Social Media.  The latest fad?<br />(That’s what they said about radio, television, cable, satellite, the internet, and ec...
Understanding Social Media Technology, Opportunities, and Metrics for Commercial Real Estate Practitioners<br />Presented ...
Objectives<br />Discover what makes social media unique, and how people really interact with them<br />Gain a functional b...
Traditional vs. Social Media<br />
Why focus on traditional media at all?<br />Traditional<br />Media<br />INCREASED BUDGET<br />Success Curve<br />Social<br...
Why don’t I have comments?!<br />100%<br />20% of Twitter users produce 95% of the content<br />80%<br />Cumulative % of C...
Why don’t I have comments?!<br />100%<br />80%<br />Cumulative % of Contributors<br />25/80 rule for social media (general...
Blogger Behavior<br />94.1 million US blog readers in 2007 (50% of internet users)<br />22.6 million US bloggers in 2007 (...
So what is my goal?Remember Kevin Bacon & the Rule of 250.<br />Statistically speaking, we accumulate a circle of 250 peop...
What do we really want?<br />More deeply engage current and prospective leads<br />Promote property currently on the books...
Why might that be difficult?<br />
To succeed, categorize.<br />Collaboration<br />Multimedia<br />Blog<br />Link Sharing<br />Peer<br />Micro-Blog<br />
Multimedia Networks<br />Property Management Example<br />Promote a new property to the widest group of potential renters;...
Blog<br />Property Management Example<br />Engage current renters in a specific property; address their issues and concern...
Link Sharing<br />Property Management Example<br />Learn what tenants are reading about a particular topic – i.e. the offi...
Collaboration<br />Property Management Example<br />Control the image and perception of your property; boost search engine...
Peer Network Example: Facebook<br />Michael K. Houge, CCIM, SIOR<br />CEO and Managing Partner<br />Chief Real Estate Comp...
Peer Network Example: LinkedIn<br />Aaron Barnard<br />Director, Private Client Group<br />aaron.barnard@cushwake.com<br /...
Micro-blogging Example: Twitter<br />Josh Floring<br />Magnum Real Estate Services<br />jfloring@magnum-realestate.com<br ...
Contact Information<br />Jason Voiovich<br />Principal<br />Ecra Creative Group<br />651.209.2778<br />jason@ecracreative....
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CCIM/SIOR Socialmedia Ecra 09102009

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

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CCIM/SIOR Socialmedia Ecra 09102009

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