Note: We recorded this video a day or two before the Cambridge Analytica revelations. We will do a follow-up video on those implications for businesses, users, and marketers.
You are probably aware of the recent Facebook algorithm changes. In this Strategy Brief, we’ll cover what they mean for marketers and some strategies you can use to get the most value from your investment.
First of all, a few interesting facts:
- There are over 65 Million Business Pages on Facebook.
- At this time, 1 Billion Facebook users log in at least once a month.
- Most of the growth is coming from markets outside of North America.
- Pages that used like, comment, and share baiting tactics are being penalized.
- Organic reach, on average, is around 1% – 2% depending on your audience and engagement history.
- And here are 31 more Facebook stats you should be aware of: linky link.
The recent Facebook algorithm changes have tipped away from business pages, which means even less organic reach for most business pages. So, here are some options to consider:
1. Think about what level of content you are publishing. If you are experiencing low levels of engagement or reach, it means your audience doesn’t find the content you are sharing valuable or entertaining enough to like, comment, or share.
Look back through your Facebook Insights, find your best performing posts from the last one, three or six months, and analyze them. Those now become your new baseline. Every new piece of content should be at that level, or better.
2. Consider Facebook groups. This isn’t going to work for all brands, but with groups, you do gain more visibility. It’s easier to show up in the feed and notifications. However, the challenge is that you are making a move from broadcasting to community building, which takes a lot of effort.
My suggestion would be to find some Facebook groups that you may be interested in (rock climbing, parenting, motorcycles, photography, entrepreneurship), and join as a user, and just observe to get a really good feel if this is something you would want to invest in as a business.
3. Create a dedicated Facebook budget. It will be used to boost and promote posts. This is going to be your fastest option, that requires the least amount of time… but you have to invest. Right now, the industry average is $200 – $350 per day and that may or may not work for your business depending on your budget.
One way to think about this is setting a revenue goal. Let’s say $10,000 based on Facebook activity alone. Then, decide on a percentage of that to dedicate to Facebook promotion testing. If it was 10%, that would give you a $1,000 testing budget to start with.
Facebook Promotion Resources:
- Complete Guide To Advertising on Facebook
- Implications of the Facebook newsfeed change & how to work with them
That’s all for this time, I hope you found these insights helpful.