Let’s try to understand a little bit more this ‘social’ interaction that’s actually very impersonal. Late 2003 (yes, that far back) Mark Zuckerberg started a very successful website to connect Harvard Students to rate “Hot or Not” pictures of other students as a joke. After the success, early in 2004, TheFacebook was created… a few twitches later the “first” mayor social network Facebook is worth 50+ billion dollars.
Now, internet purist will say I’m wrong, and I am, but If you don’t get Facebook, Twitter & LinkedIn, it’s going to be a very uphill battle for you!. If you’re interested in the full timeline, below I’ve attached a good one I found in socialcommercetoday.com.
Back to Facebook: This website is for friends to share what they’re doing, thinking, reading, viewing… Who’s been with whom, how we spent our vacation trips, etc. It became so popular that Brands started to look for opportunities and after Facebook went public, brands got an opportunity late 2007 with the introduction of “pages”.
A lot has changed since 2007, but Facebook’s Social Media Commerce is predicted to go above 30 billion dollars by 2015 (mostly on Ads). Imagine what companies are earning from this investment!!!.
Is social good for business?
According to an Ogilvy Chat Threads study on the sales impact from social media:
- Social media exposure is directly linked with increases in sales. Integrated social media (social content + one or more other channels) exposure is linked with significant increases in spend and consumption—for example, social media + PR exposure was associated with a 17% spend increase compared to the prior week without these.
- Integration matters. Exposure to social content was most consistently effective when it was combined with exposure to other types of media channels.
- Social media is a top driver of impact. Out of the 20 channels analyzed, social media was No. 1 or No. 2 in magnitude of impact on spend and consumption.
- Social media exposure is directly linked with changes in brand perception. Social media by itself is particularly effective at rapidly impacting brand perception—exposure to social media generated the largest impact on brand perception over a short (one week) period of time.
- Brand exposure in social media is low. Weekly social media exposure to brand mentions was relatively low (24% of panel) vs. television branded exposure (69% of panel), even in this selected high social media consumption group of consumers.
You know the why, but how?
Social Media Marketing is not as easy as some might want, nor as difficult as other might want to sell, but here are a few pointers about how to market effectively on facebook:
- Pages are there for a reason: don’t go building a profile for your brand. It’s not a friendship you want with consumers, they could get annoyed by invitations and a personal profile is way more difficult to manage than pages
- Hear your audience before go-live: I have said it many times, but I will repeat that you must listen to your audience before you try to speak! It will help you a LOT!!!
- Loyalty instead of acquisition: Many will disagree, but this social site is more effective with Frequency and Yield than with Reach (Read my ROI article if you don’t understand).
- Modern High-Quality Image is a must: you just have to see the difference (eg: HERE)
- Keep up-to-date: The problem of a one shot campaign (more here) is that with Facebook Facelifts you get old… Keep your brand on track and refresh with every change.
- Don’t expect much about Facbook ads: I know, I said it’s a $30 Billion business, but with CTR below 0.17% is more effective to place ads with google SEM.
- Talk to your consumer: Coca-Cola doesn’t have 35+ million ‘likes’ and almost 480K people talking about the brand because its tasty… Coca-Cola engages with consumers, responds to consumers, talks to consumers!.
- Make it personal:Old-media was never supposed to get personal. Today, you’re marketing your product one consumer at a time, talk in first person, give your name, be authentic!.
- Friends, followers and likes are NOT sales: If your facebook page doesn’t convert fans to consumers… you’re doing something wrong!
- How Brands Should Think About Facebook: a Loyalty Program (adage.com)
- Facebook – The Complete Biography (mashable.com)
- Infographic: The history of F-commerce (socialmediainfluence.com)
- 5 Cool Social Media Infographics (jeffbullas.com)
- 20 Best Designed Facebook Fan Pages (incomdiary.com)
- 65% of Marketers Don’t Track Leads From Social Media (blog.hubspot.com)