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Facebook is the largest social networking website available on the internet. It has over five hundred million users. This means if Facebook was considered to be a country, it would be the third largest on the basis of population. Since so many people are available on this website, it is an online haven for marketers. Facebook marketing can give your brand instant recognition. There are loads of entrepreneurs and businesses getting on the Facebook marketing train.
Here are two important facts to consider as you decide if the Facebook phenomenon is right for you, the first and the most obvious question you should ask is:
How can Facebook marketing help in improving the bottom line?
As mentioned earlier, the number of people using Facebook is humongous. Facebook is translated in over one hundred different languages. With user numbers over five hundred million, approximately every third person in the world is using Facebook. A recent study shows that more than half of the people who buy online have a Facebook profile. The rate of Facebook users is rapidly increasing across countries. These numbers are astounding. Someone with a superb idea or a niche market to cater to but does not has the funding compared to a multinational corporation may think they have no advertising options. What does he or she do? Facebook marketing can be the answer.
Have the right strategy to turn strangers into friends who in turn become supporters and finally clients.
There are numerous examples of people who chose not to follow the traditional methods of marketing and have used Facebook marketing to promote their products. Facebook users can post links for their friends directing them to websites they frequent and enjoy. This will also help in improving the traffic to the website resulting in better ranking within the search engines due to increased traffic. On an average every person having a Facebook profile has 120 friends. This means that even if one person posts good things about you there will be 120 people reading about it. The reach you will have will be magnificent. This marketing tool is much more cost effective when compared to other traditional methods of marketing. It can especially work wonders for those who are starting a new business and do not have a lot of money to make big bang advertisements on television and other media.
It is a golden opportunity for new and old businesses alike. Who knows? You might become the next big thing in the market using Facebook marketing.
The first principle emphasized by various marketing gurus is to keep track of major changes in the marketplace. The changes may relate to customers, suppliers and also the ways and means to reach customers. All the marketers are looking for strategies and tools by which they can show potential clients that their product is better than their competitor. This all needs to be done in a cost effective manner. The main goal is to economically reach as many people as possible in the shortest span of time. This is especially true in case of start up business ventures. Through Facebook marketing, entrepreneurs can form a niche market of their own. Facebook is a place where you can connect with your friends and make new ones from every part of the world. People can also share their thoughts, photos and links among their friends and create an “entity” and “personality” for their business.
Since the number of people using Facebook is increasing with each passing day, marketers are taking notice and using the network to advertise their products. Creating a profile on Facebook is similar to creating an email account. You provide some basic information about you and then select a username and a password. After this your account will be created instantly and you can begin connecting with friends and building your network. The ‘wow’ factor will also come in and the people seeing the advertisements will be pushed to visit the pages where the advertisement originates. Some of the benefits related to Facebook marketing through advertisement are:
- An advertisement on Facebook can be created using social ads. You can put in both graphics and text for attracting more and more people. It is also possible to advertise an entire web page using this platform.
- It is very easy to identify and target your niche market using Facebook marketing. It offers great demographic features at affordable rates, a marketers dream. It is possible for you to target customers based on their gender, location, education, age and other patterns.
- It is possible to optimize the advertisements you place on Facebook so as to obtain the maximum benefits from them. It allows you to keep a record of the customers visiting your page. This allows you to track your customers and fine tune your advertisement strategy.
People who are looking to develop or increase their online presence and exposure should not miss the golden opportunity of Facebook marketing. It will take them to heights that they can only dream of.
An astounding number of people, over 200 million, are present on the social networking website, Facebook. Marketers worldwide are looking at those numbers and seeing it as a great place to advertise. Facebook marketing can make you and your business an overnight star.
Registering on this website is very easy; just enter a user name, a password, a few security details and the account is created instantaneously. Now you can take your marketing plans and launch your advertisement campaign.
Here are some of the finer points of Facebook marketing:
- Strong Presence: Once you have created the account to represent your business, the next step is to start providing some good content for the readers, otherwise known as, your facebook friends and fans. Create a large community and involve your employees by having them sign in and discuss products of the company. This will help the company in attracting more and more people from various places. It is also possible to advertise a full web page through Facebook. This will help you increase the number of online followers you have. Since the pages on Facebook can be indexed, it is important that your content is search engine optimized to bring you the most exposure.
- Advertise: You can place your advertisements in front of a particular type of audience, ensuring the content is brought to the target market you are aiming for. Facebook allows you to use its resources so that you can identify your niche market. For example, a company dealing in women related products can collect data about women belonging to certain demographics of a certain age.
The two choices a person has in Facebook marketing are display ads and social ads. It is possible to purchase these ads like banners with CPM or CPC. It is possible to use these banners online but most of the users like to stay within their Facebook environment. A better strategy would be to direct them to your fan page. Since tabs have their own URLs, the Facebook fan pages are designed in such a way that it is possible to send visitors directly to a tab on the fan page.
The best part about Facebook marketing is that it can be highly targeted and is less expensive compared to traditional methods of marketing. Because the company leaves all the editorial decisions to individual editors, it is important that you read all the terms and conditions mentioned on the website. It may also benefit you to purchase a guide that gives detailed explanation on how the Facebook system works so you can maximize all the potential it offers.
Flikr and Facebook Join Forces: As part of the happenings on Facebook pages, members are encouraged to share photographs that add to the status updates and stories they are sharing about their personal and professional worlds. By teaming up with Flikr, it is now easier than ever to include your images to your Facebook postings. Flikr users can now sync their Flikr accounts with their Facebook account so that every time a picture is publically posted on Flikr, it automatically updates on their Facebook news stream.
Foursquare Sale Rumors: Facebook, among others, is in talks with location-based gaming company Foursquare about a potential investment or partnership. Foursquare is a web and mobile application that allows registered users to connect with friends and update their location. Users can choose to have their Twitter and/or their Facebook accounts updated when they check in. Foursquare started out in 2009 with limited availability in only 100 worldwide metro areas. As of March 2010, the service had 500,000 users internationally and their numbers are growing daily.
Facebook Most Popular Social Network in UK: Hitwise recently reported about 55% of UK social network traffic goes to Facebook. Given all the social networking options available to users today, over half the social network market is not a number to ignore.
Facebook Fan Value: A few different reports have found that Facebook fans are valuable to brands, monetarily speaking. eMarketer used comScore numbers to report that Facebook users spent more money than other Internet users. Syncapse Corp., which works with other companies on their social media strategies, also released a study that found Facebook fans spend an average of $71.84 more than non-fans over a period of two years. Additionally: Fans are 28% likelier to keep using a brand than non-fans; 68% of fans are “very likely” to recommend a product in contrast to 28% of non-fans; 81% of fans versus 39% of non-fans feel connected to a brand; and the average value of a fan is $136.38.
Americans Aged 50-Plus Prefer Facebook: The AARP, a non-profit organization concerned with quality of life issues for people aged 50 and over, reported that its members prefer Facebook over other social networks. A survey found that about 27% of U.S. residents aged 50 and above use social networks. About 23% of these reported a preference for Facebook, while MySpace, LinkedIn and Twitter came in with about 4% each.
These are just a few of the many up to date reports of the ever growing, ever accommodating offerings available to facebook users. What steps are you taking to be a part of this growing phenomenon?
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Major brand name players are quickly realizing that online consumers are doing their homework and being smart with their finances. Because of the growing trend of educated, mature shoppers online, retailers realize the need to accommodate the smart client base and are taking steps to show their appreciation to loyal fans and consumers.
Research from comScore shows that visitors to Facebook and Twitter spend more money on the Web than Internet users. On average, Web users purchased less than $50 worth of goods online in the first quarter of 2010. On Facebook, the visitors who spent the most time on the site also spend the most dollars on online shopping, with an average of $67 in spending for the top 20% of visitors.
More than ninety percent of Retailers are planning a Facebook presence by the end of 2010. And some, such as Levi’s, have adopted Facebook’s new “like” button on individual item pages to help socialize shopping even further.
With older users driving much of the growth in social network usage in the past year, the sites are no longer home to teenagers and young adults with lower disposable incomes. Instead, users tend to be savvy and frequent users of the Web overall, making them more likely to be online buyers as well.
The demographics of online shoppers and consumers are not the same demographics from five years ago. Generation X (internet users ages 33-44) continues to lead in online shopping. Fully 80% of Generation X internet users buy products online, compared with 71% of internet users ages 18-32. Interest in online shopping is significantly lower among the youngest and oldest groups; 38% of online teens buy products online, as do 56% of internet users ages 64-72 and 47% of internet users age 73 and older.
Knowing where your business dollars come from and how to reach that market is a large part of the battle for a successful business. Utilizing the Social Networking opportunities properly is a great weapon for winning that battle.
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You will find that advertising on Facebook is unlike any other advertising experience you have ever had. Mainly due to the unique ways in which you can precisely target a specific ad down to the person’s profile. For example if you want to target MBA graduates that are 3-5 years out of school and working in Southern Connecticut that like Classic Rock music whose favorite food is Sushi …. You can do that!
There are 2 basic types of ads: Display ads and Social ads. And they can be purchased like banner ads with Cost per Click (CPC) and Cost per Thousand (CPM). And they work similar to online banner ads but try not to use them in the same way. Most Facebook users feel more comfortable staying within the Facebook environment. So try to direct them to someplace on your Facebook Fan page. With the new Facebook Fan page design, you can send them directly to a tab of your Fan page since each tab has a unique URL.
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