Report: Facebook Likes Must Lead Fans To Purchase, Consider, Recommend Brands. The latest attempt to quantify what a Facebook like is worth comes from Forrester Research, which ran case studies on four prominent brands — Best Buy, BlackBerry, Walmart, and Coca-Cola — to determine how likes result in purchases, consideration, or recommendations. Here are some of the findings from Forrester’s report: And here are some conclusions from the Forrester report: Interpret your results in the context of your brand.
Every brand is different. For example, 71 percent of online U.S. adults have purchased a Coca-Cola product in the past year, compared with 6 percent who have bought a BlackBerry. The likelihood of a Facebook fan purchasing from the two brands will vary drastically. But so does the value of the fans for the brand — recommending a BlackBerry has a different value than recommending a can of Coke, and converting a consumer into a lifetime customer has higher value than a one-time buy. Profile and target your Facebook fans. Find out what drives your Facebook fans. Facebook automatically adds Places to Pages « Marketing with Mallory.
Facebook One-Ups Google With A Kind Of ‘Facebook+’: Your FB Email, Timeline Names Are Now Linked Up. Facebook today announced a change for how people can find you on its network — a move for more consistency, but also another route to getting people to use more email in Facebook, and secure its place as the center of your web life. Facebook is now rolling out a service where the name you use in your Facebook Timeline will be the same as the name on your Facebook email account. Facebook Ads Can Now Be Optimized To Drive Any On-Facebook Action, Such As In-App Purchases, Shares, Offer Claims. Marketers don’t actually want clicks, they want the downstream conversions and the return on investment that follow. So today Facebook begins allowing advertisers using its API to ask it to show their ads to people most likely to take any specific post-click action on the social network, such as sharing a brand’s content to the news feed, buying virtual goods in their apps, or redeeming one of the new Facebook Offers at a local brick-and-mortar store.
Previously Facebook’s Ads API and self-serve tool only permitted optimization for clicks, Page Likes, app installs, and check-ins. Data on conversions 1, 7, or 28 days after a click will now appear in the Ads Manager. There’s no official announcement for this but we’ve got more details. For now, the options will only be available via the Ads API, and is currently being tested with several Ads API partners who create tools and services employed by big budget advertisers to efficiently run massive campaigns. U.S. Consumers Receptive to Social Media Appearing on Their TV Screens, According to Accenture Study. Study: Facebook’s Ad Business Booms Before IPO With CPC Up 23%, CPM Up 15%
While Google’s advertising cost per click fell 6% since Q4 2011, Facebook keeps commanding higher prices from advertisers with CPC up 23% in key markets during same period according to a study of the last full quarter before the social network is expected to go public. It seems the shift to mobile where users are harder to monetize hasn’t phased Facebook’s ad rates yet, which could make its stock very appealing come IPO day. Ads tool developer TBG Digital saw the average cost per thousand impressions (CPM) of the ads it runs on Facebook increase 15% over Q4 2011 and a whopping 41% over Q1 2011 in key markets. The contrast between the performance of Facebook and Google’s rates could lead analysts to see Mark Zuckerberg’s company and its highly targeted, friend-infused ads as critical to the future of online marketing.
Looking year over year, some of Facebook’s numbers are even stronger. [Image Credit: Scribbal] DataSift Teams Up With NewsCred For Deep Data Analysis Of Social Media And News Content. DataSift, a data analysis company that provides developers and third parties with access to Twitter, Facebook and other social data sources, is teaming up with NewsCred to allow clients to perform deep data analysis and monitoring of social media and news sources. For background, developers, businesses, media companies and organizations can essentially use DataSift to mine the Twitter firehose of social data, as well as Facebook and other sources. But what makes DataSift special is that it can then filter this social media data for demographic information, online influence and sentiment, either positive or negative. As we’ve reported in the past, DataSift does not limit searches based on keywords and allows companies of any size to define extremely complex filters, including location, gender, sentiment, language, and even influence based on Klout score, to provide quick and very specific insight and analysis.
Facebook's 6-Point Plan for Building Brands in the Social Media Age. The Digital Marketing Series is supported by HubSpot, an inbound marketing software company based in Cambridge, Mass., that makes a full platform of marketing software, including social media management tools. Social media has turned the purchase funnel on its head.
That's the crux of a study that Facebook recently published in conjunction with Forrester Research. The two canvassed 101 C-level and VP-level marketing pros in December 2011 and found the profession has changed. Or, in Facebook and Forrester's parlance, "The connected world has rerouted the customer journey. " How does changing media affect the way people hear about brands? It's easy to see how this reflects a TV-dominated age. Here is what Facebook and Forrester are proposing as the successor to the purchase funnel. In this schematic, social media influences every stage of the process. The new environment calls for new tactics. 1. 2.
Building connections via social media requires that a brand create a hub. 3. 4. 5. 6. Gartner: Social CRM Market Will Reach $1B In Revenue By 2012. There’s more good news for the growth of the social enterprise. Gartner is reporting today that the social customer relationship management (CRM) market is forecast to reach over $1 billion in revenue by year-end 2012, up from approximately $625 million in 2010. Worldwide social CRM is projected to total $820 million in 2011. Gartner says that spending by buyers on social software for marketing, customer service and sales has increased by 40 percent in 2010, but social CRM remained less than 5 percent of the total CRM application market.
And more than 100 vendors have social CRM offerings, but most are not profitable and generate annual revenue of less than $1 million. While the market is clearly competitive, Gartner says that certain factors can help differentiate Social CRM offerings, including interoperation between public social networks and internal collaborative communities, integration with established CRM products, analytics and more. Lab42 Taps Social Networks For Market Research, Raises (Almost) $1M. Lab42, a startup that helps agencies and other businesses conduct market research, says it has raised “just under” $1 million in funding.
President Gauri Sharma pitches Lab42′s services (which involve targeted surveys conducted over social networks) as new way to conduct research. One big difference: It’s faster and cheaper than hiring most market research firms, while also being more reliable than just throwing a survey online. Advertising and marketing agencies make up the company’s primary customer base, and clients include Redbox, David & Goliath, Y&R, and Ogilvy. Lab42 recently added a social login feature, which asks respondents to log in through Facebook Connect before filling out the survey. The company also makes uses its data to create infographics, include some that have supposedly been featured on NPR and Mashable (which is a pretty impressive spread).
Lab42's Surveys Offer Market Research Via Social Networks. Using surveys for market research on Facebook and other social networks has become a popular way to gain consumer insight quickly and efficiently. Chicago-based Lab42 is an online market research startup that uses social networks, such as Facebook and MySpace, to obtain samples for online surveys. Similar to market research companies like Peanut Labs, Lab42 targets users on games and other applications within Facebook, and allows users to take market research surveys in exchange for earning virtual currency.
While there are a number of companies who conduct these surveys, Lab42 is hoping to differentiate itself by offering a cost-effective way for market research firms and ad agencies to survey consumers. Lab42 surveys start at $300, with results guaranteed in 5 business days. Also, Lab42 doesn’t use any sort of preset survey panel or email list, which the startup claims to help provide fresh responses for every survey.
Facebook Leading Social CRM Change: It’s Your City, Town Hall, and Digital Conversation Revolution. Real-Time Conversations Hasten Social CRM. Social Media has evolved beyond a series of platforms that enable content publishing, sharing, and discovery into a genuine, peer-to-peer looking glass into the real world conversations that affect the perception, engagement, and overall direction of the brands we represent. Socialized media didn’t invent “conversations,” it simply organized and amplified them and established an opportunity for learning and collaboration.
Twitter and Twitter Search have ushered in a new genre of not only communications and associated search technology, but also dedicated ecosystems that transform and support how we as consumers share and discover relevant information in real-time. Online discussions, rants, and observations are either alarming (and motivating) brand managers or fooling them into unforeseen enthrallment.
But the reality is that real-time dialogue is fueling connections and perceptions in the statusphere, blogopsphere, online communities, and the social web in general. He’ s right. 1. The Future of Social Customer Relationship Management. Killian Schaffer is VP/Strategy Director, CRM for Cramer-Krasselt/Chicago. You can follow him on Twitter @kschaffs.
Currently there’s a lot of buzz around social customer relationship management (CRM). Social media platforms and technologies like Facebook, Twitter and Foursquare are transforming how companies market their products and engage audiences. But when you’re also concerned about delivering results to your clients, you’ll do well to study the evolution from traditional CRM to sCRM. Like different forms of intelligence – abstract, practical, emotional – customer data reveals different value traits that help to assess each individual. While “transactional” value has been a mainstay for decades, the web and its social media platforms have introduced new “relationship” and “influence” measures. Transactional: Determines a consumer’s monetary value based on purchase recency, frequency and dollar amount.
Some marketers are already combining aspects of the Value Trinity. How to invite all your friends on Facebook to your event in one go | dj plumbo - house music - funkyplumbo.com. UPDATE 2: Still a lot of visitors come to my site, so I decided to update the code to a newer one which works as of November 2011. It’s worth to mention that executing Javascript directly in the URL field is not supported for all browsers. It should work in Google Chrome, there is now even an extension for this feature called Facebook Super Select All. Thanks for the contribution in the comments! UPDATE 1: After this post was originally written, Facebook came up with a solution to create lists of friends. The newly redesigned Facebook has led inviting members to an event/group/page to an even more complex process. Go to your event/group/page, click invite people and then paste this snippet in the URL field of your browser.
Soi! Social Strategy Blog « Radian6 - Social Media Monitoring and Engagement. Shoutlet Fires Off New Trigger-Based Social Marketing Platform. Here’s why social media marketing is broken: my company wants to launch a contest on our Facebook app and website and post about to all our fans and followers, post when we hit 1000 entries, and post again when the contest ends after 5000 entries.
Sequencing like this was difficult because marketing team would have to monitor for those milestones to be reached, then manually rotate our apps and publish updates. Social marketing platform Shoutlet today launches a way to turn the cacophony of disparate campaigns into a concerted push. It’s called Social Switchboard, it uses trigger-based campaign publishing, and your marketing department wants it.
Social Switchboard lets marketers schedule status updates, tweets, YouTube videos, emails, apps and more to be published when a trigger is hit, such as a Facebook Page reaching a certain Like count or a number of contest entries being submitted. I’m not worried for Shoutlet anymore. [Image Credit: redcmarketing] All Facebook - The Unofficial Facebook Blog - Facebook News, Facebook Marketing, Facebook Business, and More!