Money certainly speaks louder than words when you get down to the brass tacks of the situation. It is in this way that Facebook, the world's biggest social media network, can pretty much say whatever they please after raking in around 1.6 billion dollars, doubling their revenue in the first half of 2011. Now that is action. As a private company, Facebook does not publically announce its IPO but EMarketer predicts Facebook will hit $4.05 billion in global revenues for 2011.
Looking at the economy in terms of Facebook being a major player affects technology, society, industry, market, politics and your business. Bizarrely enough, some social media experts are expecting Facebook's downfall any minute now. It's a fairly weak argument against the enormous revenue the social network generates as well as the evolutionary actions they are constantly implementing to stay ahead of the game. Look at their recent, undeniably successful collaborations with Spotify and Skype; Facebook is certainly on the up and up and an example to your brand of what to do.
Want marketing success? Just add Facebook!
Well, it's not entirely that simple but almost. Great Facebook marketing is in itself a fine and complex art that is always changing and evolving along with the audience. What the numbers and what the media are really saying is that Facebook is without a doubt the primary medium for sharing information between brand and client.
Do as Facebook does!
The reason behind the success of Facebook is because they have been paying attention to their audience over the last few years and delivering on demands. You as a brand ought to take heed and use both Facebook and learn from them in how they interact with their client. Many of the same areas that Facebook has to treat as areas of concern and focus are the same for your brand when it comes to marketing.
Your client wants to receive your information whenever they want and wherever they are. Therefore you have to take into account technology, usability, client behaviour and what medium to zone in on in order to make the most accurate ROI for your efforts. Making use of Facebook as your medium of choice exposes you to the most vast and most accessed social network in the world. Despite the many competitive efforts of other social networks, Facebook has managed to keep its smooth, seamless interface on par with the global audience's preferred medium of sharing information.
Diversify, Evolve yet remember the Individual!
Facebook as a company has had its finger on the pulse for the last six months and undoubtedly the beat will go on and into 2012. Facebook manages to apply the ultimate marketing strategy for your business and here is how:
Open up the borders and allow your brand to be accessible and open to as many of the most relevant target market possible. Facebook allows you to do this through Facebook Ads which segments and sorts your ideal target market in terms of interests, details and demographics. It also provides you with an analytics page so you can monitor your efforts and their affects on your audience. This will give you the most insightful way to learn where your brand generates the most ROI, what works for you and what does not.
This is incredibly important in any industry today and especially in one that promotes themselves using social media. Marketing customised information to the individual, paying attention to feedback and responding are what will make your information online relevant to the individual and thus to your mass audience if everyone is treated as unique. This can be done through Facebook via their very social concept and interactive facilities of updating and commenting using words, pictures, videos and music. Respect your client's identity by portraying your brand to them in a way that indicates the building of a relationship that needs to be nurtured.