Facebook Advertising: Is It Money Your Business Should Spend?

BradFriedman
Brad Friedman President, The Friedman Group, LLC

Posted on December 25th 2013

Facebook Advertising: Is It Money Your Business Should Spend?

 

Facebook Promote PageDo your 2014 marketing plans include Facebook advertising to promote your Facebook Business Page?

Are you familiar with Facebook’s algorithm called EdgeRank?

Do you know EdgeRank was implemented to limit who sees your posts? Meaning that even if you have 2500 loyal brand advocates who have Liked your page, only a tiny fraction of them may see what you post and you have no control over it.

In 2014 Facebook Advertising Will Be A Necessity If You Want More Reach

Facebook statistics show organic reach for your Business Page is dropping like a bowling ball off a high-rise. Facebook’s suggested solution is for your business to pay for Facebook advertising.

To be clear: Facebook is purposefully limiting the number of people who see your posts and suggesting you advertise with them so the people who already Like your page, have a better chance of seeing what you post.

A quick aside. Just to be fully transparent. You should know I was one of the lucky ones to participate in the Facebook IPO debacle. I am the proud owner of very few shares of Facebook stock that today is actually worth a little something. So, to be honest, I’d love it if all 1.2 billion people on Facebook bought advertising in 2014 so the value of my stock goes up.

Keep in mind; this isn’t the most recent news. In 2007 CEO Mark Zuckerberg announced, “The next hundred years will be different for advertising, and it starts today.” And then, in 2012 before the IPO we started to learn about “Facebook’s EdgeRank algorithm, designed to enhance users’ experience by putting only the relevant content in their news feeds.” And Facebook gets to determine what’s relevant to you!

Should Your Business Question Its Facebook Presence?

Here’s the way I see it. Businesses have created Facebook Pages en masse and they’ve paid to sponsor posts and bought advertising in order get more people to Like the Page. And now, business owners have to pay even more money just so the people who Like their Page can see their updates.

What do you think about all this? Will your business be buying Facebook ads in 2014?

BradFriedman

Brad Friedman

President, The Friedman Group, LLC

Brad Friedman is a “Recovering Attorney” living in Denver, Colorado. In 2010, Mr. Friedman parlayed his passion for technology and his business, legal and marketing savvy into the creation of The Friedman Group, LLC. Brad has developed a group of highly skilled people to work with attorneys, CPAs, financial services providers, small businesses and other professionals to develop strategies that enhance their online presence and engage clients, prospects and referral sources through the power of inbound and social media marketing with the goal of generating leads and revenue.

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Comments

I think Facebook advertisement is good por leisure companies, as traveling, restaurants, discotheques... 

Apart from the fact that this website should be called Social Media last fortnight, this news is mostly frustrating because Facebook has decided to exclude my brand's page from it's programme due to the fact that some of our products are prescription drugs. However, if we sign up to their £900 per month 'Start to Success' programme, we can advertise.

We're focussing on Google Plus in 2014.

Brad

 With all due respect, I expected a little more from a man who claims to have ahandle on social media.

As a 30 yr Sr Vet of sevearal to ad agencies aroubd the globe, I am amazed that  the world of social media is largely inhabitited by neopyhtes.  LESSON ONE; "LIKES" MEAN , NADA, ZERO,NOTHING, Gogatz!!!!!( Show me how many $ it puts in a companies pocket-ANSWER; NONE

When you can quantify results , and when you hsve CAPTURED the information -geographic, demographic, psycographic- to build a meanfull and hopefully a  LIFELONG relationship with your audience  you Finally understand what social media is supposed to do.IF not  you, are fooling your employer, client and yourself..

 

 

 

Reading this article at: http://blog.kissmetrics.com/most-value-from-facebook/

shows what and how facebook leverages it Advertising. This post includes surveys and stats from Forrester

1. Facebook shows “each brand’s posts to [only] 16% of its fans

2. Facebook uses very little of its storehouse of collected social data to target the right people with the right ads. This means marketers get little ROI for display ads and can (and do) get better results on other networks

 

You will also know what action to take and derive maximum value from Facebook