Find Your Fans: The Cost of Marketing on Facebook

f f FIND YOUR FANS A THE COST OF MARKETING ON FACEBOOK Lke Comment Bhare With an audience of 800 milllion potential customers, businesses are flocking to Facebook as their go-to social media marketing platform. We examine the who, how, and how much of Facebook marketing. WHO IS MARKETING ON FACEBOOK? Almost everyone is on Facebook. It has become a hotbed for corporations and small businesses to leverage customer support and sales. A recent smal business social media survey found 69 percent of small businesses turn to Facebook for marketing. Almost two-thirds of businesses surveyed use Facebook as their main More young small business owners are using Facebook and Small business owners 54 and older are less likely to rely on Facebook for their marketing. 69% 73% 58% social media to market their business. marketing tool. FACEBOOK MARKETING: COST PER "LIKE" While this amount differs depending on the size and scale of the marketing campaign, a study from the analytics firm Webtrends found that on average the cost of obtaining a fan is $1.07. This amount includes the cost of advertising on Facebook to encourage a user to become a fan. AVERAGE COST OF LIKE MARKETING BY NUMBER OF PAGE LIKES In essence, the more likes your page receives, the more money you will need to spend to maintain customer interest and interaction, 6500 20.000 6 60,000 6100,000 6300,000 $5.350 $21,900 SG4.200 SIO7,000 $321,000 LEVERAGING FACEBODK'S PPC Besides creating free fan pages, many companies are looking into the self-serve pay-per-click advertising platform on Facebook. Nearly half of North American Of the glabal businesses that market through PPC campaigns, 47 percent use the Facebook Among North American advertising agencies, 74 percent are laveraging Facebook's self-serve platform, companies that 45% 47% 74% use search engine marketing use the PPC Facebook option, PPC. FACEBOOK ADYERTISING: COST-PER-CLICK BY INDUSTRY How much a company pays to advertise and market on Facebook largely depends on the type of Industry they are in. SI2. S127 SLO3 SO.82 SO.80 SO.79 SO.67 SO.56 $0.53 S0.50 S0.50 S13.. S0.36 $031 HENLTH CARE INTERNET TELECOVNINCATIONS FINANCIA SERICES GRICERY LOCIL SERAICES IEAL ESTATE BESTAERANTS STORES TELARERS STARTOPS RANEL ECONMERCE MAKING THE MOST OUT OF YOUR FACEBOOK MARKETING If you are heavily investing in your Facebook marketing campaign, it is important to maximize the marketing potential of your Facebook pages. GRANT EXCLUSIVE ACCESS REWARDS AND INCENTIVES DON'T JUST BROADCAST SPEND THE TIME One of the best ways to engage with fans on your page is to offer them exclusive access. Social word-of-mouth is particularly important in Facebook campaigns. Rewarding fans and followers who are "brand ambassadors" Avoid the pitfalls of Just broadcasting from your Facebook page You'll gain more Time is one of the most crucial tools for Facebook marketing. Make sure you are constantly engaging with your fan base. Keep your page up-to-date and regularly post to keep your page active on your followers' feeds. This can be access to followers and product devolopment or Facebook-exclusive sales. Sephora has click-throughs If your page provides relevant content and engages customers on a regular encourages great interaction. GoPro camera asks fans to rewarded customers in the past with friend-only deals and samples. basis. submit photos on their page to receive a prize. SOUFCES FORES CIM I WATALELE CONIFONTEN CONIl Flowtown. In Partnership with Column Five EAKINAS E IKEATE VEKENIS CEM ITAICON