Facebook isn’t just for college students anymore. It has now become a valuable marketing tool for businesses as well. Facebook “Fan Pages” have drawn in big businesses from Microsoft to Wal-Mart to McDonalds (who has 2,448,565 fans and counting). Facebook is a critical tool in today’s market that allows you to build your brand’s presence in the consumer mind.
If you prefer direct marketing, you can simply buy Facebook Ads to reach your target audience. But, if you want to reach an even bigger audience, setting up a Fan page is your best bet. Advertise your Fan page on your website, blog, company newsletter, and other relevant areas to get the word out.
Ways to use Facebook Fan Pages to promote your business:
- Discounts, package deals, and exclusive offers: What is a Fan page without the coupons? Keep them up-to-date and link them to your website if necessary. Exclusive offers for Facebook fans only are a way to measure your return on investment via Facebook.
- Post lots of pictures of your products, in-store and website events, community involvement, and customer-submissions in your Photos gallery: This boosts interest, builds goodwill, and lets consumers know what kind of company you are.
- Link YouTube Videos to your page: If you have some interesting videos that show how amazing your company is or the new things you are doing let the customer see it!
- Use Polls and Surveys: Ask about new, existing, or future products you may carry to see what users like… and don’t like.
- Make the page fun and interactive: A colorful and fun design and atmosphere will attract people to your page.
- Don’t ignore negative feedback: This is your opportunity to appease and retain disgruntled customers. Word-of-mouth can be a big downer on sales so make an effort to reach out unhappy customers.
Facebook Demographics
IStrategyLabs has been tracking the growth of Facebook since 2007. Their Facebook Demographics and Statistics Study (http://www.istrategylabs.com/2010/01/facebook-demographics-and-statistics-report-2010-145-growth-in-1-year/) shows that the 35+ demographic now represents more than 30% of the entire user base. AND… The 55+ audience grew an astounding 922.7% in 2009! So, there is a huge opportunity for businesses to take advantage of this group as well as those college kids. Don’t think for a second that Facebook users have no buying power!
A Facebook Fans’ Return-on-Investment
Some Interesting Facts from the Syncapse Corporation’s Study on “the Value of a Facebook Fan“:
This study says average value of a Facebook Fan is $136.38 based on the five following variables:
- Product spending — Facebook fans spend, on average, $71.84 more than non-fans over a two-year period. McDonald’s saw the largest variability with Fans reporting spending $159.79 more per year than non-fans. Oreo saw the lowest value with a difference of $28.52.
- Loyalty — Facebook fans are 28% more likely to continue using a brand than consumers who are not fans on Facebook.
- Propensity to recommend — 68% of fans are “very likely” to recommend a product to family and friends (as opposed to 28% of non-fans).
- Brand affinity — 81% of fans feel a connection to the brand (versus only 39% of non-fans).
- Earned Media Value — The large reach and frequency of contact that Facebook provides.
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