Facebook

What should companies use Facebook for?

Taura Khuluma Say it!!, , , , , , , , , , Leave a comment

 

 

 

 

 

 

 

 

 

 

Much of the hype behind the actual value of Facebook was to an extent based on the business potential of the site in terms of it being used as a market platform for companies. But, a big but, the transformation of facebook from being a free service for individual user to a site that companies use to target the free service users has many obstacles to over come, firstly how will customers react to deliberate commercialisation of their social capital? there are lessons to learn from the experiences at myspace and capitalisation of social interaction, it didn’t work too well. The next question is how can companies guarantee that their investment will receive coverage that justifies the expanditure on advertising on facebook? There are already several conspiracy theories regarding coverage, exposure and publicity limitations being imposed, randomly or otherwise, by facebook. So, investment on advertising might only produce a fraction of expected market outcomes afterall.

My reservations against the investment in advertsing on Facebook, as shared by www.larrykwirirai.com, are based on two observations, one of which is that marketers are being opportunistic in trying to convert social interaction into commercial capital. And, the other is that, without complete control if this process, since Facebook will manage all the analytics, there are serious strategic gaps that bring up red flags to observers.

I personally think any company looking to use Facebook as an out and out marketing platform to sell products need to fire their marketing team. Selling and overtly capitalist conduct goes against the whole ethos of social media!. Facebook should be a relationship building platform used to develop brand affinity and general communications while giving customers access into the organisation. It’s all about interaction and whether or not this leads to increased sales is dependent on the use of the data gathered via these interactions with customers and strategic capability of the marketing department to convert brand awareness into brand loyalty.

Just because Facebook has hundreds of millions of people to sell things to doesn’t mean marketers should be lazy, there is still the need to be creative be proactive in responding to customers needs if marketers are to successfuly sell their products while using Facebook as part of an effective marketing strategy!

Another social media site sells for mega money

Taura Khuluma Say it!!, , , , , 2 Comments

Just seen that Facebook has bought Instagram for $1 billion, 2 weeks ago CNN nearly bought Mashable for $200 million. There must be something these big companies know about the future of social media and I want in, you should as well. I have read about the increasing power of social media in bringing forth new schools of thought and even ushering in new cultures, it may be time to start going beyond reading and thinking about social media.

So, I find myself thinking (as part of doing), what does it take for a social site to “blow up” as they say in social media circles? A name that captures the imagination of the target group is a must, but don’t shout it out loud before you register it as yours, trademark it and copyright it first then shout about it. The next step is to get people to talk about it on other social media sites, there are two benefits to be attained here, free marketing for your sites to potential users but also free advertising for your site to potential buyers in the future. I am only intending to create a site to sell it on, I think there is only so far I can take it but there are bigger players who I would rather take the risk of taking it global. If the buzz is showing signs of growing, the next best trick is to get endorsed by a global cause or personality, this creates great leverage for your site but be clever about it, remember it is social media, any obvious signs of capitalism and profiteering will drive away potential growth. In the process of avoiding being percevied as a capitalist profit making venture also avoid aligning with causes that draw negative appeal.

Watch this space, one more channel to test my marketing education. Check out my friends at 3-MOB, they are an ever growing force in Zimbabwean social media, http://www.3-mob.com/