Guest post by Edward R. Kundahl, President of IdeaOverTen, LLC.
The effectiveness of Facebook marketing campaigns can often be uncertain. A number of variables need to be considered in addition to the number of likes on any given Facebook page for business. Basically, the success of Facebook marketing can be defined in many different ways. In the most direct sense, Facebook marketing performance can be measured by trends in conversion rates from page visitors. Effective Facebook marketing can also act as a catalyst for building a meaningful social media presence; and Facebook can be used essentially as a tertiary tool for boosting conversion rates and ROI via third-party influences.
How to avoid common Facebook marketing misconceptions
There are a number of tools available such as Facebook’s Insight that can help avoid common misconceptions about the influence of Facebook marketing campaigns. A few examples of common misinterpretations Insight can address are listed below:
- Having a large audience that is largely disengaged is one of the most common signs a Facebook marketing campaign is on the wrong track. Many Facebook pages for businesses have grown too large for individuals to reasonably measure overall engagement. Insight offers valuable analytic user behavior data including how many users hide posts from newsfeeds, how many users unfriend a Facebook business page, etc.
- Lack of visibility. Insight can also offer social media marketers a chance to see when it's the best time to post on Facebook. Quality posts are less valuable if fewer audience members view the posts on their personal newsfeeds.
- Failure to examine patterns in user behavior data. Time and date-sensitive trends in user behavior data can be indicative of overall Facebook marketing ability for a number of market segments. Certain niche segments such as many retail products marketed directly to consumers should anticipate seasonal spikes in sales and user engagement that align with initial projections outlined in business plans. Trends in user engagement can either confirm a productive Facebook marketing approach or suggest that an alternative approach might be beneficial.
Optimal Facebook marketing efficacy
Ideally, a Facebook page for a business can accomplish a number of essential marketing tasks. A truly optimal Facebook page can promote independent brand advocacy, promote positive public perception, promote a strong social media presence, and promote building a meaningful community around almost any given brand. Utilizing tools such as Insight can help give marketers strong quantitative data to assess the basic success of Facebook marketing campaigns. In addition, it is important to look for qualitative data on Facebook such as the quality of responses posts received and self-report demographic data of any given Facebook audience. Utilizing Facebook as a primary marketing channel or as a tertiary marketing tool does not indicate overall effectiveness per se. Instead, examine the big picture. Look at the ratio of resources allocated for Facebook marketing compared to Facebook-related revenue.
The science and art of data analysis on Facebook
There is both a science and an art to effective data analysis in social media marketing, especially in the larger context of boosting ROI. Understanding statistics and comparing trends to projections in initial comprehensive online marketing plans is almost always necessary. However, combining statistical user data with qualitative user data to form effective new marketing strategies that drive revenue is an art.
Edward R. Kundahl, Ph.D., M.B.A.