31+ takeaways from this 93 minute interview:
Facebook’s pages platform reaches only six percent of a brand’s followers; and it’s headed down to one to two percent.
If businesses want to make sure that people see their content, the best strategy is, and always has been, paid advertising.
The theory that people want to engage with brands online and share their enthusiasms with their friends and that their friends will share their enthusiasms with other friends through social media channels has turned out to be an infantile fantasy.
In fact, what social media sites are rapidly becoming is just one more channel for traditional paid advertising.
Here’s what you need to know about social media:
The hundreds of millions of people using social media are interested in interacting with each other.
Not brands, not ads, not you, not me.
Technology allows for participation and interaction.
It thus follows that creative ideas that wish to leverage technology must find ways of offering participation and interaction.
Cue the rise of the participative idea.
Email remains a more effective way to acquire customers than social media.
Nearly 40 times that of Facebook and Twitter combined.
When someone chooses to share your content, this demonstrates two things.
1) The reader has found enough value in your content to recommend it to the people he or she knows.
2) Now more people are likely to read your post. After all, at the end of the day, people would rather take recommendations from their friends, than from a brand.
Once you see your shares sky-rocketing, you’ll know you’re doing something right.
There are people (in advertising) that believe that consumers are ‘in love’ with brands.
They believe consumers want to have ‘relationships’ with brands.
They want to have ‘personal experiences’ and be ‘personally engaged’ with brands.
There are people (in advertising) that believe that consumers are going on Facebook and Twitter and having conversations with each other about brands.
Likes and favorites are certainly great forms of engagement. They show that your audience is interested and appreciates whatever it is that you’re sharing.
However, liking a post is very different than clicking a link.
Certainly, the more likes you get, the more likely it is that people will consume your content, become fans and hopefully customers.
However, ultimately, the “like” is a weak form of engagement.
E-reputation dictates that if a person discovers and shares something interesting, then that person feels like a god on the internet.
Further, if that person’s social network likes what that person shared, it’s social proof and means that that person has good taste and is somebody who finds and identifies interesting things, which means that that person will receive more followers.
A study looking specifically at consumer attitudes found that consumers who had been asked to evaluate products individually, and were then told that their peers had evaluated the same products negatively, were heavily influenced by what they heard.
If 90% of your traffic is coming from Facebook, then what would you do if Facebook’s next policy change tampers with your traffic flow?
If Google search (paid and organic) makes up 90% of your traffic, then what are you going to do if a financially backed competitor purchases your keywords and steals your traffic?
Don’t put all of your eggs in one basket, keep a diverse portfolio of incoming traffic sources. It’s much safer for the success of your website.
An intriguing aspect of our willingness to follow the flock is that we don’t actually need to see the flock ourselves: it’s enough for someone to tell us what the flock is doing.
Your customers – or your competitor’s customers – are already out there telling you what they want. You just have to actually go look. It could be on Amazon, Facebook, Twitter, searching for (your competitor) + ‘sucks.’
Many brands are in for a surprise, especially as young Internet users see themselves as web experts capable of influencing others. Large numbers of them discuss the advantages and disadvantages of products in forums. Many post brand logos on their Facebook profiles.
Brands are a part of their personal identity.
Advertising works most effectively when it’s in line with what people are already trying to do. And people are trying to communicate in a certain way on Facebook. They share information with their friends, they learn about what their friends are doing, so there’s really a whole new opportunity for a new type of advertising model within that.