Going Social: All about Facebook

Up next in our Going Social blog series, our intern Logan has analyzed Facebook, a behemoth among social channels. Here’s Logan:

Facebook recently celebrated a huge milestone with 2 billion monthly active users, making it, by far, the largest and most active social media platform. What started as a way for university students to share personal updates has become a global force and a go-to communication conduit for many users around the globe. I’ll be taking a look at the pros and cons of leveraging this platform for business.

Pros:

Getting started is easy: Create a business page, invite people to like your business, and connect with your target audience. The user interface is simple to navigate and personalize.

Find your potential customers or clients with a laser. Never before have people shared so much of their personal info and preferences; if you are looking to connect your business with parents in Vancouver who are interested in organic farming – you can. Facebook-savvy brands know that connecting with potential brand advocates has never been easier.

From global powerhouse brands to localized, niche brands, no matter who your target markets are, you’ll find them using Facebook: 67% of Generation Z (1996-2010), and 41% of Millennials (1977-1995) use Facebook every day, while “Gen X” (1965-1976) users spend an average of 7 hours on Facebook per week and 84% of Baby Boomers (1946-1964) on social media prefer Facebook.

Facebook offers detailed analytics through their native Insights. This handy tool helps you track and follow your page statistics including the number of people who have engaged with your posts and the rate at which you are gaining followers. Armed with this data, business owners can feel more comfortable making next-step business decisions.

Cons:

It can be difficult to cut through the noise to reach your target market; organic reach has been on the decline since 2014. To reach users, brands must boost their content, which can be difficult for businesses on a shoestring. Making room in the marketing budget for this is crucial for those who are looking to grow and connect here.

Successful Facebook Pages require more than just a monetary investment – whether you’re creating posts, interacting with your community, deleting spam, or responding to a customer service query – building a constant flow of fresh content and making sure that there are moderators’ eyes on the page at all times requires a high level of commitment.

“Fake news” is everywhere, but it is especially prevalent on Facebook. CEO, Mark Zuckerberg wrote this update to describe how Facebook plans to counteract the issue. For now, businesses should ensure their ads are linked to high-quality landing pages with nothing that could be considered misleading or spammy.

In spite of these issues, some brands are knocking it out of the park. Starbucks knows what their customers want. The coffee giant uses their page to share rich visual content, run contests for seasonal products, and interact with their followers. But, it doesn’t take an enormous social budget to be successful on Facebook. Look at Burt’s Bees, a natural personal care company. Their feed is full of stories and experiences with audience-generated conversations happening throughout.


What’s next for Facebook?

Facebook has been adding features which mimic those from competitors like Snapchat. Facebook Stories launched in April 2017 and while it hasn’t been adopted by the masses, like Instagram and Snapchat Stories, as a product it pushes forward the trend of in-the-moment brand updates. Facebook is continuing to improve its Live video offering; it is estimated that Facebook Live videos are watched 3x longer than pre-produced videos. Mr. Zuckerberg has also increased his investment in Augmented Reality with the introduction of Facebook’s new Camera Effects platform. Facebook Messenger is turning into a very useful tool for businesses with Messenger Bots, where consumers can chat with companies through customer service bots to ask a variety of different questions. Finally, Facebook is also beginning to introduce ads within its Messenger platform.

Every brand needs a business profile on Facebook, however, the level of activity and buy-in is still a personal business decision. How much time, effort, and budget will your business set aside to be successful?


Posted Jul 20, 2017 Category: