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Facebook Marketing – How Effective is Facebook Advertising?

Facebook Marketing – How Effective is Facebook Advertising?

After spending a few weeks synthesizing information from global marketing agencies, news organizations and big data, we’ve squeezed out some helpful statistics to help you make better decisions about your social media marketing. It is interesting to see a summary of trends in effectiveness in Facebook advertising across different sectors. The numbers in the charts are based on 326.7 billion impressions for an estimated 266 clients across 180 countries.

Facebook advertising clickthrough rates by consumers

Facebook ad clickthrough varies dramatically across sector:

As one would expect, lifestyle sectors are highest, but transactional sectors like Retail, Travel and Computer and Electronics are not much lower.

Facebook advertising cost-per-click (CPC) rates (what are you paying?)

Note that we in the US are paying CPC rates for our Facebook advertising and it is projected to stay that way.

 

Cost per Thousand Impressions (CPM) rates, however have increased. These numbers indicate how much Facebook itself earns every time an advert is shown to a user. CPMs have increased by 8% on average over the past quarters. This takes the total increase up to 21% and means that Facebook has earned quite a bit more as of late from its advertisers. Due in most part to the new changes of the ad placements within their system.

 

According to the New York Times :

In late February, Facebook announced partnerships with four companies that collect lucrative behavioral data, from store loyalty card transactions and customer e-mail lists to divorce and Web browsing records.

They include Acxiom, which aggregates data from a variety of sources, including financial services companies, court records and federal government documents; Datalogix, which claims to have a database on the spending habits of more than 100 million Americans in categories like fine jewelry, cough medicine and college tuition; and Epsilon, which also collects transaction data from retailers.

 

Pro Tip – Keep your traffic within Facebook and reduce CPCs by 41%

The biggest takeaway we have found is that the lowest CPC rates are attributable to companies running Facebook advertising campaigns that directly recruit fans within the Facebook platform and/or require users to install applications that support these goals. Savings of up to 41% can be reached by direct recruiting companies, compared against companies that direct their traffic away from Facebook. This is an incredibly strong incentive for companies to build their presence within Facebook and market directly on that platform.

Facebook marketing is the must of the social media marketing world. B2B and B2C alike can benefit from the increased branding, customer loyalty, organic SEO and general digital footprint. Ignoring Facebook means ignoring over 1 billion users that are potential customers and no business is too successful to ignore that many untapped prospects.

If you need help navigating Facebook Marketing, Socially Buzzing does Facebook Marketing and Advertising Right for ANY Size Business.

Let’s Talk

 

 

Local Search Marketing, You Have to Do It.

4 Tips to Harnessing the Power of Local Search Marketing

If working in small businesses in various corporate levels has taught me anything, it’s that building a loyal following and customer base begins at home, with Local Search Marketing.

Perhaps you’re a business owner who has a customer base in a particular town, but you want to give your advertising a little more oomph. Maybe you’re just launching your business and you’re ready to spread the word.

Whatever the case may be, search engine optimization (SEO) is a wise investment – but local SEO is even wiser.

How do you harness the power of local search engine marketing? Read on!

Mark it on their maps!

Let me illustrate this point with an example. If you were to search for Italian restaurants in Cheyenne, Wyoming on Google, Bing or Yahoo, you’ll find a map among the first results, listing the appropriate restaurants by geographic location, rating and address.

Basically, registering your business location to any (why not all) of these search engines is a free boost in search engine rankings! All you need to do to register your location with any of these search engines is to visit the respective sites, fill in your business information and your business is quite literally on the map.

Keywords are king

This is a common-sense point, but it deserves to be said nonetheless.

Keywords are vital when it comes to search engine optimization and boosting your business’s rankings; they are all the more important in terms of local marketing.

Be sure to pepper your content with keywords like neighbourhoods, postal codes and nearby cities/counties to give your potential customers the opportunity to find you on Bing, Google, Yahoo or any search engine. Thinking and writing locally opens up a whole new world of online advertisement.

I must warn you, though, select and use your keywords carefully. Spamming your website visitors will do a lot more harm than good when it comes to SEO on any level.

Keywords behind the curtains

Assuming your website is well-designed and is operating just fine (which I’m sure it is), you’ll have images and videos related to your business and what you’re all about.

I admit, this is an area where we’ve fallen behind on occasion , but I don’t want you to forget it! Once you’ve selected keywords – both local and otherwise – be sure to infuse your meta descriptions, images and other page elements with keywords as a non-invasive way to move up the search engine ladder!

Give the mic to your audience

Whenever I complete a project for one of my first-time clients, I’m sure to send along a thank-you note, not only expressing my gratitude for their patronage but also to ask for their honest feedback.

The reviews you receive online are often trusted by the public, and the more positive reviews you receive, the higher you will rank on search engine maps and search engine results as a whole. If you have customers, for example, with a Gmail address, consider asking them to rate and review their experience on your Google Places page to move up the ranks on the map.

How do YOU boost your website through local search engine marketing? We’d love to hear from you!

Customer Loyalty Integration with Social Media

At times, in the world of social media marketing, when companies are vying for digital dominance, they forget one of the most important building blocks of their business.

Brick and mortar customer loyalty integration.

There is a difference between a “frequency” program and a “loyalty” program. Yes, indeed, frequency of visit is an important part of customer’s loyalty but it is only this – a part. Well-designed loyalty programs can increase your sales and the average spending of your customers. Apart from the crucial financial advantage, customer loyalty programs bear many important benefits:

Retain customers

Gaining customers is the first and most crucial step for your business. But retaining those initial customers might actually prove to be a difficult job. There is an old golden rule, referred to as the “80/20 rule” – which basically means that around 80% of your sales come from only 20% of your customers. These valuable 20% returning customers are most easily retained by utilizing customer loyalty programs.

Acquire new customers

If you want your business to grow and expand, you need more new customers to spread the word. A good loyalty program can easily attract new customers to your business. To achieve this, you need to employ a well-designed reward system, targeted at the particular audience.

Win back customers

There will always be people, who feel dissatisfied with your business. Creating a special loyalty program might be the way to show them that they’re wrong! Also, “lost” customers might be easier to win back than trying to attract new customers. After all, you already have information about your previous customers, including purchase history and their preferred channels and modes of communication.

Positive reputation

There is no better advertisement that a “good word” put by one of your customers. People tend to rely more on personal reference than business advertisement. Loyal and satisfied customers tend to share their positive experience with your business and in this way, spread the word. A tip, employed by many companies is adding a special referral points to your customer loyalty program. This means that your customers will have even more motivation to refer their friends and relatives to your business!
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Gain insight

Understanding how your customers think and what they want is the key to a successful business. Customers’ satisfaction is what makes your customers stay and your business grow. You can track your customers’ frequency of visits, typical purchases, amount of money spent with marketing reports, based on the customer loyalty programs.

Knowing your customers’ preferences can help you select your stock lines effectively to suit your customers’ needs.

Don’t forget, loyalty programs can drive customers to your digital presence, and your digital presence can feed customers to your loyalty programs.

Small businesses need to Use and Manage Yelp.

In today’s time of technological innovation many small businesses are using alternative ways to advertise online using social media. Many social platforms are gaining more exposure and making the communication experience much faster and easier.

With over 60 million registered users and over 20 million reviews posted on the site, it’s fair to say Yelp is still the dominant force when it comes to social review sites.

Restaurateurs know the value of increasing their star rating on Yelp. But other businesses make up 75% of the listings, showing that customers turn to the site to make decisions in regard to all sorts of local businesses.

Yelp is the big dog in local search that can be used to increase business exposure and can impact all aspects of your small business.

Yelp is a free marketing tool that can be used to increase sales and gain important feedback from consumers. The most important benefit that can be obtained through the use of Yelp is communication. The site is organized and constructed to be a type of digital word of mouth site that encourages reviews and allows people to express their opinions. If used properly, Yelp can have an incredible impact on your small business. See How 4 Companies Used Yelp To Woo Customers

However, Yelp is not just a one dimensional website focused solely on reviews. Events and reminders about your business can be posted for potential consumers to see. Messages can be updated often and Yelp even allows you to follow other users much like Facebook and Twitter.  Yelp even has the added convenience of allowing you to upload data directly from your Facebook account to your Yelp account for added convenience. This small business marketing site can be used to grab the attention of a wider audience that would be difficult to attain without it.

One thing to keep in mind when dealing with Yelp is that they use a sophisticated filter algorithm to remove “fake” reviews by business owners themselves. They want real reviews by real people. Don’t try to mess with the system by adding a ton of fake reviews – this will only hurt your page as Yelp does not take kindly to phony reviews.

It is important to constantly keep up with your Yelp profile. Reviews posted to your business Yelp profile can be very important to your sales. Yelp can provide you with tons of information from people that are familiar with your product and have an opinion. Every business can gain knowledge from establishing communication with consumers that use their product or service. These reviews can be seen by others and work as a form of free advertising for your small business. Small businesses need to use every innovation possible to level the playing field with larger companies that they are competing against, and Yelp can make up a big chunk of that.

Not all small businesses think Yelp is so wonderful. Brandon Mullins of Socially Buzzing, a local internet marketing company  in Cincinnati, Ohio, was interviewed by a local news station regarding Yelp’s less than appreciated attempts to coerce a small business client to advertise with them. Although the research is still ambiguous, there are some indicators that Yelp’s algorithm may punish small businesses for not advertising with them, but this has not help up in court nor has hard data been produced to verify it.

Video

In order to reap all of the benefits associated with social media marketing sites it is important to have your business accounts on Yelp, Twitter and Facebook managed by a professional social media agency. A professional agency can help monitor and manage all of your social media accounts, and keep them updated at all times. Time to start using the best strategies available so  your business can punch above it’s weight.

Getting on Yelp
1. First, start by finding your business to see if you are already listed on Yelp.
https://biz.yelp.com/signup/

2. If your business is already listed on Yelp click on the listing to view the details.
3. Click “Is this your business?”
4. Go to step one to begin unlocking your page
5. Fill out the form with your name, email and password.
6. This will then begin the phone authentication process, make sure that you are near the business phone you have listed and can answer it.
7. Your business phone will be called asking for the code that appears on your screen. Enter it into the telephone.
8. Your business account will now be unlocked and you can access the Yelp tools on your account page.

Basic Steps that help market Your Business Through Yelp

1. Make sure all your business info is correct; hours of operation, address, pictures, etc.). It is important that you list as much info as possible for the user and that all the info is accurate.

2. Add photos of your business, especially for hotels. Most people may not even bother visiting your website, they will have everything they need within Yelp to compare nearby hotels. Be sure that you show them the best up to date pictures of your hotel’s property.

3. Respond to all reviews, both negative and positive. One of the downsides to using an application like this is it’s potential to hurt your company’s image with bad reviews.  It is important that you use any negative reviews as feedback for how you can improve your business. You cannot remove a negative review and the best way to deal with it is to address it. You can post a public reply in which you should address the issue, apologize for any problems, and offer the customer a second chance to try out your company or hotel.  See the Yelp tips for replying to customer reviews.

What is the True Cost of Hiring an In House Social media Manager?

When our marketing team here at Socially Buzzing talks to prospective clients, one question that often arises is:

“Why don’t I just hire my own social media team or manager and handle things in house?”

why-should-i-hire-socially-buzzing

This is a fair question and one that deserves an answer.

We have put together some relevant data as to what forming and maintaining a social media department could cost.

Social media is often touted as being free. While many of the tools such as Facebook and Twitter are free, social media is time and labor intensive. The cost of devising and implementing a successful social media strategy that gets results is anything but free.

A Social Media support group, Social Ally, led by Sally Falkow and Chris Abraham, has released figures that show what social media can actually cost. Social media is fast becoming more than just a part of the marketing and PR mix.  Most savvy companies now considerate it essential and realize that in today’s competitive business community every tool must be fully utilized.

Companies are realizing they need to integrate social engagement into employee relations, hiring, customer service, risk management and product development. This means hiring social media savvy people in many roles across the organization, or putting a dedicated social media team in place to manage the integration. To plan and effectively implement a social media strategy would require the services of a social media strategist. Most social media strategy consultants charge between $100 and $300 an hour. If one were hired full time, a company would probably have to pay between $50,000 and $100,000 a year. A community manager will cost between $50,000 and $75,000 a year, according to: EConsultancy Social Media Salary Guide in the top 20 US markets .  Successful engagement across the organization means staff has to be trained.

bright-idea-outsource-social-media-management

An in-house social media manual and online training course would be around $10,000 and hiring a trainer for on-site workshops will cost anywhere from $1500 – $10,000 a day, depending on who is hired. Companies could be looking at $250K Dashboard and monitoring tools could be another $30,000 – $80,000 a year. Technology costs — blogs, mini sites, video equipment, custom Facebook tabs and apps, online newsroom and mobile apps could be anywhere from as little as $5,000 to as much as $100,000. Take it all into account and a company could be looking at a quarter of a million dollars a year!

Yes, many successful programs have been done for much less, but when calculating ROI it’s wise to look at the big picture and include all the hidden time and labor costs, in order to get the real cost of investment and see the actual return. “These figures make outsourcing Social media support activities an attractive proposition,” says Falkow. “Engagement and conversation has to be done by people in the company. That’s what social media is all about — conversations between the people in a company and their stakeholders.

But engagement is only a fraction of the social media pie: “75% of the work is in the research, monitoring and content creation — and that can be outsourced.”

At Socially Buzzing, our expertise, along with our best in the industry techniques and infrastructure give us an edge that allows for affordable yet full time engagement with all major and many micro social communities.  Call or e-mail us for a customized presentation or to pick our brains.

cost-reducation-by-outsourcing-social-media

(This article originally appeared on our Socially Buzzing Facebook page on February 11, 2013)

 By: Brandon Mullins, President of Socially Buzzing INC

Socially Buzzing is a full service online marketing agency located in Cincinnati, Ohio.

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