Chinwag Insight: Facebook Marketing - Monica Shaw, Market Sentinel - Measurement & Monetisation
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Measuring engagement on Facebook pages is challenging but important for marketers to prove the value of Facebook. While likes are a common metric, they do not indicate real engagement with the brand. More meaningful metrics include comments from "core fans" who engage more than average. Even celebrities struggle with engagement, so brands cannot expect easy success. Apps provide an opportunity to access richer user data that could inform marketing. However, proving return on investment from social media remains the greatest challenge due to lack of data linking activities to sales.
![It’s not easy but someone has to do it. Measures that Matter for Facebook Marketers Chinwag Facebook Marketing Conference 6 th October 2011 @marketsentinel [email_address]](https://image.slidesharecdn.com/monicashaw-marketsentinel-111011074236-phpapp02/85/Chinwag-Insight-Facebook-Marketing-Monica-Shaw-Market-Sentinel-Measurement-Monetisation-1-320.jpg)
![Are you up to a good challenge? ,[object Object],Ad Click-Through Rates 0.011 – 0.165% 0.4 – 0.7%](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Chinwag Insight: Facebook Marketing - Monica Shaw, Market Sentinel - Measurement & Monetisation
- 1. It’s not easy but someone has to do it. Measures that Matter for Facebook Marketers Chinwag Facebook Marketing Conference 6 th October 2011 @marketsentinel [email_address]
- 6. Even celebrities are struggling to engage. How does this pan out for celebrities?
- 7. If even celebrities are struggling to engage, how can brands expect to do better? friends.skyttle.com
- 8. Find themes that evoke an emotional response. friends.skyttle.com
- 9. Learn from the most active discussions. friends.skyttle.com
Editor's Notes
- Facebook poses a few challenges for marketers - low click-through rates suggest ads aren't the optimal way to make use of Facebook, so we look to our fan pages to engage fans on different levels, by posting videos, running contests, and sharing other types of quality content that we hope will engage people and convert them into buying customers.
- However, in order to prove the value of this, we need to measure Facebook.
- We've all seen Facebook contests that have generated thousands of "likes" for a brand - but just because a page has millions of likes, it doesn't means the so-called fans stick around and pay attention to the brand messages for the long haul.
- What we really need to measure are "core fans" - fans who are really active on the page. We define core fans as fans who have commented more than average for the Page. When you look at this metric, things get a bit more interesting.
- For example, we did this for celebrities and found that most celebrities have just a tiny percentage of these really active core fans. (In fact, the top Facebook pages are all celebrities – brands don’t do nearly as well. Brands also don’t appear amongst Facebook’s top 100 apps.)
- If celebrities can't engage fans, how do brands expect to do better?
- One way is to study the contexts of conversation: what are the common themes?
- We can also look at the most active discussions. These measures reveal which types of content are likely to evoke an emotional response.
- The ongoing challenge for Facebook and marketers is lack of data - Facebook is sitting on a rich source of contextual user data that it doesn't have access to due to privacy restrictions (one of the reasons their ads are so unsophisticated and get low click through rates).
- Brands that create apps have an opportunity here - when a user installs an app, they give the brand access to their user data, offering an even richer source of consumer data that could inform marketing decisions.
- Ultimately what we want to do is prove ROI. This is still an unsolved problem due to lack of data and difficulties measuring the flow of data from social media to sales. This, of course, is the ultimate prove of Facebook's value for brands, and we'd love to hear people's ideas for showing this.