Is a Facebook Like Campaign Worth the Resources?Presentation Transcript
Is a Facebook Like Campaign Worth the Resources? David R. Anderson June 8th, 2012
“…the model [was] very simple. You run $100 in tv ads, you made $110 in profit. And this was true for 35 years. Mad Men was not about good ads, it turns out if you just ran a lot of ads — of any kind — they made more money than they cost. And just in the last few years, it all fell apart … the underpinning of our entire economy went away. If you’re throwing brand advertising at the masses and hoping something will stick, you’re playing a game that’s already over. Consumers have taken their ball and gone home.” Seth Godin
How has the model changed? Facebook and Forrester, 2011
“…revenue growth will amount to $30 billion for social commerce in 2015, meaning that half of online commerce will come from social media that year.” Moontoast, “The Social Commerce Opportunity” 2011
David Anderson• Realtor• Headhunter• Hotelier• Internet Retailer (for the last 10 years)
RoadmapIs a like campaign worth the resources? Where does Facebook ﬁt in? How to make Facebook work for your business Examples Cost and success
Is a like campaign worth the resources? NO YES• No immediate positive ROI • Creation of a branded asset• Not currently a strong sales • Community platform • Low potential cost per new like• High potential cost per new like • What happens in three years if• Hard to measure conversion you don’t?
Yes, a Like campaign coupled with acommunity building campaign is worth the resources.
Why Facebook?• 46% of social media followers feel shopping their retailers “reflects their personal lifestyles” vs. 21% percent of nonfollowers• 53% choose their retailers when they want to “indulge” themselves vs. 28% of nonfollowers• 46% of social media followers feel their retailers add “joy and pleasure” to their lives vs. 20% of nonfollowersSocial media is an effective vehicle for building emotional connections, and stronger emotional connections lead to better business outcomes. MoJsta, 2011
Customer Social Behavior• 83% of consumers tell their friends when they get a good deal• 90% of people trust recommendations from their friends• 300% more likely to buy when recommended by a friend• 1000% more likely to buy after seeing that a friend purchased it JWT Intelligence, Dec 2010 Nielsen, April 2010 Facebook, August 2011
What happens if you aren’t a part of the conversation on Facebook?
“The Like is not the be-all and end-all of Facebook campaign success; it is merely the first step.Fifty-five percent of those who Like a brand page say they later "unlike" or change the settings so that the brands messaging doesnt show up in their News Feeds.” Irit Batat, VP of Marketing for AMEX Israel
“…most retailers are “infatuated” with the Like button and thus use any number of gimmicks – contests for example – to entice people to click. Putting a value on a Facebook Like – certainly counting on it as a predictor for future sales – is a slippery if not impossible business. Instead retailers must make a leap of faith that the campaign will somehow, somewhere along the line actually get consumers to buy." Bill Bass, Charming Shoppes Storefront Backtalk, 2011
Community Building Campaign• Long-term social media strategy• Ongoing, two-way communication with customers• Build it now!
Where should community building go in my small business strategy?1. Website, landing pages, checkout2. SEO3. Google pay per click campaign4. Adcenter5. Email marketing campaigns6. Social Media employees and presence7. Facebook page and timeline8. Community Building Campaign
Community Building Best Practices“Social networks are communications platforms, so maintaining a flow of communication with – and between – your customers is key. Try to build a community around your items, engage your customers, encourage fan-to-fan communication and product discussions, then simply offer a convenient way to buy.“ Ruslan Fazlyev, CEO of Ecwid
Community Building Best Practices1. Build a minimum viable audience with useful, educational, and entertaining content.2. Listen carefully to their frustrations, fears, problems, and desires.3. Create or adapt products and services that better serve them.
Tools to Build Audience• Facebook Ads• Like campaigns, giveaways, contests• Email to existing customers about Facebook page• Link to social media outlets on all customer communication• Link to social media outlets from website• Encourage employees to engage their network
Best Practices: Engage Fans• “You gotta see this” factor• Post topics: • Quotations • Industry Tips • Project Ideas • Text Comments • Pictures • Videos • Product Info • Discount Specials icanhazcheezeburger.com
Best Practices: Facebook Posts• Schedule posts strategically as the average post lifespan is 11 -22 hours• A page like creates the possibility of your posts appearing in your fan’s newsfeed so friends will see• A comment is considered a stronger endorsement and a validation of interest which equals higher relevancy• A share strongly influences future relevancy and the virility of a post Pam Starr for Constant Contact, 2012
Best Practices: Email & Like Campaign • Ask fans to share • Ask fans to get their friends involved • Give away something that attracts your target market • Use photos
Best Practices: Like Campaign Sweepstakes
Best Practices: Facebook Ads Type of Ad New Likes Cost Per Like February Recent Facebook 51 $1.66 posts March Photo and link 71 $2.18 May Call to acJon, 489 $0.39 “Become a Fan!”
Best Practices: Facebook Ads • Call to action • Explain benefit of becoming fan • Use relevant, eye catching photo