Social media is an extremely complex and difficult field to decipher. Merely setting up a Facebook page cannot be considered “social media marketing”. (This is why there are companies that provide social media services).
The problem with this market is that everyone feels that they need to be on Facebook and in the various communities; they just don’t know how to do it properly.
At the end of the day, some of the communities are just not worth the effort from a customer’s marketing point of view. For example, currently, although Twitter is an amazing company worth billions, in most cases it does not justify the resources invested by customers to market using Twitter.
There are also communities like Pinterest, Instagram, and others. Here, the question of resources again comes up with clients. How much should I invest versus how much I will get in return.
The point is knowing how to make money out of the entire social media marketing channel, which is not always precisely measurable.
Gary Vaynerchuk said, “What is the ROI of your mother?” (What is the Return on Investment of your mother?) After all, she nurtured and raised you, and now you are mature and full of confidence. Is it because of the hug she gave you at 16 or because she breastfed you, etc. In other words, unfortunately, social media marketing channels are not as measurable as online marketing and website promotion on Google. Google is measurable and it has data. With Google, we know what the conversion rate is in real time. We know what we paid, what we got in return and so on.
In social media, we do not.
However, the fact is that there is a community that’s alive and kicking and will definitely produce clients for you down the line. How, when, or how many is harder to decipher.
If that’s the case, what are we looking for?
We aren’t looking for Likes, rather, we’re looking for the customers’ involvement with the business. Emotional involvement can be a smile, a comment, a share or anything else.
The thing we are looking for is a High Involvement Rate.
At the end of the day, this involvement will be translated into people becoming aware of the business, and then talking about it at social gatherings and, despite the fact that they aren’t your clients, they will remember you, recommend you and so on.
Do we sell on Facebook?
We are extremely cautious, and maintain a very delicate relationship with the customers. Generally speaking, there should be around 70% involvement posts that relate to the business’s field. If my business has to do with swimming, posting beautiful pools from around the world is cool and produces value. 20% of the posts should be directly related to the business. For example, if I have an activity center, I can post a new activity, a new photo gallery, a new video about the business and so on.
Once the customers have had their fun, the remaining 10% is where we “let ourselves” go for a “hard sale”, in other words, X promotion, or registration for Y and so on.
The above ratios are not set in concrete, and every business needs to set their own ratios. For example, Groupon is completely sales oriented, and that is the right strategy for it because that is what its customers want, but on the other hand, a company like El Al, should be 100% fun.
One thing is for sure, Facebook is not to be used as a tool for repeatedly promoting products of one kind or another. Again, when you don’t know what to do exactly, you should always use a company that provides social media services.
Who should definitely market on Facebook and social media?
B2C businesses who work directly with customers.
To whom might we not recommend it? To B2B businesses – businesses who work with other businesses. This calls for a more sophisticated examination and approach and is far more difficult to decipher for B2B businesses.