Brands using Facebook for advertising are currently challenged with low-yield and some are re-considering Facebook as a sustainable advertising medium. Facebook, for now at least, seems to have not found the “holy grail” answer yet for the advertisers.
In the past 30 years, waves of new technologies roughly occurring once every decade have transformed different functions within global enterprises. For example, in the 1990s we saw the rise of Supply Chain and ERP companies such and i2, JD Edwards and SAP, while the 2000s was the decade of...
Brands today focus on responding to the social media conversations on their “owned” social media properties (i.e., listen and monitor their FB fan pages and own twitter handles), and employ a group of brand community managers to engage with this audience. Such conversations are largely “outbound” and may or may not be contextual to the audience at that moment.
Example: when a retailer combines customer CRM data with social graph data, it may be able to identify the “key influencers” (people who are evangelists or considered experts on certain products, like a camera) among its customers and use them for creating awareness and buzz about a new product being launched.
Mining social data is a means of improving individual campaign performance and increasing brand relevance. The data can be used to distinguish which customers are in which part of the purchase funnel, which is key to getting the right message to the right consumer. This essentially means analyzing what type of messaging works well and on what platforms, learning from the messages that don’t work and tweaking them the next time around for better results.