Is Facebook Still a Viable Marketing Tool?

With a lackluster IPO and GM pulling its $10M ad budget, many companies are beginning to question the viability of Facebook as an effective advertising medium.  When it comes to social media, marketers need to be clear on what it is they want to accomplish.  According to a GM executive, Facebook advertising has very little impact on consumer car purchases.  And that may very well be true, but to try to make sales through Facebook goes against everything social media is about.  Social media is about connection and engagement.  It’s about creating a more personal connection with your target audience.  It’s about relationships and conversation.  When it comes to social media, one needs to be clear about the ROI.  What is the “r” in ROI? When measuring social media, it’s not a dollar value – at least not initially.

Companies spend millions trying to reach their target audience and, for example, if that target happens to be moms, one would have to be crazy not to consider Facebook.  Why? Because according to Nielsen, nearly three out of four moms visit Facebook.  Additionally, when using social media, moms are 38 percent more likely to become a fan of or follow a brand online.  According to Consumer Pulse, 51 percent of Facebook fans are more likely to buy from a brand they like. Consumers don’t like to be sold, but they love to buy.  Therefore, stop trying to “sell” on Facebook hoping for immediate returns, and instead, utilize the platform to create more personal connections with  your target audience.  Facebook isn’t for every company or every audience, but if you’re trying to reach moms (or other key targets), it’s certainly not a bad place to start.