How Social Media Helps With Disaster Response

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

April 4 (Bloomberg) -- Vaynermedia CEO Gary Vaynerchuk and Clarity Media Group Founder Bill McGowan discuss business use of social media on Bloomberg Television's “Market Makers.” (Source: Bloomberg)

Legs this is market makers with erik schatzker and stephanie ruhle.

We will spend the next hour looking at whether twitter or facebook can boost profits, who is really turning clicks into green dollars?

Epic fail.

The buddies have had plenty of social media debacles.

We will look at a recovery strategy.

Is it real or the onion?

Sometimes it is hard to tell with the satirical newspaper.

We will talk about creating viral content.

Clark's i am erik schatzker.

It is going to be a great hour.

We will take care of business now.

Here are the top stories from around the world.

The march jobs report came in a tiny bit like.

Employers added 192 thousand jobs last month, lower than a cost of -- lower than economist estimates.

The unemployment rate held steady at 6.7%. of the world's two largest cement makers are confirming they are in an advanced merger discussion.

Of the two companies -- there talking about a joint committee that will have a market share of $50,000 to $50. -- of $50. jcpenney is launching an exclusive lingerie line.

They will roll out the connection next week.

Would you say pizzazz?

That is what they are looking for.

I don't think elle mcpherson would be into that.

We have a very special hour for you.

We are looking at what companies really get out of the social media campaigns.

It seems like all businesses big and small talk about is social.

Um how many twitter followers and facebook fans they have.

Do these clicks translate into dollars?

It is a question we are going to be asking.

Gary is the author of "jab, jab, jab," which is about how companies can use social media to their advantage.

This man is a media consultant who knows how to get the right message out.

I wanted to start by talking #fail.

Because there is so much access to the outside, it seems like we see companies get really fired up here.

Can i go on the record saying jcpenney -- i want to get on the record, it will not work.

Jcpenney will not be around much longer.

On the record.

That's their move?

That's one of their moves.

It's clearly a move they decided to push for places like this to talk about.

It is on the upper echelon of their moves and they are trying to rent equity from a depreciating asset.

What do you know about retail?

What you think jcpenney should do?

Thank you.

Jcpenney's brand equity is in such a negative place that was -- what they should be looking at is alternative delivery mechanisms.

First they were going to put anything on sale, they bring the apple guru to come along and change it.

They are in a dying business.

Their brand has no equity.

Renting it from celebrities is not going to fix that.

When you are in the position they are in, you basically have to destruct yourself at a very high level.

I would get out of every single retail situation they are in.

If you are a store trend find your way out and because of places like bloomberg, he doesn't necessarily have any experience selling clothes.

I think these are the types of conversations that happen in high-level messaging sessions.

Yet figure out what image you are going to put out there to your core consumers.

We were talking about #sales.

Of this is an example of people who have taken their finger off the polls of their poor consumer.

-- their core consumer.

Sometimes people are just dumb.

They care if people stop buying movie tickets.

It is a nice position to be in.

But you don't get to be a celebrity, you are a starving artist unless people buy.

Gary b did go into his dad liquor store business with $3 million per year and in 1996 decided to sell that on this internet thing that people did not think was going to happen, and went up from three to $60 million.

Glenn at an jcpenney -- what amazon is going to do to them, you hit your crescendo.

She understood.

Jcpenney had their moments.

The market conditions changed.

You become a fat cat.

You're happy and content.

She is not.

The term is very obvious.

This is the same old game.

Few individuals and organizations involved.

You talk about high-level messaging discussions.

Of at the end of the date the delivery has to be a low level topic.

I don't think there's the same amount that goes into what you tweet out to your followers.

As what would happen if a company had their guest on your show, there is a session where there is planning on what is going on.

It is very spontaneous and potentially careless what you put out through twitter.

It is not the same kind of planning execution.

If i am the you -- if i am the new york times i have standards.

I cannot tweet out a picture of kate upton wearing a begin bikini but buzz feed can.

How do you balance the fact with these outliers i can do anything?

It's a dial you have to gradually turn.

I don't think this is something you are going to change overnight.

He said consumers just care about clicks.

Companies care about clicks.

I just wanted to follow.

If companies just care about clicks, what happens when you are an established company?

We would be arguing if hip-hop is quality to that loyalty enough to be music in 1990's. what markets change a have a decision.

You can stay you make a good point, but the discussion in 1989 is we would not have known if hip-hop was here to stay.

So you have to decide if this is a trend i want to ride or if i'm going to make an investment in something that ends up eating a joke.

Is it a race to the bottom?

When we look at these fails, it is the same kind of problem that exists when clients worry about the quote being taken out of context.

It is a narrow thing that is tweeted out.

You don't see the context before and after.

What went out over the air did not create a stir when he did it on the show.

Taking out of context, then it becomes a problem.

This is where i want to jump in, so what becomes a argument i have.

Bp poured all of their oil in the gulf.

Tylenol twice with their pills.

I am on phone calls with fortune 500 companies are doing a random tweet.

There is no one move that puts you out of business unless it is the highest level of murder.

What you are doing is getting an argument to pay no attention to twitter whatsoever.

I would argue that people aren't paying attention as much as people think.

Everybody is mad at facebook for their algorithm change.

I'm saying could, i would rather let people have -- let people consume.

This is about to go to a television cusp -- television commercial.

The people pay attention to that ad?

They are looking at their phones and fast forwarding.

They have real attention issues in the marketplace.

Him us you are an advertiser, everyone is paying attention.

There are companies that decided we are going to delegate our social media execution to the youngest people in the world -- youngest people in the room.

This disconnect between the decision-makers who don't understand social media and these young people -- who may not understand it.

Our social media, this default your 22 -- we have all these old white fat ceos.

It doesn't feel like great business.

At 22-year-old just doesn't have the experience or sensibility we are talking about defense.

Where i get frustrated is the offense.

Nobody is on the offense putting out the kind of con -- putting up a kind of content people want.

I would disagree and say it is not a matter of nobody trying.

There are two percent of brands at this level that are doing it right.

They are coming on today.

Thank you so much for joining.

He is the author of pitch perfect.

Coming up, building your brand through social media.

We are going to continue the conversation.

We are going to be speaking with the head of the satire newspaper, the onion.

We want to bring you our headline quiz right here.

Which one is real and which one is from the onion?

We will be back in just a few.

You're watching bloomberg tv.

We have some breaking news.

The 70's dan loeb fight continues.

All it's ago them loeb's website, he has come out with an official letter, getting aggressive.

I want to show a quick excerpt.

This has been going on for weeks.

This letter, we need to put into context, is a response to a statement made yesterday in which the company, and a letter to shareholders, said that dan loeb was called into question -- his ability to work constructively as a director.

It says he adds no relevant schools, experience, or expertise.

Download obviously feel -- them loeb -- dan loeb feels differently about this.

The money they're spending is going to the wrong place, the model that it employs might otherwise go to christie's and is all wrong.

It is as if they are saying we lost our mojo.

They are well-known consequences of government and malfunctioning board processes.

We have heard from other well-known guys, who dan loeb has a ton of respect for.

The art market is massively overvalued.

If you seen any of these auctions, it is blowing people's mines.

Dan is saying no way.

With the explosion of boomer wealth, there are more and more new people in the high-end art market.

People are going to sit all day long look how expensive it is.

There is only so much out there.

We are going to need another response.

We are actively trying to get it.

The mud fight continues.

The investors ain't shy.

Let's go back to our social media hour.

Which headline is real and which one is from the onion?

Gary is still with us.

Truly you are a man who understands humor.

What is your cassie echo american airlines.

Airmen -- american airlines is fake?

Real.

No.

i was just kind of play along.

You would die.

That was easy in the scheme of the onion game.

I got it wrong.

Did you really?

There you go.

We want to continue our social media conversation.

I want to bring in another superstar.

He is the ceo of a startup that helps celebrities, fans, and all sorts of people billed stardom through social media.

Some of his clients include walk -- including mark wahlberg and hugh jackman.

We want to take a look at the role of celebrities in social media.

You talk a lot about the importance of influences.

I first want to define what that means.

Of the role of celebrities is really changing.

When we first started the audience, it was really somebody who existed in traditional media and was now starting to embark upon telling our story inside social systems.

Three years later, what we are really seeing is there is a whole crop of people that natively grew up inside of facebook and tumbler and twitter.

We see the rise of a whole new class of artists that we call an influencer.

These people have incredible reach, whether it is -- who has 1.3 million followers on instagram or nash with 6.5 million on vine or josh peck on vine, this is a new era of people that can talk directly to an audience, can influence decisions, can support brands and products among whether they are entertainment or consumer goods, and have a tremendous amount of reach and power inside the social media ecosystem.

All of her just talked about the importance of growing up natively on a platform like tumbler or twitter.

Do you agree?

I am a product of it.

That means that this can only be acquired genetically.

It can't be learned environmental he.

If you are too old, you are sol?

I think old is a default people go to.

It is old in behavior and understanding and actions.

It is not old in your age.

Being on youtube in 2006, a bunch of the early starts were in their 40's. people don't remember this, there were several people that were popping.

We are living in a world where exposure is fragmented.

The year ago i started an agency only to represent divine celebrities.

These people have enormous reach and there's a big difference.

I would love to hear what other has to say.

We're dealing with traditional celebrities, ones that have done commercials and other things in the past.

There is a little bit of an equity loss for these fresh faces are having an upside.

It is really an interesting dynamic.

Video killed the radio star?

Vine killed the television star.

These dynamics are in play.

I agree completely with what you are saying.

You absolutely are an influencer in the side -- inside of the world we live in.

Right now we are behind the number one movie in the world, the number one business book in the world, the number one dance song in the world.

And the number one viral ad in the world.

The common denominator among all of those phenomenon is that influencers played an enormous role in pushing out and connecting the dots the between great content -- you talk a lot about great storytelling.

Great storytelling only goes so far.

They have to be aware of it.

That's right.

You need a good group of people.

There is that.

There is paid tactics, smart paid advertisement, a lot of ways to light the match.

Influencers will always be a part of that process.

Something that came to mind was measurement.

You say you are behind all of these number one things.

I judge number one by how much money it makes.

When we are talking about number one, how is that measured by tweets -- how is that measured?

By tweets, by followers?

Measurement starts with the concept of how many people did it reach, who are those people, are they the right people?

All of these platforms now have a tremendous amount of back end data.

To be number one, it means you are selling something.

It is extraordinarily easy to quantify it.

Selfie is on its way to be a platinum single.

There is no debating now the power of these.

We are looking at this selfie video.

What does it take to go from -- selfies are amazing but when i look at it it makes me think if this is a one hit wonder.

How do you take these flashes of fantastic and make them sustainable?

These artists that we are working with our extraordinarily talented.

There are not that many people that get this amount of attention.

When one hit wonders happen in the real world -- you didn't know in insync wasn't going to be a one-hit wonder.

Oliver is right.

We should not the held to different standards in digital and social that we don't do in original.

It is a lot easier with all of her and i with the data we get to measure the actual results then getting an ad him bloomberg's magazine or tv show.

Traditional media does not go back to a sale as easy as digital does.

We accepted the math by companies that drive this reporting.

The new stuff is very quantifiable.

Those videos could have a call to action at the end of the day.

There's not a single place where we have a place to do a direct sales attribution.

Do companies understand this order do they hire the likes of you and gary out of fear?

I don't think it is out of fear.

We are going on to her together.

I think what happens is that stomata -- is that smart ceos are realizing that a big tidal wave has just washed through.

There are a lot of pieces that we have to put together.

If the ceo understands they need to be a publisher, look at some of the work we are doing.

A 20-year-old consumer behrendt, and we have introduced influencers into it.

We are seeing a uptick in interaction and 600,000 new women -- new women going to the store in the last three months online.

We are converting them into an instagram business, we have these amazing influencers.

We are seeing cannibal result from companies like ford and others.

Hang on because we are going to take a quick commercial break.

A little more from the headline quiz.

We will talk with the president of the onion in just a moment.

Vladimir putin wants all russians to be tough like stephen siegel.

I love that one.

We will have more.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change