I recently went through and purged my Facebook page. I looked through friends that I no longer actively follow (or care to follow), updated some of my interests, and went through my list of companies and brands that I have “liked.” Through this process, I realized there were brands that I never even remembered liking—I decided it was time to call out all those brands that ineffectively utilize social media. These culprits aid in a lot of misconceptions and set bad examples for future brands looking to market through social media. When clients talk to us about “doing Facebook,” they often don’t understand or value the true depth of possibilities that a paid social media campaign can offer. I’ve put together a list of some common undervalued benefits or aspects of “The Power of Like” through Facebook:
1. Return On Investment (ROI):
Measuring social media is quite different from traditional media. Facebook doesn’t give you GRPs or any of the commonly found metrics in traditional media. Based on the campaign goals, ads are set up to offer coupons which can be tracked and valued into ROI, set up for branding, or a host of other tactics that provide overlooked impressions delivered to friends of fans. With so many factors going into each campaign, companies tend to find it difficult to actually value their investment with non-traditional metrics.
Facebook values reach differently than most media. Impressions, reach, and social reach are all different variables to consider when measuring compared to traditional reach. Determining which variable align with company goals and setting benchmarks can help overcome the overload of data.
3. Value of a “Like”:
The biggest failure in this category is when brands are not active with their fan base. Simply getting a “like” doesn’t get a brand much (similar to those brands I had completely forgotten about on my profile). It’s important to value what content and activities brands engage in with their target audience relative to the audience’s preferences. There can be a lot of value in increasing the depth of engagement and loyalty among fans. Using this base can also generate incremental purchase behavior.
4. Friends of Fans
Leveraging the use of “Page Publishing” is one of the most undervalued uses of Facebook for brands, particularly after a paid campaign to build a fan base. The information posted on the page can be seen by fans, as well as friends of fans—providing a huge mass of potential targets and impressions. If this is done in an engaging manner and updated frequently to ensure that it’s being seen in the newsfeed of a brand’s fan, this can be incredibly beneficial and at no extra cost. The more engaging and interactive the posts, the more viral the activity will be, increasing the reach to friends of the brand’s fans.
5. Data Insights:
Another significantly undervalued aspect of a Facebook campaign that is the level of data brands can leverage to target their market. Using the “Reports Tool,” brands can dive into the data of their ads and target providing insights on a number of levels. They can view the type of fan who is most engaging and who talks about the brand on Facebook— all of which provides the perfect platform for tailored messaging. Taking a look at how certain demographics spend their time, self-express, or their propensity to promotions and deals can be a gold mine for detailed targeting with limited spend.
Overall, it’s important for brands to take a look at their target and how they interact with social media. Developing a strategic plan and dedicating time to the continual process of managing a Facebook account can yield a lot of value for any brand.