SOCIAL MEDIA / DEC. 10, 2014
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What the New Facebook Update Means for Your Business

Half of the business day seems to revolve around obtaining new clients. Marketing campaigns, email blitzes, phone calls… All of which are time consuming and potentially expensive. For some time, it has been possible to utilize Facebook to push a product or service, without having to spend much time and no hard cash.

This helped numerous companies get off the ground, and provided a new avenue for more established firms to reach out to a younger audience. However, Facebook is a for profit entity that needs to maximize revenue through all available streams. That means it has sought out a way to charge companies for the privilege of using its service to reach out to consumers. Here are some of the ways that this policy change will impact how you utilize this service.

Unpaid Advertisements Will Be Pushed Back

The new algorithm is designed to emphasize content over product placement. This is meant to help make the service more friendly to end users, and nudge companies into paying for dedicated advertisements located elsewhere on the site.

In practice, this means if you wish to still have your company mentioned for free, you need to concentrate on matters that the reader will actually wish to know. Instead of saying, “Fifty Percent Off Candy Corn,” say “Nice uses for candy corn after the holidays.” This will attract more readers, and allow you to slip in the advertisement on the side.

Paid Advertisements Will Receive Better Positions

Facebook’s main profit stream is the data it collects on its users. This is sold directly to advertising firms, which reach out to these people through a variety of means. One of the most popular formats are advertisements located on the page itself.

Direct advertisements enables you to reach out to those most likely to utilize your product or service. It might costs more than the zero you were paying to begin with, but you will receive greater market awareness as a result.

Concentrate on What Customers Want to Know

Social Media serves as more than a marketing platform. The new algorithms are designed to return Facebook back to its earliest days, where it served merely as a platform for people to gather and talk. Use this service as a means to reach out to consumers, and figure out what will and will not work with your products.

Consider the site a free customer messaging board, and reap the benefits that having constant access to your customer base provides. You no longer have to wait for sales reports to come in, or for people to return survey cards. Now, you just post a question and wait as the replies roll in, in real time. This translates to you having the ability to adjust production and sales to meet ongoing market conditions in the matter of minutes, rather than days or weeks.

Additionally, companies that build positive community relations will engender a greater tolerance for the mistakes and mishaps that strike all companies. Building a successful rapport with as many people as possible can be the greatest, and cheapest, business insurance plan you can obtain. 

Do not view the change in policy as a challenge. View it as a possibility, to both better align your marketing strategy and build a strong public relations platform. Concentrate on producing quality material that your clients will want to read, and allow them to discover your products naturally.

By using the paid advertising features, you will reach out to likely consumers without having to friend them first. This removes a great obstacle many businesses face. 

 

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