Is a Facebook Like Campaign Worth the Resources?

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Is a Facebook Like Campaign Worth the Resources?

  1. 1. Is a Facebook Like Campaign Worth the Resources? David R. Anderson June 8th, 2012
  2. 2. “…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
  3. 3. How has the model changed? Facebook  and  Forrester,  2011  
  4. 4. “…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  
  5. 5. David Anderson•  Realtor•  Headhunter•  Hotelier•  Internet Retailer (for the last 10 years)
  6. 6. RoadmapIs  a  like  campaign  worth  the  resources?   Where  does  Facebook  fit  in?   How  to  make  Facebook  work  for  your  business   Examples   Cost  and  success  
  7. 7. 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?  
  8. 8. Yes, a Like campaign coupled with acommunity building campaign is worth the resources.
  9. 9. 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  
  10. 10. 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  
  11. 11. What happens if you aren’t a part of the conversation on Facebook?
  12. 12. “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
  13. 13. “…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  
  14. 14. Community Building Campaign•  Long-term social media strategy•  Ongoing, two-way communication with customers•  Build it now!
  15. 15. 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
  16. 16. 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
  17. 17. 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.
  18. 18. 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
  19. 19. 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  
  20. 20. 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  
  21. 21. 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
  22. 22. Best Practices: Like Campaign Sweepstakes
  23. 23. 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!”  
  24. 24. Best Practices: Facebook Ads •  Call to action •  Explain benefit of becoming fan •  Use relevant, eye catching photo
  25. 25. Best Practices: Email Campaign
  26. 26. Best Practices: Website Links
  27. 27. Costs•  Employee: 2 hours per day- $15/hr- $600/mo•  Facebook Ads: $600/month ($20/day)•  Giveaways: $X/month?•  Donations: $X/month?
  28. 28. How to measure results?•  Long-term relationship building•  Branding•  Interactions•  Shares•  Likes
  29. 29. Like Us!http://www.facebook.com/WildlifeWonders

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