Archive for September, 2013

The Significance of Facebook Brand Fans

Monday, September 16th, 2013

imageWell, there is no set idea to place a value on a single Facebook Fan. It totally depends; as all fans differ in their worth and the way a brand builds engagement on the page determines the potency of a fan. There are different categories that help in analyzing the effectiveness of a fan, who basically turn out to be either influencers, purchasers or the engaged ones. The value (in actual terms) of a brand’s fan base totally depends on how much that brand cares about its customers and followers. Therefore, one must consistently analyze how ‘FAN’tastic is their brand on social media.

When we are talking about Facebook Fans, one most important fact is that all fans are not equal and also that every brand should not turn to Facebook to acquire their business. For brand marketers, who plan to invest into the social media strategy for their brands, analysis of their return on investment and value of a fan is essential.

There are a set of equations we need to highlight when going further with analyzing the value of a fan.

Firstly, the value of Facebook fan depends mostly on your objectives in turn sustained by significant resources to help your brand page gain traction.
The cost of acquisition of a fan is not something on which the value of a fan is based upon. Infact, how clearly you align the value of the brand with the fan’s values determines the same.
Right content delivered by your brand page at the right time will foster amazing engagement.
Finally, be stable, consistent and regular in terms of building engagement with fans. This will help you extract the best value out of a fan over time.

imageTherefore, the value that one can put on a Fan will depend on a brand’s objectives, the context and the willingness to build engagement on a long term basis.
Well, brand marketers need to stop and analyse the objective of the same. This helps them generate awareness of themselves and their brand services. Brand marketers need to keep a tap of how much value, sales, awareness & loyalty gets generated as a result of increasing their brand’s Facebook community or fans.


Source: the Myndset, Yopps, Brand Talking

Are you thinking about the best ways to get Facebook Fans? Here are some:

  • · Turn fans into friends
  • · Re-post their content; give them a shout out for their work
  • · Take fans behind the scenes
  • · Don’t just post and leave, return and follow up, update them
  • · If you got a news fans can use it, share it
  • · Get input from them, post a link to your story and ask a question
  • · Listen – let your fans guide you to great stories

Facebook Brand Fans are more likely to be the users of that brand; spend more than non-fans, are loyal, and recommend your brand. In order to determine & understand the credibility and value of a Facebook fan there are certain things that need to be done.

One can do this by:

  • · Measuring the rise in unaided awareness
  • · Recommendations received
  • · Frequency of purchase
  • · Customer service cost savings
  • · Clicks, lead generation
  • · Lifetime customer value

· Coupon redemptions etc. as a result of exposure to and interaction resulted from regular posts/content on brand’s Facebook page.

imageFacebook fans indeed hold a great value from the strategic perspective of a brand. They are undoubtedly as important as the economic goals too. Brand marketers therefore, need to focus on analyzing the fact that are the actions in the right direction in terms of driving fans or target to the brand page. Finally, what matters in measuring the value, is quality. Yes, Quality does matter- quality of the fans, quality of brand engagement with the fans, quality of conversion & attribution.

 

Check out this statistical report of Fans telling what has motivated them to like a company, brand, or association on Facebook is as shown below:

image  image
Source:
www.inventhelp.com

Click here to check a report on how the ‘Average Value of a Facebook Brand Fan Increases 28%’ recently!

The ROI will bear amazing results when the brand focuses on providing long term value to its fans and build deeper engagement levels with them. This can somewhere in near future raise the cost of acquisition and at the same time retention of fans on Facebook. But compared to the value a brand will acquire, it’s more like a reward for the brand. What do you think the brands need to do? Is it just creating a value added experience for Facebook fans or something more? Do share in your thoughts.

Bloggerati of the Fortnight: Arun Prabhudesai

Monday, September 16th, 2013

003baecBloggerati of the Fortnight

Current Position and Organization:
Enhance Education,
Trak.in (Armoks Interactive)
Blog Name: trak.in

 

Arun Prabhudesai is an Entrepreneur, Blogger, CEO, Photographer, Thinker and popularly also known as the Jack of many trades. He is an avid internet geek and his interest in the IT & technology world inspired him to come up with his blog trak.in which commenced in May, 2007. He started this Blog to keep himself and people updated with the latest trends of Indian Business and buzz associated with startups. Technology and Web 2.0 are also an important part of his blog.

Arun is very passionate about entrepreneurship, business trends and Indian start ups. He also holds interests in the field of Politics, finance, stock markets & technology.

In his Blog, Trak.in, Arun talks about Blogging, Entrepreneurship, Emerging Internet and Web technologies, Web Development , Web 2.0, Online Publishing & Advertising, Start-ups, Business Analysis, Collaboration, E-Learning, , Social Media consulting & WordPress. Trak.in started as a blog and has now become a multi-authored, more diverse and opinion site.

Arun makes sure to maintain a good quality content on Trak.in, which helps him get traffic to his blog too. According to him, Social Media applications like Twitter & Facebook also send good amount of traffic to his blog, therefore, presence on social Media space does help. He maintains regular interaction with his readers and other bloggers on his blog and reflects innovation in everything he blogs about.

Arun believes in producing quality content in his blog and suggests the same to the readers and beginners. He believes that in giving value to the community on social media and not just opening a Facebook page. Online monitoring and reputation on social media, according to him is very crucial for bloggers and they should keep a track of what people are talking about them online. Arun says that, “Conversations have moved out from blogs to social media and you can’t ignore them anymore.” And for beginners in the blogging filed he suggests, “If you want to start a blog, be patient; write consistently and passionately.”

Trak.in had also gained recognition at a few places like:

Times Online picked Trakin as one of the Top 10 Indian Business Blogs.
Trakin
was a part of India Blogs1.0 directory of Popular and Upcoming Indian Blogs.
Trakin was featured in Times of India special report on Blogging completing 10 years

The topics like technology, web, latest business trends, brands and tech trends that he encapsulates in his blog everytime for his readers & professionals across, entitles him to be our Blogger of the Fortnight.

Click here to read more about our Blogger of the Fortnight series.

Facebook Contests, Deals & Events on for Engagement

Monday, September 2nd, 2013

facebook-fan-engagement1One of the best ways to keep the interest of your customers in your Facebook page is through contests, events or deals. We all know that the most common and attractive word that attracts people these days is ‘Free’. Yes, and the more engaged your people are, the more they will keep coming back to you. There are a lot of ways to increase fan engagement for your brand, but where Facebook contests are concerned, these have been a great success provider to every brand which has tried it.

 

So next time you think of engaging with your fan base you can stick to simply tweeting, connecting on Facebook, replying and posting things or you can decide to step up and engage your fans through Facebook contests.

In a nutshell, Facebook contests:

  • – Increase the likes of your page
  • – Lead to higher engagement
  • – Increase the Edgerank of the Facebook page

Once you have planned to go ahead with this idea of adding a silver lining to your presence on Facebook get a clear understanding of your audience first. In order to resonate with them, find out what they are talking about, what they do on Facebook or what they clicked.

Deals on Facebook

facebook-deals-ukWell, guess you already own a brand page and there are customers across who love your brand too. But how do you excite them? What about the deals? Yes of course, the Facebook deals. Obviously brand managers would have tried it on their brand’s Facebook page. But, did you try something extraordinary to grab all the eyeballs to your brand on Facebook? Its simple and yet very effective. What you could offer for the real time engagement is maybe a free download of your eBook, a discount shopping coupon, some audio or video downloads or simply an access to exclusive area or location for only members.

Something interesting like a fan-only reveal code offered by brands is one of the best and most effective deals on Facebook. It involves rewarding fans for ‘liking’ a brand page and where brands can offer something exciting in return. Quick tip for a quick start: To start or set up a Deal, just click ‘edit page’ box in the top right corner of your brand’s Facebook page and then click ‘Deals’ in the list of tabs on the left. Even discount codes or coupons can be used to drive the traffic on Facebook to your brand’s website in order to let them know more about your latest offers and services.

ITC Hotels has frequent offers for its fans on Facebook.

ITC hotels offers ITC hotels offers 2

Facebook Contests

With almost an array of engagement activities happening on Facebook by brands across the globe, another thing which is at peak is Contests.

Executing contests on Facebook is one of the powerful ways to increase & spread brand awareness and create an overall buzz. Not only this, the long term benefit is the customer loyalty that is built through customer recognitions and gratifications. A generic contest by a brand might include trivia questions about the indclip_image010ustry/market, submitting designs or anything related to art, inviting opinions about the product or maybe just posting pictures and asking fans to guess, name or caption it.  However, Facebook does enforce certain rules for the same but contests do hold credibility for the entire brand that goes ahead with it. A contest cannot be made conditional on just posting a comment, photo, a status update or maybe just by liking a wall post. Omron India also held a Facebook contest ‘Inspiring Tomorrow’ to promote the spirit associated with the Bollywood film ‘Bhaag Milkha Bhaag’.

omron contest omron

Facebook Events

It is indeed a great way to grow or increase attendance and reach new audiences. Are you as a brand thinking of planning a life or a sale event? Then its very essential to know that events can be set up in three ways: Open, Closed & Secret.

  • Open events can be seen and RSVP’d by everyone. These Events can be entertainment events, sales or grand openings.
  • Closed events can be seen by everyone, the details also can be viewed by everyone but only the guests who are invited can do RSVP to that particular event. For example, entertainment, fans-only sales, classes etc.
  • Secret Events are only visible to the guests that are invited and are not visible to anybody else. Not even RSVP ones. These events are mostly employee training events or meet-ups.

When brands set up an event, the event gets its own wall. What is important is to turn on the event wall for all as the guests would want to comment on the event, share, express their excitement about the same and even ask questions etc. Gaining fans through events is a great advantage. To increase the brand awareness, closed events can be used more effectively, wherein those invited are allowed to invite their friends too. A lot of fans invite their friends leading to more engagement.

clip_image016

Quick tip for a quick start: To establish an Event, click ‘edit page’ box in the top right corner page & click ‘apps’ in the list of tabs on the left. You will see ‘events’ in the list. Then click ‘go to app’ and create an event.

Here’s an example of a Facebook Event by ITC Classmate that garnered a lot of people to the page and was appreciated by the masses.

Classmate event

Sources: mashable.com, allfacebook.com, socialmediaexaminer.com, pagemodo, socialized.me

Contests, we bet have always been and will be enticing a lot of fans to your page through conversations and feedback. With a simple understanding of what your fans identify with, responding them and gratifying them you will end them waiting to hear from you again. So, are you ready to tap this amazing tool to drive traffic to your page? Share your thoughts.

Bloggerati of the Fortnight: Nilanjana Roy

Monday, September 2nd, 2013

imageBloggerati of the Fortnight

Current Position and Organization:
Columnist at Business Standard
Educational Background:
La Martiniere, Kolkata
St Stephens, Delhi University
Blog Name:  Akhond of Swat

Nilanjana Roy is the author of the book ‘The Wildings’ & ‘The Hundred Names of Darkness’ and the editor of ‘A Matter of Taste’. Currently, she writes a regular column for Business Standard and lives in Delhi. She is a writer, author, reader and a cat-herder. She started blogging almost a decade ago and previously wrote a blog called Kitabkhana under the pseudonym Hurree Babu. Her blog Akhond of Swat is an amazing collection of a variety of life’s happenings, books, wildlife, food, journalism, literature and fiction to mention a few.

Nilanjana’s unparalleled style of blogging is known and appreciated across the nation. She has also worked extensively on free speech and censorship issues in India. Her blog also showcases her interests in various subjects and happenings of life.

One cannot avoid having a look at her website nilanjanaroy.com which encapsulates her finest thoughts and writings. Beautiful portrayal of thoughts and words, she had put in amazing efforts to add a silver lining to her writing and blogging skill.

The topics like life, books, wildlife, journalism, literature, trends in writing and blogging that she encapsulates in her blog everytime for her readers & professionals across, entitles her to be our Blogger of the Fortnight.

Click here to read more about our Blogger of the Fortnight series.