I know everyone is excited about social marketing platforms. But let's face the fact that Facebook is - yet another - great communications platform. Why? The fact that 60%-70% of the population has an account, is similar to the penetration levels we saw with the new use of the Internet, email, mobile, and texting.
For advertisers, what worries me about Facebook is the lack of true comparative results, and that the platform has really not succeeded as an advertising solution.
But you have to be there, right? Right. Just like when you had to get your first website up, your email platform, and your mobile phones.
In looking at the research, the benefits I do see that Facebook offers are as follow:
For advertisers, what worries me about Facebook is the lack of true comparative results, and that the platform has really not succeeded as an advertising solution.
- Over 76% of Facebook advertisers are NOT seeing the ROI and are not completely satisfied (WFA/Milward Brown).
- Product recommendation sites, are 5 times more influential over eventual shopping decisions than Facebook (Goldman Sachs).
- Over half of Facebook users eventually UN-like or ignore companies they’ve “liked” (Exact Target, CoTweet Study)
- 70% of Facebook users are outside the USA (Facebook).
But you have to be there, right? Right. Just like when you had to get your first website up, your email platform, and your mobile phones.
In looking at the research, the benefits I do see that Facebook offers are as follow:
- It’s a great place when you’ve capped out on content sites and SEM capacity. But don't expect that click to have the buying intent that a Google click will.
- Facebook is successful with SMALL, local businesses who don’t need a point of contact. That’s similar to SEM. And good luck trying to get a rep from Facebook to call you back.
- It is a good place to offer discounts, increase sampling and drive people to LOCAL businesses.
- Great for movies, TV, personalities and HUGE lifestyle brands who want to stay in touch with consumers.
