We listened to marketers of the world’s biggest brands when they asked, “What’s the impact of Facebook on my brand?” and we decided to take a look for ourselves. We proudly present our latest research, “The Facebook Factor.” In the report, we answer the pressing question, “How much more likely are Facebook fans to purchase, consider, and recommend brands, compared with non-fans?” We used logistic regression modeling to find out. The impact? We call it the “Facebook factor,” and I urge you to read the report to find out how you can leverage our methodology to assess the Facebook factor for your brand.
In the report, we use four major brands as case studies to assess the Facebook factor for Coca-Cola, Walmart, Best Buy, and BlackBerry(Research In Motion [RIM]). Guess what? Facebook fans are much more likely to purchase, consider, and recommend the brands that they engage with on Facebook than non-fans. As the graphic below shows, Facebook fans of Best Buy are about twice as likely to purchase from and recommend Best Buy as non-fans.
I am embarrassed to admit that I have lived in the California Bay Area for 18 years and have yet to venture outside of the Los Angeles airport. Some have told me that I "am not missing much," yet others are surprised...as if one is never truly a "Californian" unless you have been to LA for a visit. Well...this year will be my first official visit "in" LA...and excited that the reason for breaking my 18-year streak is Forrester's 2012 Marketing Leadership Forum! My Tech Marketing (i.e., "Travis Martin") colleagues and I have a very energetic, interactive, and fun session in store for you. Join us to learn how to improve your marketing strategies by using "journey marketing" to engage with your customers. Peter Burris and Chris Kelley will kick off our TM track session on April 18 with "Driving Revenue With Journey Marketing." I will follow Chris and Peter with "Getting From Good To Great: How To Create A Winning Social Marketing Strategy." On day two, Lori Wizdo is presenting: "Engage Customers With Lead Nurturing" and Peter O'Neill and Tim Harmon close our TM track session with "Marketing To Customer Value."
I've been hopscotching Europe this week, seeing clients and colleagues in London and Istanbul — but my thoughts have been in Los Angeles, where in a couple of weeks I'll be giving a speech called "Taking Social Media From Cool To Critical" at the 2012 Forrester Marketing Leadership Forum.
I chose that topic because it’s a concern I hear almost every day — and sure enough, I heard it from several clients on my travels this week. "We’ve put time and resources into social media marketing, because it seemed like we had to, but . . . it’s just not having much of a business impact." By comparison, four or five years into the era of search marketing, most companies were making a killing from their SEM programs. The same goes for email marketing. But here we are four or five years into the era of social media marketing — and for many companies, social media is still a curiosity, a sideshow that attracts lots of interest but adds little value. It's still cool, but at most firms, it's just not a critical part of the marketing plan.
I think the main reason marketers still struggle to make social pay is simple: They overestimate social media as a marketing tool. Let me be clear: I'm not bashing social's value for marketing; social media can have an enormous impact on the success of your marketing programs, as we’ve seen time and time again. The point I'm making is that it can’t create that success all on its own. You need to use it as merely one tool in your marketing tool kit.
Forrester fields hundreds of client inquiries each year on the topic of social business and collaboration. And the trend doesn't appear to be slowing. Often the first question is, "How far behind are we?" Well here's the data. You judge for yourself. According to Forrester survey data from 1,332 executives and IT decision-makers:
49% will have investments in social networking solutions in 2012.
I (Lori Wizdo) have just put the finishing touches on the content for tomorrow's (Wednesday, March 28 at 10am PT/1pm ET) interactive webinar, Socialize Your Lead To Revenue Process. B2B marketers (even tech marketers) are not sure their buyers are really engaged in social media for business purpose. We'll see Forrester research that proves they are. We'll discuss how social marketing can address the issues I am hearing, over and over again, in client inquiries:
"How can we increase inbound?".... "How can we increase conversions?" ... "How can we shorten nurturing cycles?" And, most importantly, "Is social worth it?"
Despite the doubts and uncertainties, tech marketers plan to increase spending on social media for L2RM in 2012: 43% plan to increase social media spend for lead origination; 41% for lead nurturing. Tomorrow's webinar hopes to give some very pragmatic advice to help you jumpstart or scale-up your social marketing program.
In 2009, we started the Latin American Technographics® product to understand how emerging Latin American markets like Brazil and Mexico are adopting and using technology. During this time, we have seen some very cool findings with respect to social media and social tools. We found that:
Are you thinking about SoLoMo yet? My clients definitely are, and I haven’t been surprised by the number of questions I’m getting about it considering that 86% of US online adults engage in social media and 2/3 of online Generation Y fall into the SuperConnected category of Mobile Technographics®. But what does SoLoMo really mean?
It’s a concept that brings together social, local, and mobile media — and it’s intriguing to marketers because incorporating social engagement, local targeting, and the mobile customer into a single program seems like it should lead to especially creative and effective engagement. But I’ve been researching this topic over the past couple of months and I have a couple of concerns:
First, the way we talk about SoLoMo puts too much focus on the technology and easily lets marketers slip back into technology-first strategies driven by trends rather than audience insights.
Second, SoLoMo programs often take the form of a check-in offer today. This can certainly be an effective marketing tactic for retailers and brands with brick-and-mortar presences. But isn't there something SoLoMo can offer other brands?
The word is that promise of sCommerce (social commerce) and fCommerce (Facebook commerce) is more speculative than proven. What about the role of social media in government and governance? Mayors, other city leaders, and local organizations increasingly communicate and interact with their constituents via social media.
I don’t know about you, but my head is spinning from all of the articles and editorials about Google’s incorporation of Google+ content and other personalized search results. While there’s lots of conversation about whether the changes are good or bad for Google and the future of search, whether Google is opening themselves up to more anti-trust investigation, and whether Google was simply too late to the social media game to make a difference, I’m going to leave those arguments to others. I’m more interested in the potential opportunities and challenges for marketers that this integration of search and social presents.
It may give marketers an additional metric to track for social media. Google will be surfacing your brand’s Google+ social content directly into personalized results, for consumers who’ve added you to their circles. These search results may also include content that a consumer’s friends posted about you. That means qualified clicks on your social content—and that means possibly tracking how much search traffic you generate to your own sites through social marketing.