What value does your company get from your Facebook presence?
It’s not sales. Rarely does anyone exceed 1% of sales through their entire social presence. Facebook isn’t consistently the biggest producer of those small dollars despite its size. And the elephant of social media sites continues to lower the value of a fan to almost nothing by minimizing your organic exposure. We’ve been busting our tail for years to gather fans or followers or likes believing that they would ultimately turn into sales – like email addresses do. Unfortunately, it’s just not working that way.
When someone is on Facebook, they aren’t shopping. Let me say that again. *When someone is on a Facebook, they aren’t shopping*. They are pretending to be important to impress their friends from high school. Oh, and playing mind-numbing games.
I actually see a divide coming in terms of how marketers, particularly ecommerce marketers, approach social media. Paid Facebook advertising is becoming more like targeted branding. It’s very tough to measure the value accurately. And it’s very hard to get a positive ROI on these ads (unless you inflate the value of engagement or a “like”). On top of that, you may be getting fake or foreign “engagement” on your targeted US Facebook banner ads. https://www.youtube.com/watch?v=oVfHeWTKjag
The non-paid piece of our social media work is essentially disappearing from feeds. Your presence really only matters when a customer decides to seek you out on Facebook. And customers are typically only doing that for one reason: they are pissed.
Facebook is becoming more of a customer service or support tool where you try to save customers who had a bad experience. Getting this correct is a key part of utilizing Facebook well. Yes, there are still a handful of fervent missionary customers who like every post you stick up there and comment on a handful. So we’ll always have to post content on a regular basis (seems like most are just pulling email and blog content into Facebook), but I think it’s wrong to think of your Facebook presence as a strategic opportunity. Or a growth play. Facebook is a required customer service tool that you can choose to advertise on or not.
Other social media sites, like Pinterest for example, are different and may work long term as a top-of-the-funnel advertising presence that actually drives new customers to you. Facebook will not.