Facebook Advertisting – The Internet Marketing Gold Rush
May 18th, 2010 by
I am frequently asked what the next big thing in paid marketing is – while I tend to keep my online marketing secrets close to my chest, I always answer Facebook. With hundreds of millions active users, it is Sutter’s Mill in the pay-per-click Gold Rush. As paid search platforms are experiencing exponential growth and decay, it offers advertisers an opportunity to target potential leads at a significantly lower cost than traditional PPC.
As the world’s largest social media site, Facebook has become the popular choice for the local and niche businesses. By allowing marketers to directly interact with people through paid ads, interest groups and applications, it adds a level of engagement lacking in traditional online marketing.
Facebook Paid Ads
With the increasing cost of paid search marketing, advertisers are looking for more cost effective alternatives. As previously discussed on this blog, FB advertising yields a much higher conversion rate for a significantly lower cost. This is attributed completely to demographic targeting and graphical ads. Running an ad with ad content that appeals to your targeted demographic is key to conversion.
Little Nugget: Paid ads are great for new and niche businesses trying to generate brand awareness locally.
Using Facebook Groups and Fan Pages
Active engagement with potential leads is priceless – literally. The best way to do this is through groups and fan pages. Free to set up and great for social media and SEO, groups and fan pages give businesses an opportunity to strengthen customer interest. Because of Facebook’s social nature, they also give businesses the human element that websites lack.
Little Nugget: Groups and fan pages can be used to market to leads before they reach the business’ website.
While many only think of Facebook apps in the terms of Farmville and the endless number of “gifts”, there are many applications that are indispensable for brand building. Two personal favorites of mine are Extended Info and Blog RSS Feed Reader.
Extended Info allows you to integrate custom HTML to create new and interesting fields on the page. Instead of being overly pushing with daily reminders on their timelines, you can designate areas on the page for contest and promotional offers.
Like with Extended Info, Blog RSS Feed Reader can be used to incorporate content you are discussing on your blog with your profile without the use of status updates. Reader always allows fans a chance to share this information via other social media outlets.
Internet marketing is no longer the Wild West. It’s becoming more interactive, sophisticated, and accessible to people of all walks of life. While there has always been a question of how to leverage social media, Facebook is making it easier to build communities and generate higher quality leads. I am positive that as it continues evolving, there will be feverish migration of online marketers looking to capitalize on its success.
Thanks to larcher the Facebook ad image!