Thursday, November 29, 2012

N2 Social Media Hub with Facebook

Thank you N2 and Heineken for setting up the social media hub yesterday with Facebook. Check out this Twitter feed to get different point of views from participants. Here are my notes and comments from the event. It was a bit funny, but I believe that speakers didn't mention Facebook (banner) advertising at all?!

The key take away from Johnas Liljegren is that things happen in news feed. Facebook is changing the EdgeRank all the time and no matter what, you should be visible in people's news feed in order to engage with them. This doesn't mean spamming. Here's one tip:
"People can subscribe to your Facebook page notifications. Use sponsored post to tell people about it."
In general, it may be a good idea to compare sponsored posts and other ad formats against Facebook banner ads. I so agree with Johnas about the fact that companies should think Facebook, and social media in generally, as a long term investment. You should use insights and measure social media activities in years rather than months. Ninni Lindertz said very well that Facebook marketing is more psychology than technology. Every marketer planning (if the planning stage exists) content for Facebook should think:
"Why people would engage with us? And why they would share?"
Ninni showed us couple of very nice examples how companies are using Facebook in innovative ways. Like with all kind of marketing, you should start planning with the end in mind. What do you want to achieve in the long run? Andy Pang told us about cost savings (-25-60 % against overall online campaigns) with better targeting and how to measure Facebook marketing.

Andy told us about reach, resonance and reaction model, which is not far away from models like REAN and other similar. Nowadays I use pretty much reach, engage, convert, retain and advocate - kind of model. So the last one, advocate, really including social media to your key performance indicators. You can take a look of real life KPIs from my previous post. And one social media metric that I really like is called Interactions Per Mill.
"IPM, a social media metric, stands for interactions per thousand fans."
Anyway, no matter what your KPIs are, at least you should have them and you should use them in regular basis in order to get better understanding how your activities are performing against your goals. If you want to sell better or you want to improve your return on investment (ROI) or return on Facebook ad spent (ROAS), you may have micro goals such as better customer satisfaction or engagement before the final outcomes.

Jussi-Pekka Erkkola gave us good learning points from Valio perspective: enable and integrate social media to your other marketing activities. Communicate, work and engage with your fans (yes, this needs some resources). Plan (daily, weekly basis), be topical and measure your social media activities. And don't be noise!