Center social webinar

Social Media & Mobile Marketing for Mall Management

Introduction

Presenters Kurt Ivey, SVP Marketing and Corporate Communications, Madison Kurt joined Madison Marquette in 2006 and is responsible for the company's communications with internal and external stakeholders, including investors, employees, clients, partners, retailers and consumers. Upon joining Madison, he created a scalable, locally-driven consumer marketing organization utilizing traditional and newly emerging social media. He has over 18 years of experience in business-to-consumer and business-to-business marketing initiatives and has served in executive leadership roles at Simon Property Group, Rouse Company and The Mills Corporation. Alan McKeon, President & CEO, Alexander Babbage Alan McKeon is President and CEO of Alexander Babbage a market and consumer research firm serving clients in the shopping center, retail, restaurant, sports and entertainment industries. Since joining Alexander Babbage in 2004, he has led the acquisition of the oldest consumer research company in the shopping center industry, 30-year old Stillerman Jones, and the most technologically advanced, MAXtrak. Today, Alexander Babbage continues to focus on bottom-line results and provide client insights through data-driven innovations including measuring the effectiveness of social media and determining the true drivers of geographic and retail productivity (SpendR™). Moderator Duffy C. Weir, Independent Marketing and Sponsorship Consultant Duffy C. Weir is the former vice president of specialty retail and marketing at The Rouse Company in Columbia, MD. She is now an independent retail marketing and sponsorship consultant and writer for Specialty Retail Report. Weir travels the world searching for what she says “makes marketplaces and retail tick”.

Social Media: What is it?

Social Media: Media for social interaction, using highly accessible and scalable web-based technologies.

Social Media Evolution

The Numbers

What does it all mean?

www.centersocial.com

As of Q3 2010, 609 U.S. shopping centers had a Facebook page, and 555 centers had a Twitter account* Center Type Number of (300,000 square feet or Centers larger) Studied n= 1,842 Super Regional Centers 432 Regional Centers 777 Lifestyle Centers 522 Value Centers 94 Entertainment Centers 17 Total Industry 1,842 Q3 Q3 Q3 Q Q Q Q Q Q 2 3 2 3 2 3 * Centers studied include those in the categories listed above that are 300,000 square feet or larger 11

Regional centers are more likely to have a Facebook page, but entertainment centers lead the way with the highest average number of fans per center Change Q2 Number of Q3 Number of Q2 Average Q3 Average Q3 vs. Q2 Centers with a Centers with a Number of Number of Average Center Type Base Facebook Page Facebook Page Fans Fans Fans Super Regional 432 153 Centers 194 1,516 2,167 42.9% Regional Centers 777 178 242 479 594 24.0% Lifestyle Centers 522 114 137 1,859 2,064 11.0% Value Centers 94 24 27 1,027 1,341 30.6% Entertainment Centers 17 7 8 5,655 6,221 10.0% Total Industry 1,842 476 608 1,244 1,563 25.6% 12

More regional centers also have a Twitter account, but again, entertainment centers have more followers on average Change Q2 Number of Q3 Number of Q2 Average Q3 Average Q3 vs. Q2 Centers with a Centers with a Number of Number of Number of Center Type Base Twitter Account Twitter Account Followers Followers Followers Super Regional Centers 432 151 184 190 248 30.5% Regional Centers 777 154 201 109 125 14.7% Lifestyle Centers 522 81 109 479 467 -2.5% Value Centers 94 50 53 408 431 5.6% Entertainment Centers 17 6 7 1,117 1,161 3.9% Total Industry 1,842 442 557 252 281 11.5% 13

Between Q2 and Q3, regional centers experienced the most growth in the use of Facebook (36.0%), while lifestyle centers experienced the most growth in the use of Twitter • Entertainment centers have the highest percentage of Facebook pages (41.7%), while value centers have the strongest presence on Twitter (56.4%). % Growth Q2 % Q3 % % Growth Q2 % with Q3 % with in Number with with in Number Website Website of Centers Website Website of Centers and and with and and with Center Type Facebook Facebook Facebook Twitter Twitter Twitter Super Regional 35.6% 44.9% 26.1% 35.0% 42.6% 21.7% Regional 22.9% 31.1% 36.0% 19.8% 25.9% 30.7% Lifestyle 21.5% 26.2% 22.1% 15.5% 20.9% 34.7% Value 25.5% 28.7% 12.6% 53.2% 56.4% 6.0% Entertainment 41.2% 47.1% 14.2% 35.3% 41.2% 16.6% Total Industry 25.8% 33.0% 27.9% 24.0% 30.2% 26.0% 14

The average number of Facebook fans in Q3 is 1,563 per center – a 25.6% jump compared to Q2 2010 • The largest group, regional centers, continued to have the lowest average number of fans (594) and the smallest group, entertainment centers, continued to have the largest fan base (6,221). • The highest number of fans for any single center is 83,645 for the super regional center Mall of America. 15

The average number of Twitter followers increased from 252 per center to 281 per center – an 11.5% increase over Q2 2010, and falling well below the growth rate for Facebook • Similar to Facebook, the small base of entertainment centers are out on top (1,161) with regional centers lagging behind with the lowest average number of followers (125). • The highest number of followers for any one center is 5,205 for the lifestyle center The Grove. 16

Mall of America has three times the number of Facebook fans as the next closest ranking center Q3 Number of Type of Square Facebook Shopping Center Name Location Center Feet Managed By Fans Super Mall of America Bloomington, MN Regional 2,768,399 Triple Five Corp. 83,645 King of Prussia, Super King of Prussia Mall PA Regional 2,698,477 Kravco Simon Company 28,980 Westfield Garden State Super Plaza Paramus NJ Regional 2,132,112 Westfield Corporation 28,483 Super Westfield Valley Fair Santa Clara, CA Regional 1,478,023 Westfield Corporation 19,227 Super Simon Property Group, The Galleria Houston, TX Regional 2,350,308 Inc. 16,204 17

The Grove leads other centers with the greatest number of Twitter followers as of Q3 2010 Q3 Q3 Number Number Type of Square of of Shopping Center Location Center Feet Managed By Followers Tweets The Grove Los Angeles, CA Lifestyle 575,000 Caruso Affiliated 5,205 1,720 Super 2,768,39 Mall of America Bloomington, MN Regional 9 Triple Five Corp. 3,263 3,922 Universal City, Universal CityWalk CA Entertainment 400,000 Universal CityWalk 2,546 2,398 Winter Park Village Winter Park, FL Lifestyle 522,000 Casto 1,996 276 1,200,00 Continuum Property Belmar Lakewood, CO Lifestyle 0 Mgmt 1,948 391

Among all studied developers, only Glimcher employs Facebook and Twitter at all its properties 19

Simon and DDR saw the greatest growth in Facebook at their centers between Q2 and Q3; DDR and Glimcher saw the greatest growth in Twitter use during the same time period Q2 % with Q3 % with % Website Website % Growth Q2 % with Q3 % with Growth and and from Q2 to Website Website from Q2 Base Facebook Facebook Q3 and Twitter and Twitter to Q32 Simon Property Group 227 2.6% 21.6% 716.7% 14.1% 30.0% 112.5% General Growth Properties 190 87.9% 88.4% 0.6% 86.3% 86.8% 0.6% CBL & Associates Properties 83 3.6% 4.8% 33.3% 6.0% 7.2% 20.0% Westfield Corporation 54 25.9% 35.2% 35.7% 24.1% 27.8% 15.4% Macerich 51 31.4% 35.3% 12.5% 98.0% 98.0% 0.0% Developers Diversified Realty 46 8.7% 32.6% 275.0% 4.3% 32.6% 650.0% Jones Lang LaSalle 46 39.1% 58.7% 50.0% 32.6% 45.7% 40.0% Pennsylvania R/E Investment Trust 31 45.2% 48.4% 7.1% 3.2% 3.2% 0.0% Forest City 24 66.7% 70.8% 6.3% 66.7% 70.8% 6.3% The Taubman Company 22 0.0% 0.0% - 0.0% 0.0% - Glimcher 21 38.1% 100.0% 162.5% 38.1% 100.0% 162.5% Note the data for Simon Property Group was aggregated by Simon Property Group (Chelsea), Kravco Simon and Simon Property Group, Inc. CBL & Associates Properties was aggregated by CBL RM - Waco LLC and CBL & Associates Properties, Inc. and Forest City was aggregated by Forest City Commercial Management, Forest City Enterprises, Forest City Management, and Forest City Ratner Companies. 20

Case Study: Mall of America on Facebook • Among U.S. shopping centers 300,000 square feet or larger, the Mall of America has the highest number of fans on Facebook (111,554 as of September 2010). • In Q3 2010, The Mall of America posted an average of 49.3 times per month. This compares to an average of 39.5 posts per month among the top 10 centers. 21

Case Study: Mall of America on Facebook (Continued) Regular Fan Interaction • The Mall of America has proven that interaction is key when it comes to gaining the largest fan base on Facebook. • As evidenced by Mall of America, posts do not necessarily have to be shopping related to engage Non-center Specific Posts fans and create interest. • Special offers that are available exclusively to Facebook Fans are a great way to gain exposure and get customers in the habit of checking your center’s Facebook page on a regular basis. 22

Case Study: Forest City Facebook Use • Forest City currently has 24 shopping centers, 17 (70.8%) of which are on Facebook and Twitter as of Q3 2010. • Victoria Gardens in Rancho Cucamonga, CA has the most Facebook fans (7,135) while Northfield at Stapleton in Denver, CO has the fewest (380). • Although both centers seem to update at a similar frequency, Victoria Gardens tends to have a lot more fan interaction. • The post below demonstrates that updates do not always have to be about shopping to get a reaction and connect with users. 23

Case Study: The Grove on Twitter • Among all shopping centers 300,000 square feet or larger, The Grove, a lifestyle center in Los Angeles, has the highest number of followers on Twitter (6,539 as of September 2010). • The Grove tweets an average of 4.1 times per day, compared to an average of 3.1 tweets per day for the top 10 U.S. shopping centers. • Shopping center tweets are of comparable content to Facebook posts, yet occur much more frequently. Similar to Facebook, interaction through re-tweeting and replying is key. 24

Case Study: Simon Property Group on Twitter • Overall, Simon Property Group has experienced the third highest growth rate behind DDR and Glimcher in the use of Twitter from Q2 to Q3 at a growth rate of 112.5%. • Among 227 Simon Property Group centers, two have made the list of top 20 centers based on the number of followers on Twitter, The Galleria (1,678 followers) and Pier Park (1,450 followers) as of Q3 2010, these numbers have since grown. • The Galleria maintained its fourth-place ranking in the top five centers with the largest increase in the number of followers from Q2 to Q3 2010 (1,302 to 1,678). • The Galleria tweets an average of 3.4 times per day, while Pier Park tweets 2.9 times per day. Among the top 10 centers, the average number of tweets per day is 3.1. 25

Retailer Success: Ann Taylor – Skinny to Real Results: • Loyalty • Dialog/Engage ment • Sales • Publicity

Restaurant Success FourSquare Day: • Gift cards as bait • 50 Articles • 33% increase traffic • Total Cost: $1000

Foursquare Promotion

Content is King • Strategy • Facebook 70% • Consistency • Twitter 580% • Turnkey Promotion • Scalability • Check Ins 250% • Engagement • Retailer Results • Media Coverage

Social Media as a Leasing Tool

Online extension of Corporate Brand

Apps vs. Mobile Optimization

The Future of Mobile

Summary

http://www.centersocial.com	72
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http://shoppingcentersocialmedia.com	3

Center social webinar

by kivey on Oct 01, 2010

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Center social webinar — Presentation Transcript