We’ve all used Facebook at least once in our lives, some people are glued to it, and others can live perfectly without it. By now you’ve probably seen at least 100 different companies you’ve interacted with at least once with on Facebook; but can Facebook actually generate a ROI for your company or product?
For those of you who watch Shark Tank you may or may not have seen the Boobie Pack segment that aired on February 13th. Boobie Pack grew their business by attracting a following online. The women’s clothing company credited their early success started with the majority of online sales, part of that was due to the creator’s 11,000 and growing followers on social channels. While pitching to the sharks, Mark Cuban questioned the sustainability of a social following leading to major growth saying, “Facebook doesn’t have a whole lot of return these days.”
This begs the question; does Facebook generate a ROI for your company or product? I slightly agree with Mark Cuban, Facebook does not generate a whole lot of return but it can be a useful tool when building a brand. Social Media isn’t hard to figure out if you’re using it the correct way. So what do you need understand about using Facebook as a tool for your business?
- Facebook is NOT a list building tool
- Facebook is NOT intended to grow your bottom line
- Facebook IS for building your brand through social recognition
Facebook is NOT a List Building Tool
If you thought it would be a great idea to create a Facebook for your business because it could help generate a list of leads you’re wrong. There is no way to get the information of potential targets that you would need to build a list of leads. Facebook does not allow you to collect personal information like phone, e-mail, etc. You can collect certain information about the posts you make such as: age group of your audience, percentage of male and female, top locations your audience comes from but nothing that can prove them to be a qualified lead for your list.
Facebook is NOT Intended to Grow Your Bottom Line
While you can create a Call-to-Action or create an offer for your audience, just like anything else there is no guarantee that it will prove useful. Facebook makes it easier for you to create an advertisement at a lower price, however the less you pay the less it gets seen. In order to properly affect your bottom line you need to launch a full marketing campaign, using social media as a tool not the sole vehicle.
Facebook IS for Building Your Brand Through Social Recognition
What we see on Facebook and other social media sites is the content the organization wants us to see. A lot of organizations will use Facebook to gather insights on a large audience at little to no cost. The thing about Facebook in general is that different audiences are using it at different times, meaning that you need to have content for each one of those audiences at or around the time they view it. A general rule of thumb for Facebook Branding is to post at least 2 to 3 times per day to continue to capture the interest of your audience. Posting anything less than that and you are bound to lose that audience within a week. Because users have the ability to see content all the time they expect to have content all the time, and if you want your brand to be seen you should follow those guidelines.
Facebook doesn’t generate a ROI for most, but there are a few exceptions to the rule of using Facebook as a strategy, Booby Pack happened to be one of those exceptions. Facebook is a wonderful tool to aid in the brand building process because of the ability to catch a viral wave and ride it out to success.
Do you agree with my opinion about Facebook? If you do, send me your insights or if you don’t let me know your thoughts, I’d love to hear them.