New Facebook Tools Can Help Market Building Products Through Social Media.
As reported by E.B. Boyd in Fast Company, a set of new tools released by Facebook will allow marketers to measure word-of-mouth—the actual metric of “shares” as opposed to the more general “likes”—plus create ads based on the data.
The tools, part of a new dashboard called Insights, will help building product marketers who utilize their Facebook page to reach their customers. Plus when a user “likes” an ad for your product, a new option creates ads that are “sponsored” by that user and shared with the people they know. Facebook claims a 68% increase in ad recall, plus a 4x greater likelihood that the person will purchase the product compared to generic “unsponsored” ads.
What could this mean for those who market in the building products channel?
1. Less Waste
With numbers like those Facebook claims, ads from friends stand to be an even better pay-per-click option than many existing outlets because it is based on referrals as much as it is based on features or benefits. This kind of highly targeted marketing is a boon of social media, tapping into an established word-of-mouth network.
2. Greater Trial
Whether it’s for a restaurant or a new product, we often look to others to provide some insights before making the decision to try it. But more than critics or reviewers, the input of friends, of those we trust, carries more weight. As a result, potential customers will be more likely to try your product if the recommendation comes from a trusted source like a Facebook friend.
3. Better Metrics
With print especially, it’s often difficult to track responses. And viral marketing gets spread quickly through social media, but is often a “throw it over the wall” approach with no means to gauge its effectiveness. With Facebook Insights, you can track response rates through clicks, but also rank the source, finding which relationships are the most effective in spreading word of your product.
With such a powerful tool now available, it’s not enough to simply have a Facebook page for your brand and gather fans. For building products marketers, where relationships and word-of-mouth mean survival in this economy, Insights should quickly prove to be an incredibly effective way to build your awareness and sales!