In the marketing world, Facebook spending has become a controversial topic. Some argue Facebook is a giant waste of resources due to the low click-through rates. Meanwhile, others argue that it can bring you a return of five times your original investment. The answer is simple: Facebook can be effective. The key is to take harness Facebook’s network and use it to your advantage.
Building a fan base is the first essential step when introducing a brand to Facebook. But it doesn’t stop there. Encouraging fan engagement, expanding reach, and taking advantage of amplification are also imperative steps. By using a combination of media, Facebook can provide brands with the worthwhile ROIs.
ComScore’s white paper, “The Power of Like: 2” emphasizes that including owned, earned and paid media will assist in reaching Facebook marketing goals. Owned media is the brand page created: it is home to the brand’s content and serves as the face of the brand. Earned media is your fans’ engagement with and sharing of your content. When a fan shares a story from your page with their friends, amplification kicks in. Amplification rates usually extend the reach of your content by 50 to 200 percent. Lastly, there’s paid media, which consists of advertisements and sponsored stories on Facebook that lead users to your page. The convergence of three types of media in one space provides a social context to your brand, weaving it into users’ virtual interactions.
Then there’s the digital advantage. Analytics and data available to all brand page managers, making it simple to narrow down demographics and target small and specific markets. Information regarding “Likes”, age, sex, location, relationship status, education, and more gives the smaller reach of Facebook an advantage. For example, if a user likes one of our community pages, we could use that information to guide them to the corresponding county page, consequently helping the user find more content relevant to their interests, while simultaneously promoting our pages. Digital advertising certainly provides advantages like easy-to-accumulate data and insights. Facebook specifically allows for social monitoring and listening, which helps brands understand their consumers and the conversation surrounding their product.
The moral of the story is that Facebook is not win or lose. There are tons of factors that play into a page’s ability to generate return. It’s true, some industries are more likely to experience higher ROIs, and some brands just flop. However, by strategizing and using the full scope of Facebook’s offerings, there is potential to succeed.