Our recent report on why Facebook is failing marketers has caused quite a bit of conversation — with some supporting our findings and others disputing them — and we think that’s healthy. We fully stand behind our data and our conclusions, and we welcome the chance to further discuss what’s working and what’s not working in social media. Conversations like these can only push the industry forward and help all social marketers and sites become more successful.
In particular, we wanted to address a few common questions people are asking about our research:
Facebook’s score didn’t look that low. Are they really failing marketers? Facebook offers marketers access to the largest audience in media history and it knows a remarkable amount about each of its users and their affinities. By all rights, Facebook should be driving significantly more value for marketers than other sites and channels — but according to our survey, they’re not. Forrester’s Data Center of Excellence has looked at this data many different times, through many different lenses, and every view of the data supports this conclusion.
I know this statement sounds remarkable, perhaps even unbelievable. After all, you offer marketers access to the largest audience in media history and you know a remarkable amount about each of your users. As a result nearly every large company now markets on Facebook. Last year your company collected more than $4 billion in advertising revenues.
But while lots of marketers spend lots of money on Facebook today, relatively few find success. In August, Forrester surveyed 395 marketers and eBusiness executives at large companies across the US, Canada and the UK — and these executives told us that Facebook creates less business value than any other digital marketing opportunity.
Why are business leaders less satisfied with Facebook than with any other digital tool? We believe there are two reasons.
First, your company focuses too little on the thing marketers want most: driving genuine engagement between companies and their customers. Your sales materials tease marketers with the promise that you’ll help them create such connections. But in reality, you rarely do. Everyone who clicks the like button on a brand’s Facebook page volunteers to receive that brand’s messages — but on average, you only show each brand’s posts to 16% of its fans. And while your company upgrades its advertising tools and offerings monthly or more, you’ve done little in the past 18 months to improve your unloved branded page format or the tools that marketers use to manage and measure those pages.
You know by now that studying your audience's social behaviors is the first step in building a great social strategy. But most models for evaluating audiences’ social usage simply tell marketers how much their customers are using social -- rather than examining how commercial those social behaviors are, or what marketers should do in response to those behaviors.
To succeed in social media, we think you should map your audience's behavior to the customer life cycle. Why? Find out in our video below:
This week, our team finished judging the 2013 Forrester Groundswell Awards and notified the winners. If your entry was selected as a winner in any of our 11 B2C, B2B, or B2E categories, you've heard from us by now.
If not, I want to still thank you for entering this year's awards. We know the time and effort that companies put into their entries -- and we want you to know that gave every submission full consideration. We received more than 140 entries this year -- including many of excellent quality -- and it was often hard to choose the best in each category. You made the judges' job difficult, and for that we applaud you.
Want to know who won this year's awards? Stay tuned: We'll be announcing the awards both on this blog and at our 2013 Forrester eBusiness Forum on November 5.
We firmly believe that the first step in building a successful social program is to understand your audience’s social behaviors and preferences.
Since 2007, Forrester’s Social Technographics® ladder has helped marketers understand how social their audiences are, and in which social behaviors those audiences engage. But social media adoption has matured, and today the vast majority of online users engage with social tools. For marketers, the question is no longer whether their customers use social media, but rather how best to use social media to interact with those customers.
So we decided it was time to develop a new framework to help marketers analyze people’s evolving social behaviors and benefit from this evolution. Today, Forrester is introducing a new model — called the Social Technographics Score — that:
Focuses on commercial social behaviors. Many surveys reveal the social behaviors in which audiences engage but make no distinction between peoples’ social interactions with friends and their social interactions with companies. In contrast, our new Social Technographics Score is based on how audiences interact with and talk about companies, brands, and products.
Helps marketers choose among social strategies. Most models for evaluating audiences’ social usage tell marketers about their customers’ behaviors but don’t tell marketers what to do in response to those behaviors. In contrast, our new Social Technographics Score measures where in the customer life cycle audiences are most likely to use social tools.