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The Facebook Conundrum - Does Facebook Make Money?

The Facebook Conundrum - Does Facebook Make Money? | BI Revolution | Scoop.it

The Facebook ROI Mystery
This post combines several recent infographics one from my friend Bill Ross  @LinchpinSEO and another from @JeffBullas to ask a simple yet complex question. Does Facebook make money. 

I hate answering questions in the negative, but I can't see other way to answer this one. I called on a piece I wrote over a year ago - Social Media Marketing The Most Important ROI ( http://www.atlanticbt.com/blog/social-media-marketing-the-most-valuable-roi/) to answer in the negative. 

What if you DON'T create ROI losing social media marketing? The answer to that question is PAIN and then more PAIN. Even if you've failed 100 times my advice is to fail 100 more times, and to reframe your #SMM discussion. 

Ways to Reframe Your SMM ROI Thinking

  • Don't require same ROI from Social as from everything else (go easier).
  • Don't spend less than 10% of your marketing budget on social media.
  • Be generous with conversion funnel attribution (very generous). 
  • Don't look for Stimulus - Response curves in social. 
  • Invest in social for our FUTURE even if you FAIL now. 
  • Failing just means you need to test more. 
  • Contests and Games, Games and Contests


Facebook and Social Media Marketing may be a mystery wrapped in an enigma, but stay the course. Keep at it even if it means failiing miserably 100 more times :). 

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INFOGRAPHIC: Are Teens Tired Of Facebook? - AllFacebook

INFOGRAPHIC: Are Teens Tired Of Facebook? - AllFacebook | BI Revolution | Scoop.it
One of the main topics concerning Facebook now is whether or not teenagers are getting tired of the site, or are avoiding the social network completely because it's not cool.

Via Christine Harris-Smyth
Martin (Marty) Smith's insight:

Are teens tired of Facebook? A: Yes. Much less cool once mom and dad are on there too.

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Facebook's Real ROI Secret? Fan Page Demographics and #BI

Facebook's Real ROI Secret? Fan Page Demographics and #BI | BI Revolution | Scoop.it
How much do you know about the people who like your Page, are reached with your content and create your stories? Here's how to monitor it...
Martin (Marty) Smith's insight:

Friendship Marketing
Not long after the Facebook IPO I saw an interesting article asserting that Facebook may hit its stride as a Business Intelligence (#BI) tool. I agree, that much intimate data is calling out for someone to figure out how to use it. 

I've also always felt like Facebook's failure, as a marketing tool is at least partially on us we lucky few Internet marketers. We can’t bold our old ways onto this new way.

I don't buy that Facebook is inherently social and so we will never form financial relationships there. I think we will form deep financial relationships and know our life's vendors as we've never known P&G or even M&M/Mars (I've worked for both).  

 

Not too long ago I wrote about how when it is easy to find GREAT companies thanks to a connected, social and mobile economy we buy from those we LOVE. 

We can fall out of LOVE when those we love don't love us back. I'm battling State Farm right now after my TV was stolen and, as I wrote the other day, it feels like my TV has been stolen twice: (http://scenttrail.blogspot.com/2013/04/5-tips-to-avoid-epic-customer-service.html). After more than ten years and over $20,000 I am going to walk because I don't feel loved.  

 

Social media in general and Facebook in particular will be how we form and maintain relationships as we walk into a future of infinite choice where hearts and minds must be won with every action and equal and opposite reaction. 

 

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