Every Friday morning, our team meets to talk about the week that was and the good news for clients courtesy of social media marketing. This week”s discussion was especially gratifying, considering the five days of doomsaying and finger-pointing that has resulted following Facebook”s less-than-auspicious IPO.
A good portion of the news came from Facebook and Facebook ads; leads, likes, sharing, fans added to pages, forms filled, customer engagement thanks to questions on Facebook business pages. All are potential sales, but even if that isn”t the end result, all are community-building, content-sharing examples of social media”s power in business marketing. Oh, and did I mention that some of this goodness came courtesy of Facebook Ads?
But wait: wasn”t the Facebook IPO proof of a flawed business model, as media critic Michael Wolff wrote in a widely-distributed (and argued-over) MIT Technology Review post, “The Facebook Fallacy?” Then there was Pulitzer Prize-winning author Steve Cool”s New Yorker piece, “.” Between posts like those and mainstream media outlets doing their best to tie the company IPO to the dot-com bust, one would think the party music was winding down for social media.
However, life goes on for Facebook and its related ecosystem, even as questions have arisen about how this particular public offering was handled. Some new FB features from the week:
- Facebook launched its Promoted Posts this week, which allows Page owners to get their content distributed to more users, depending on the number of likes they have and how much they”re willing to pay; the sliding scale ranges from $5 to $300, and Facebook tells you how many more users you”re likely to get at each price point.
- The social network is releasing more analytical information to brand page administrators: the percentage of users who have viewed a page they liked is now available. Expect more data to roll out as the company continues its efforts to be more marketing friendly.
- A new Facebook app, Timeline Movie Maker, searches the photo, video and text content on Timeline pages that drew the most engagement from users and turns it all into a one-minute video (with music). Here”s another content idea for jazzing up brands and business presence on the network.
- Oh yeah: Facebook also released its own photo-sharing app, Facebook Camera, which may explain why it dropped a cool $1 billion on buying Instagram. A quick test-drive of the app resulted in fast sharing/commenting, plus you can see what your friends are uploading. The filters and effects aren”t quite ready to take on Instagram yet, but who knows; a year from now the two apps will probably be starring in their own episode of “Will It Blend?”
All that – plus a user base rapidly approaching one billion – sure doesn”t sound like the death knell of the world”s largest social network. But that”s just me. What do you think? Please share in our Comments section below.
Have a safe and happy Memorial Day weekend. We respectfully asks that you take some time this weekend to think about those service members who made the ultimate sacrifice in the defense of their country, and to keep their families in your prayers as well.