Class Notes October 13, 2015

The 2nd test will be Thursday, October 15.  Be on time. No makeups will be given. You, per the syllabus, can write a paper to make up your grade. I pick the topic.

The Test will be derived from the first three chapters of Jab, Jab, Jab, Right Hook.

We will review and go over Chapter 3 (about Facebook) today. Hope midterms are going well.

Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World by Gary Vaynerchuck. Chapters 1-3

1. Your number one-job is to tell your story to the consumer wherever they are, and preferably at the moment they are deciding to make a purchase.
2. 325 million phone subscriptions in the United States.
3. ½ are on social media
4. 71% of the people in America are on Facebook. Half a billion are on Twitter globally and check it at least once a day.
5. Social media has altered how people fall in and out of relationships, stay in touch with family and friends and find jobs.
6. One in four use Social Media to inform purchasing decisions.
7. Boomers, who control 70% of the spending, have increased their Social Media use by 42%
8. Social Media is no longer tied to laptops and PCs.
9. There are three types of media: Traditional (radio, TV, print), digital (websites, banner ads, e-mails, SEO – search engine optimizations) and Social Media. Social Media is pulling away from the first two.
10. IT took 38 years before 50 million people gained access to radios
11. It took TV 13 years.
12. It took Instagram a year and a half.
13. The fastest-growing marketing sector getting people’s attention is Social Media.
14. All forms of Marketing must contain Social Media yet 1% of ad budgest going to Social Media.
15. You can’t just repurpose your content across different platforms.
16. Great Marketing is about telling your story in such a way that it compels people to buy what you’re selling. That’s a constant. What’s always in flux, especially in this noise, mobile world is how, when and where the story gets told and who gets to tell all of it.
17. “Jabs” are the lightweight pieces of content that benefit your customers by making them laugh, snicker, ponder, play a game, feel appreciated or escape, “right hooks” are calls to action that benefit your business.
18. Tradition marketing campaigns would sit back and see what happened. Today there is no six-month campaign. There’s now a 365-day campaign.
19. Like boxers, great story tellers are observant and self aware. And attuned to his or her audience.
20. Today, real-time feedback that Social Media allows makes it possible for brands and businesses to test and retest with scientific precision.
21. A great marketing story is one that sells stuff. It creates emotion that makes consumers want to motivate people.
22. Your story is not powerful enough if all it does is lead the horse to water. It has to inspire the horse to drink – the only story that can achieve that goal is the story told with native content.
23. Native content amps up your story’s power. It is crafted to mimic everything that makes a platform attractive and valuable to a consumer.
24. Whatever story you tell must remain true to the brand.
25. Different platforms allow you to highlight different aspects of your brand identity. Each jab tells a different part of your story. Have fun with it.
26. A perfect right hook always includes three characteristics: A. They make the call to action simple and easy to understand B. They are perfectly crafted for mobile devices. C. They respect the nuances of the social network for which you are making content.
27. Content for the sake of content is pointless. Only OUTSTANDING content can cut through the noise.
28. Outstanding content’s six rules: 1. It’s Native Content – Content is king, but context is God. You can put out good content, but if it ignores the context of the platform on which it appears, it can fall flat. Consumers are on social media for value. Science – social networking sites light up people’s dopamine pathways and the pleasure centers of the brain. In the right social-media savvy hands, a brand that masters native content becomes human. 2. It doesn’t interrupt. It has to be the entertainment. (think about today’s ad-skipping services). 3. It doesn’t make demands – often. Make it simple, make it memorable, make it inviting to look at and make it fun to read. And make it for the audience, now yourself. Be generous, informative, be funny, be inspiring. 4. Leverages Pop Culture. Create content that reveals your understanding of the human condition – issues and news that matters to them. 5. It’s micro: Think of content as micro-content. Tiny unique nuggets of info, humor content or inspiration. 6. It’s consistent and self-aware.
29. Want to know what content people find valuable? Look on their phone home screens. 1. Most popular apps – social networking (people). 2. Entertainment (escape) 3. Utility (value service – Google maps for example) So your content must fall within these three areas. It can’t be information that makes people realize they are being sold. MUST make emotional connection.
30. Facebook: Founded in 2004.
31. Was called Thefacebook.com until August 2005.
32. The Like Button was originally supposed to be called the “Awesome” button.
33. Mark Zuckerberg initially rejected photo sharing, he had to be persuaded that it was a good idea by then-president Sean Parker
34. There were a billion monthly active users as of December 2012
35. There were 680 million monthly active users of Facebook mobile products as of December 2012.
36. One out of ever five page views in the U.S. is on Facebook.
37. Facebook wants users to see things that they find relevant, fun and useful – not annoying and pointless or else they’ll abandon the site. Which means you’d better create content that’s relative, fun and useful, too.
38. Facebook settled on an algorithm called EdgeRank. Every interaction a person has with Facebook, from posting a status update or a photo to liking, sharing or commenting is called and “edge.” And theoretically, every edge channels into the news stream. But no everyone who could see these edges actually does, because EdgeRank is constantly reading algorithmic tea leaves to determine which edges are most interesting to the most number of people. It tracks all the engagement a user’s own content receives and well as the engagement a user has with other people’s or brand’s content. The most engagement a user has with a piece of content, the stronger the EdgeRank believes that a user’s interest will be in a similar content and it filters that person’s news stream accordingly. A randomizer ensures that occasionally we’ll see a post from someone we haven’t talked to in years—thus keeping Facebook “fresh.” For example, EdgeRank makes sure that a user who often likes or comments on a friend’s photos, but who ignores that friend’s plain-text status update, will see more of that friend’s photos and fewer of his status updates. Every engagement, whether between friends or between users and brands, strengthens their connection and the likelihood that EdgeRank will push appropriate content from those friends and brands to the top of a user’s News Feed. That’s of course where you, the marketer , what to see your brand or business. It’s the user’s response to the “jab” that matters most. Through EdgeRank, Facebook weighs like, comments and shares. But it currently does not give greater weight to click throughs or any other action that leads to sales. Facebook doesn’t care – their greatest priority is making the platform valuable to the consumer, not to you the marketer. On Facebook, the definition of great content is not the content that makes the most sales, but the content that people most want to share with others. The only way to reach those consumers is to get them to engage, then its up to you to create not just great content , but content that’s so great they want to engage with it. Facebook constantly changes the algorithm. So what works today won’t necessarily work tomorrow.
39. January 2013, Facebook CEO Mark Zuckerberg announced that Facebook should now be considered a mobile company.
40. Six months later Facebook reported 41 percent of its ad revenue came from mobile, equaling $1.6 billion in the second quarter of 2014.
41. No space on the mobile for ads per se. Your content – your micro-content, has to be the ad.
42. Sponsored stories. Launched in 2011 but it was the fall of 2012 they came into their own because Facebook adjusted the algorithmic adjustment that would purposely limit how many people would organically see a brand’s posts even if they had already become fans by liking the brands page.
43. By Sept. 2013, Facebook’s algorithm will only allow your content to reach about 3 to 5% of our fans. To reach more, you have to post some extremely engaging content. Or your have to pay.
44. Unlike TV, your content’s reach increases only when you’ve put content that people actually want to see and think others do, too.
45. Explanation of sponsored stories: 1. Simply extends your chosen piece of content to the news streams of a larger number of your fans than the regular 3 to 5% that would normally see it. That’s called a Page Post. 2: The other extends your reach the same way, but it allows you to highlight the fact that a fan has engaged with your content and tell that fan’s friends about it. You can choose to create this kind of sponsored story around a check-in, a like and several other actions.