Here is the link to the article of that graph I showed you in class--might give you some more background info.
This is the description that came under the graph:
Kantar Media Compete measured the effectiveness of Facebook posts in automotive, travel, tech and retail as defined by whether the user clicks on an ad, visits a brand page, or seeks out more content about the brand.
So, what do you think? Can FB build brands or should it be another tool in the digital toolkit?
It will be interesting to see what happens moving forward, from my take Google is really the only ad venue that gets any results. And Facebook is stuck with a not so great group of also rans. Only time will tell if someone can monetize the use of Facebook for effective advertising campaigns.
ReplyDeleteI think FB has the platform to reach potential customers. But how firms can increase their sales by advertising on FB is a different story. I think it is easy for some business to build awareness and increase sales than others on FB. But overall, it is still need a better tool to reach your target customers and make them interested in your ads.
ReplyDeleteThis is an interesting article and gives a balanced view of advertisers and marketers challenges and opportunities with Facebook.
ReplyDeleteThis quote from the article struck a chord with me:
"Erich Marx, said the company [GM] does some paid media around new car launches, but said the "vast majority" of spending goes into Facebook content, not advertising. "
Based on recent campaigns at work, I think that spending money on generating valuable content is a good way to increase branding/awareness. Using content marketing to add value to your target audience can lead to them seeing you as a thought leader and when they do need your product or service, you may be "top of mind" as the saying goes.
We like to think of our free e-books as a way to fill the top of the sales funnel with awareness which leads to engagement, which leads to a lead generated and then an opportunity and a close won sale.
Perhaps there is no immediate return on investment for the advertising dollars spent on FB or brands can not measure the effectiveness of using FB in tangible and quantitative terms; however it is important to recognize that a brand needs to have a FB presence as a social connection with consumers, future customers and the online community.
ReplyDeleteI have noticed that advertising on facebook does bring brand awareness, but hasn't equated to an increase in sales, for us at least. People are much more likely to "follow" or "like" you, than they are to actually purchase something from you...in my opinion. I wonder how long it will take for something new to come along and take over facebook with more of a advertising focus.
ReplyDeleteI just do not understand why anyone would advertise on Facebook. I agree with GM in maintaining fan pages for their cars and or products. The fan pages utilize the “word of mouth” campaign that most business seek.
ReplyDeleteFacebook is stupid. I agree with this and another of your posts that we could be seeing the begin of the end for FB.
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