hanley emails as turning the sign to open when you
come in everyday, people that are under 21, it does not mean that, you
know, social media and I see this all the time. I see this in my class,
I'll go around the room and I'll say, so tell me about what you do and
half probably half of the suits. Oh, I'm an intern and, and I run their
social media like, wow, just amazing to me how many companies have interns
running their social. I know, you know, the goal is I just don't want to
deal with this. I don't quite understand it. I need to over here and
clearly a 21 year old knows social media, they do, they put things up on
facebook and we're talking about Snapchat earlier. They learn how to do
Snapchat and all those neat things that does not mean they know how to
convey your brand online in a meaningful way to get someone to actually
become, have a relationship with you and do with you, take the action that
you want. I've already talked about this. Find engaged members, get them
to be evangelist for you, get them to talk for you, you can do that so
easily get them to offer them to write guest posts. People love being if
you're gonna want get other people to write on your blog, curate their
content, sharing their content. We know that shares are good. These are
long term conversations. So there is no turning this off. Once you start,
it does not turn off.