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CCIM/SIOR Socialmedia Ecra 09102009
 

CCIM/SIOR Socialmedia Ecra 09102009

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Presentation on the state of the social media marketplace given to commercial real estate professionals.

Presentation on the state of the social media marketplace given to commercial real estate professionals.

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    CCIM/SIOR Socialmedia Ecra 09102009 CCIM/SIOR Socialmedia Ecra 09102009 Presentation Transcript

    • Social Media. The latest fad?
      (That’s what they said about radio, television, cable, satellite, the internet, and ecommerce).
      http://www.youtube.com/watch?v=sIFYPQjYhv8
      http://www.youtube.com/watch?v=5YGc4zOqozo
    • Understanding Social Media Technology, Opportunities, and Metrics for Commercial Real Estate Practitioners
      Presented by:
      Jason Voiovich
      Ecra Creative Group
      651.209.2778 or jason@ecracreative.com
    • Objectives
      Discover what makes social media unique, and how people really interact with them
      Gain a functional business process understanding of social media by establishing meaningful categories
      Work through and critique real-time property management examples
    • Traditional vs. Social Media
    • Why focus on traditional media at all?
      Traditional
      Media
      INCREASED BUDGET
      Success Curve
      Social
      Media
      time
      INCREASED EFFORT
    • Why don’t I have comments?!
      100%
      20% of Twitter users produce 95% of the content
      80%
      Cumulative % of Contributors
      [More strikingly, about 5% produce 80% of the content!]
      60%
      40%
      20%
      0%
      10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
      Cumulative % ranked by contribution
    • Why don’t I have comments?!
      100%
      80%
      Cumulative % of Contributors
      25/80 rule for social media (generally)
      60%
      40%
      20%
      0%
      10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
      Cumulative % ranked by contribution
    • Blogger Behavior
      94.1 million US blog readers in 2007 (50% of internet users)
      22.6 million US bloggers in 2007 (12% of internet users)
      Only 76,000 have authority 50+ (0.04% of internet users)
      Only 1 in every 10,000 bloggers has been referenced by more than 50 other blogs or websites.
      Source: Technorati
    • So what is my goal?Remember Kevin Bacon & the Rule of 250.
      Statistically speaking, we accumulate a circle of 250 people throughout our lives that are relatively close to us. Close enough to be informed of our wedding and of our journey to the next world.
      Every single person we interact with is a megaphone. Keep that in mind the next time you talk to someone. You are, in fact, speaking into a megaphone that can reach 250 people.
      You don’t need 7 degrees: 2502=62,500, 2503=15,625,000, 2504=3.9 billion
    • What do we really want?
      More deeply engage current and prospective leads
      Promote property currently on the books
      Expose property to the "right" people through second and third tier interactions
      Maintain relationships with existing tenants to reduce turnover and boost satisfaction
      Build a personal brand / relationship marketing
    • Why might that be difficult?
    • To succeed, categorize.
      Collaboration
      Multimedia
      Blog
      Link Sharing
      Peer
      Micro-Blog
    • Multimedia Networks
      Property Management Example
      Promote a new property to the widest group of potential renters; engage them with the property to enhance interest and screen appointments.
    • Blog
      Property Management Example
      Engage current renters in a specific property; address their issues and concerns; provide a forum for constructive interaction.
      Yes, you could use Facebook as a blogging platform…
    • Link Sharing
      Property Management Example
      Learn what tenants are reading about a particular topic – i.e. the office design trends – and the popularity of specific articles.
    • Collaboration
      Property Management Example
      Control the image and perception of your property; boost search engine ranking.
    • Peer Network Example: Facebook
      Michael K. Houge, CCIM, SIOR
      CEO and Managing Partner
      Chief Real Estate Company, LLC
      500 Jackson Street
      Suite #100
      St. Paul, MN 55101
      651.288.0300 direct
      612.701.7454 wireless/text
      651.389.9336 eFax
      michael@chiefcompanies.com
      www.chiefrealestatecompany.com
    • Peer Network Example: LinkedIn
      Aaron Barnard
      Director, Private Client Group
      aaron.barnard@cushwake.com
      Cushman & Wakefield
      33 South Sixth Street, Suite 4135
      Minneapolis, MN 55402
      952-465-3372 [business]
      952-465-3301 [fax]
    • Micro-blogging Example: Twitter
      Josh Floring
      Magnum Real Estate Services
      jfloring@magnum-realestate.com
      612.338.0449 - Direct | 952.250.9216 - Mobile
    • Contact Information
      Jason Voiovich
      Principal
      Ecra Creative Group
      651.209.2778
      jason@ecracreative.com
      www.stateofthebrand.com