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Social media evaluation: Facebook Some tools for managing social media. MARK 490 Week 2. facebook. Facebook. 10 years old – became a public company in 2012 At the end of Q1, April 2014 1.28 billion active users (log in once a month or more)
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Social media evaluation: FacebookSome tools for managing social media MARK 490 Week 2
Facebook • 10 years old – became a public company in 2012 • At the end of Q1, April 2014 • 1.28 billion active users (log in once a month or more) • 802 million daily users (609 million of them on mobile) • Over 1 million advertisers • Advertising revenues for the full year 2013 - $7.87 billion • Over 50% coming from mobile advertising
So, what is a marketer to do? • Marketers use Facebook for owned, earned, and paid media because…. • “Familiarity breeds acceptance.” Vaynerchuck • “Hard to dismiss a platform as skewing too young, or too experimental, or too trendy, when your niece, your brother, your seventy-two-year-old dad…are on it” Vaynerchuck
Paradoxically, it is the size of the platform that causes the problem for marketers • With that massive amount of content streaming into a users Newsfeed, it is almost impossible to get and keep attention. • Marketers need to understand how Facebook manages the Newsfeed algorithm, called Edgerank • Video from AnnaliseKaylor “Mastering FacebookEdgerank” (29 minutes)
The Edgerank algorithm tweaked to reduce organic reach • Analysis of more than 100 brand pages - organic reach was around 6 percent, a decline of 49 percent from October 2013 • For large pages with more than 500,000 Likes, organic reach hit 2 percent in February 2014 • “Organic reach of the content brands publish in Facebook is destined to hit zero. It’s only a matter of time.” • Marketers being pushed to paid media http://social.ogilvy.com/facebook-zero-considering-life-after-the-demise-of-organic-reach/
Other significant Edgerank changes aimed at reducing spam • “Likebaiting” – asking “News Feed readers to like, comment, or share the post in order to get additional distribution beyond what the post would normally receive” is now being targeted • Frequently circulated content (ie. Reposting of memes etc) • Spammy links (deceptively phrased) • Facebook is encouraging authentic conversation and relationship building not begging or bribing fans http://edgerankchecker.com/blog/2014/04/update-to-algorithm-reducing-spam/
Some tools to help you manage social media • Tweetdeck • Hootsuite (free and paid versions) • Storify • Klout (free and paid services) • Tweepi • These are just a handful of software tools that you can use for free • We will look at enterprise software for managing multiple accounts in a future class • Fun fact: among the 140 global corporations studied for the “Strategy for Managing Social Media Proliferation” report, they each have an average of 178 different social media accounts.