Using Facebook to Grow Your Business

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Before we begin . . .I am a firm believer in principles—out of the chute,

you should know there is no “silver bullet”

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Social media is just one tool in the toolbox

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We all havea circle ofinfluence. People areinfluenced by those they trust

Circle of Influence

Circle of Concern What youcare about.

What you cando something

about.

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People do not want to be sold to—they want tointeract and be heard

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You cannot control the conversation, but you can participatein it

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Although social media is “one-to-many” broadcast marketing, at the end of the day real results will occur when “one-to-one” relationships are formed

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The 4 P’s of marketing (product, price, place, promotion) still exist, but the 3 R’s (relevant, real, responsive) are rising quickly in a web 2.0 world, and will result in a 4th R—relationship

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http://www.youtube.com/watch?v=ypmfs3z8esI

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Side-by-side comparison

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Side-by-side comparison—Twitter detail

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Side-by-side comparison—MySpace detail

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Side-by-side comparison—Facebook detail

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Demographics of Facebook users

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Females 18-25 led Facebook’s demographic categories this month, adding over 700,000 monthly active users to over 12.8 million. In addition, women over 45 showed strong growth, while increases in males over 35 were lower. However, on the whole, we see that Facebook is still growing most quickly percentage-wise amongst users over 45 – an interesting demographic trend that started earlier this year

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11 Business Benefits of Using Facebook Applications

Compliments to marketing-jive.com

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1. Branding

Facebook can be a great resource for generating brand awareness. It can help build relationships with your prospects and clients.

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2. Customer Engagement

Using Facebook applications can be a great way for communicating promotions, contests, and events.

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3. Drive Web Traffic

Facebook can act as a portal point for driving traffic to your site and other online properties.

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A breakdown of the popularity of Facebook applications

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4. Reputation Management

Facebook can be a useful tool for listening and responding to what users are saying about you and your brand.

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5. New Customer Acquisition

Facebook provides an opportunity to find consumers you may have not otherwise discovered (based solely on their interests and affinity alignments).

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6. Advertising

You can drill down and advertise just to the target audience that has the demographic footprint you desire.

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7. Client Retention

Facebook provides another communication point to build a strong relationship with your consumer.

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8. Access to the social world and its inherent value (the "in" factor)

Consider the following scenario: a potential prospect could be doing research on your brand or organization and may use Facebook to see if you have a presence there. Then they see that you have a Facebook profile and see a number of positive posts about your brand. This in turn can shape their opinion and could end up being one of many deciding factors as to why the prospect selects you over a competitor. The perception that Facebook is "in" and the fact that you are using Facebook could help influence the perception of your brand.

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9. The Viral Effect

Nothing attracts a crowd like a crowd.

And Facebook is attracting quite the crowd . . .

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10. Feedback Mechanism

Using Facebook and the various applications available can help you understand consumer behavior based on the sharing of content and commentary on the social networking site.

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11. Build Business Use Cases

Facebook can provide you with an opportunity to build successful business cases as you target specific vertical markets with specific business objectives.

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According to a study released in January 2009 by Rosetta, an interactive marketing agency, 59 of the 100 top retailers have a Facebook presence.

“Social media sites continue to be an important source of community connection, and savvy retailers are reaping the benefits of Facebook’s rapid extension into new demographics, such as Gen X and seniors,” said Adam Cohen, partner with Rosetta’s consumer goods and retail practice.

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Mr. Cohen said that retailers should guard against casual attitudes toward their Facebook presences.

“It’s important that retailers don’t just slap up a page because everyone is talking about Facebook. An effective presence requires that you carefully consider what your customers are looking for, what you would like to communicate, and what role a fan page should play in your overall online strategy.”

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General Tips The most effective Facebook fan pages are updated on a regular basis with new content.

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General Tips If there's actually evidence that the page administrator is visiting regularly and interacting with the community, the more engaged fans will be (check out the wall on Dell's page).

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General Tips Facebook pages work best when their less about "me, me, me" and more about "you, you, you" (customer-centric).

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General Tips Be a good member of the community: promote others even more than you promote yourself. Linking and promoting others is a nice way to show you care about others and can set you apart as an “expert” in the field.

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General Tips The creative material of your message should be something that people want to share virally with others. Make it newsworthy, controversial, timely, immediately useful, or even humorous.

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General Tips Don't spam—wrap your self-promotion in something of value to others.

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Tostitos on Facebook: Case Study

0 to 17,000+ fans in one month

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The concept was simple. Get the most rabid, dyed-in-the-wool fans to compete against each other for the chance to win a $100,000 scholarship for their school.

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Tactic:Create a Facebook application that collected fans’ info, a short paragraph about why they should be selected, and a photo showing their school spirit.

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Two teams were selected a few weeks later, and they began a cross-country challenge that started in NYC and ended at the Tostito’s Fiesta Bowl on game day. Throughout the challenge, they were filmed and wrote updates about their experience on the Facebook fan page.

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Results:

17,779 people became fans of the Facebook page

56,531 page views

39,477 unique visitors

597 wall posts

1098 entries with photos for the contest

1925 entries to the contest were shared with a friends

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Success Tip #1

Give users value

Aside from the $100k scholarship (which is admittedly a clear value), Tostitos had high entertainment value. People flocked to the site.

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Success Tip #2

Invite (and unite) a community

Facebook was a natural fit for this promotion. The first big spike on the fans chart above happened after the schools were announced. When the page first launched, Tostitos had to cast a somewhat wide net with their ad placement. After it was announced on December 7 that Ohio State and University of Texas were the two competing schools, Tostitos refined their ad target down to just current and alums of those schools.

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Success Tip #3

(New) content is king!

The next big spike in traffic can be brought attributed to status updates. Once the race began, the page lit up with new content on a very frequent basis. This created news feed items and gave fans a reason to come back to the page. Graphics and content were updated often.

Engagement. Engagement. Engagement. There is no substitute.

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Adobe’s “Real or Fake” campaign included a game on the company’s page, where users guessed whether an image was real or manipulated in Photoshop.

Adobe describes its results: “About 10% of our page visitors played the game and, of those who played, 6% clicked the “Share” button at the end of the game, and 6% clicked “Buy Now” at the end of the game. Due to this game and media placement, our page received over 6,000 new fans too.”

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Using a "widget" to promote your business

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Widgets Widgets are like portable websites that operate with the same functionality as the host site but can be embedded into a blog, webpage, or other internet property.

This is an optimal tool for lead generation that can attract clients from diverse demographics.

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What does a widget look like and how does it function?

Big Brothers Big Sisters of Utah

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United Way

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National Multiple Sclerosis Society

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Rhodes Rolls

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Widgets are viral!

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Using Facebook to Grow Your Business