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Is there still value in Facebook? Given the challenges to marketing on Facebook, is it still a valuable business marketing tool? Social Media FAQ
Feb 02 2015
Many businesses wonder if Facebook is still a valuable marketing tool, given the challenges that businesses face when marketing on Facebook. This is one of the most common questions asked about social media: Should my business be on Facebook?
Here is the thing. It is like going online and asking “Should I be on a diet?” or “What type of dog would be best for me?”
The answer is: It depends.
It depends on the type of business that you are in.
It depends on your strategy.
It depends on your resources.
It depends on what you want to achieve.
It depends on your goals and objectives.
It depends on your customers.
It depends on your category or industry.
It depends on whether or not your customers what to connect with you on Facebook.
So, it is a complicated question without a “one-size-fits-all” answer.
That being said, here are some things that you should know about marketing your business on Facebook.
The Challenge of Facebook Marketing:
The challenge that businesses have with marketing on Facebook is that Facebook has reduced organic reach over time. What this means is that initially, most of your “fans” or people who have liked your page would have seen your posts. Now less than 10% of the people who like your page will see your posts (and maybe less than 1%).
If you are a business on Facebook you aren’t competing against other businesses on Facebook, you are competing against everything I care about and fighting for my attention. Coke isn’t competing against Pepsi for my attention – they are competing against my friends kids, news articles and funny YouTube videos.
Because of the lack of visibility of business pages on Facebook, many businesses are questioning the viability of using Facebook for marketing.
The reality is that there is still value in marketing your business on Facebook. Facebook generates value by gaining exposure for your business, and we know that being exposed to a brand (or just seeing it) increases the probability that you will do business with it.
Seeing something helps to Know, Like and Trust, it, which increases the chances that you’ll do business with the person or product.
The bottom line is that Facebook is the biggest and most used social network out there. If you want to grow your visibility and your brand, Facebook isn’t a bad choice…
The expectation that social media marketing is “free” is not sustainable in the long-term. Just because something isn’t free doesn’t mean that there is no value. Arguably by charging people the network has to prove its value more.
Facebook ads are extremely targeted and cost efficient. Spending a bit of money to reach your target audience shouldn’t be a deal breaker.
Evaluate whether or not Facebook is right for you.
The bottom line is that you need to evaluate whether or not Facebook is right for you and your business. I wouldn’t write it off, but you do need to evaluate how much time/effort/money you put in and what you get out.
Assess your business goals and strategies, your content plan, your target audience, the amount of time/effort you have and your other available options to determine where Facebook should for into your broader strategy.
If you don’t understand Facebook, get some Facebook Training you improve your knowledge. Using best practices for Facebook can always help to get more bang for your buck.
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