Facebook needs no introduction. With a subscriber base of over 2 billion, it has become a favorite fixture of our social lives that is not going away soon. Businesses are slowly waking up to the potential of Facebook after it reported to have made $9.1 Billion from its ad revenues alone in Q2, 2017.
Every true blue marketer is now keen to explore this medium and capture his share of business. Here we lay out the basics of Facebook Marketing and how you can quickly get started with your designs to deploy it as a part of your social marketing strategy.
Who is on Facebook?
Learning about the characteristics of the population that dwells and interacts on Facebook, can provide vital clues about the fitment of this social platform for your business.
Facebook demographics can equip you with key user stats such as age group, time spent on the platform, hobbies & interests, level of education & others. Take a look at these stats for Canada where Facebook is the most popular social media network of all times.
- As of 2016, there were 18.2 million users on FB and it is expected to touch 20 million by 2020
- Facebook has 75% reach among Canadian internet users
- 87% of Facebook users are aged 18-29
- 77% of Facebook users are young females
- On an average, users spend about 40 minutes daily on this platform
- Number of mobile monthly active users is around 1.66 billion globally
This information can go a long way in determining who your core audience is, how to market your product to this current group, anticipate future purchases and make adjustments. No matter which audience you are chasing, there is something for everyone on this platform.
Elements of Facebook Advertising
So now that you have decided to make the most this platform and your marketing budgets, let’s break down the basic components of Facebook marketing.
1. Facebook Groups
It is always exciting to meet up with a prospect but it’s equally fun to meet up with a lot of them who fit the definition of your ideal customer. Facebook group are mini communities where people come together, express opinions and celebrate their enthusiasm towards a shared cause, interest, goal or initiative.
Groups are insightful places to engage with your target market and tune into the hidden aspirations of your customers. When used carefully, groups can prove to be an effective way to drive traffic to your site.
Brands need not drive all the conversations on these forums, they can choose to step in when required or remain silent spectators letting the scene unfold.
Samsung has a long list of groups on Facebook that has been created exclusively by its fans. Imagine the opportunity that this presents Samsung with to lean in, solicit feedback and connect with potential influencers!
Brand agents can act as an authority on these forums by sharing best practices, tips and tricks, that others on the group find beneficial- someone whose opinions are valued and sought after. Posting purely with the intent of selling might backfire and end up eroding the value of your brand.
Facebook Groups are a long route to success, but the one where you will eventually find your converts.
2. Facebook Pages
The last time we checked Facebook there were more than 60 million active business pages. Facebook pages are one of the quickest routes for businesses, artists, brands, celebrities, organizations to create fans and following. These pages can be used to inform your followers about your status, upcoming gigs, invites to shows, hosting contests and more.
Facebook pages can come as a huge revelation to those who underestimate its charm. The capacity to influence that it puts in the hands of brands is immense. Citi, the banking multinational, has one of the most diverse following on Facebook. In the first quarter of 2017, Citi posted only 19 times, with content that revolved around company updates and initiatives. But it fetched the brand 1.4 million likes and 4000 shares.
When it comes to content, Citi’s philosophy of “less is more” has kept its social capital going high. This approach might not stand true for every brand. Hitting the sweet spot by discovering the ideal mix of great content, visuals and reach takes time. But the effort would be worthwhile, once you start receiving real-time feedback from your audience.
For companies on lean budgets, Facebook Pages is a must-stop-at avenue. But after having explored the organic route, businesses might feel the need to peek outside the four walls of their pages and gain new audience. That’s when Facebook adverts come into the picture.
3. Facebook Adverts
Organic routes can fetch only so much result, when trying to launch a new product, introducing new features and service, organizing an event, or driving more leads to your website. Today, brands can cast a wider net at a small premium with Facebook Adverts, its official advertising platform.
This advert provides marketers with the ability to optimize their campaign based on parameters such as marketing objectives, audience, budgets, placement preference and creatives. The drill-down functionality for each of these parameters leaves marketers feeling confident both about their target audience and keeping their campaign budgets under control.
There are number of brands that are reaping the benefits of their paid campaigns on Facebook. Case in point is Coca-cola. In 2016, the company partnered with Facebook to drive its global repositioning campaign in South Africa. The outcome was for everybody to see.
The paid campaign was fizzing with great results when with a mere 3.5% of its budgets, Coca-Cola achieved a 42% increase in individual reach, 96% total campaign reach, 8X increase in brand impact versus TV and other digital video.
Facebook Marketing is gaining traction every day and businesses are keen to be a part of this action. No matter which route you choose to explore, paid or organic, deep down we are all driven by our desire to build a lasting relationship with our audience. And if Facebook marketing brings you closer to your customer and your goals, then it’s definitely worth your time.