Chances are you’ve been on Facebook for years as a “profile.” You keep track of your kids, friends, kids’ friends, and you get it. Facebook is awesome for connecting. Then you try it for your business and things don’t go so smoothly.
Maybe you have only 50 fans and you’ve been beating your head on a wall to figure out what it is you’re doing wrong, if anything. Pages can be the bane to your existence, but it doesn’t have to be. Many things can be implemented when starting your Facebook business page or if your page had been in a lag. The first thing you need: A plan.
B2B marketers using Facebook’s custom audiences to match their email lists to Facebook often report a 20 to 30 percent average match rate. B2C companies typically report 70 to 80 percent, which says most of their audience is targetable on Facebook.
Users typically don’t associate their work email with their Facebook account, so a 20 to 30 percent match rate is normal for B2B.
Kinvey, a mobile back-end cloud service, gave us a peek into their match rates.
Once you leave high school, it’s believed that the popularity contest is over, right? It no longer matters what brand of jeans you wear, if you’re a jock or a nerd or what kind of car you drive. Well, it matters again, especially if you’re trying to build your brand on Facebook.
Facebook is a tricky nut to crack, especially with all the talk of algorithms and things that, on a basic level, you probably don’t really understand. If you post something on your Facebook page, your fans should be able to see it and then “like” it. Unfortunately, Facebook is a little more complicated than that, but they’re working on it.
Earlier this year, investment goliath Goldman Sachs announced a job opportunity for a social media strategist. While the B2B banking and securities firm acknowledged the risks of becoming active on social media, it also recognized that remaining silent was doing more harm than good. People were still talking about Goldman Sachs online even if the company wasn’t. In turn, the company knew it needed to take a proactive approach to social media and begin managing those online conversations. In order to do this effectively, it needed to make the investment to hire a full-time social media strategist.
Like any business operation, in order for your B2B Facebook page to be successful you need to learn from Goldman Sachs and make the proper investments in the page.
We know that competition is fierce. We know internal resources are still strained. We know that you are continuously working on staying connected with your clients or customers while trying to gain new ones. But there is a ripe opportunity staring you in the face that, if used correctly, will help you get ahead of your competitors while making a mark with your clients and customers. What is it? Facebook.
It’s time for B2B companies to start taking this communication vehicle seriously and here’s why:
Facebook reported its best fiscal quarter to date, as the second quarter financial report showed that the company pulled in $1.813 billion in revenue with a net gain of $333 million.
Facebook saw revenue gains across the globe, as each major sector (US/Canada, Europe, Asia, rest of world) saw gains when compared to the first quarter 2013 and the second quarter 2012.
More business-to-business companies are utilizing Facebook for success, but the people at the heads of these companies still see Facebook as more of a personal space instead of somewhere for commerce.
According to a recent study by Forrester (organized visually by MarketingCharts.com), 42 percent of North American and European B2B decision-makers primarily use Facebook for personal purposes online — the highest percentage of any social network. Additionally, only 2 percent of those polled use Facebook primarily for business purposes — tied with Pinterest for the lowest percentage.
While it may be too soon to see if the advertising simplification has helped Facebook’s bottom line, it will be interesting to see how the company has done financially in the fiscal second quarter. Facebook will share results from the second quarter, as well as chat with prominent investors, at 2 p.m. PT, Wednesday, July 24.
A live webcast will air on Facebook’s investor website.
During the first quarter report, Facebook announced $1.458 billion in revenue (which was an increase of $1.06 billion compared to the first quarter of 2012). Earnings per share were $0.12.
Facebook highlighted a number of advertising techniques used in the first quarter, such as greater targeting and partner categories. The company will likely discuss its expansion of Facebook Exchange (FBX), and will probably touch upon its advertising flow revamp, but the results from the new ad formats probably won’t be evident until the next quarter.
Readers: What do you think the financial forecast will look like for Facebook?
Image courtesy of Shutterstock.
Facebook recently hit the 1 billion monthly active user mark, and now the company has another major milestone to celebrate: 1 million active advertisers.
The active part of that is key, as it means 1 million companies, brands and other people have purchased a Facebook ad in the past 28 days.
Facebook’s Director of Small Business, Dan Levy, blogged about the company’s newest milestone:
Over the past year I’ve had the privilege of meeting and learning from many amazing business owners who use Facebook. Some have just set up their Facebook Pages while others are experts who share their tips with others. I’ve learned from companies like Ministry of Retail in Singapore, Springwools in Ireland, and Scene75 Entertainment Center in Ohio…and many more around the world.
I know business owners like these invest their hard earned money and time into running their companies. So today, on behalf of everyone at Facebook, I want to say thank you to them and to the over one million businesses like them who are active advertisers. You have chosen Facebook as a partner to grow your business. We appreciate the chance to work with you, and we celebrate your success.
Facebook also launched a site for small business owners to share their success stories.
Facebook has officially decided its eight members of the company’s board of directors, a vote that was taken earlier this week at the company’s inaugural shareholders meeting. It has been a busy week for Facebook executives, some of whom also sold stock this week.
Facebook confirmed, in a recent Securities and Exchange Commission filing, the company’s board of directors:
- Mark Andreessen
- Erskine Bowles
- Susan Desmond-Hellmann
- Donald Graham
- Reed Hastings
- Sheryl Sandberg
- Peter Thiel
- Mark Zuckerberg