Topic No 1
Topic No 1
Topic No 1
(Semester – 2)
PGCM (DM)-2021
For many people around the world, Facebook is one of the most useful and ubiquitous social
media platforms for connecting with friends and family, as well as meeting new people with
common interests.
But for businesses, Facebook is not just about maintaining social connections. The social media
platform can also be a crucial marketing tool. It lets businesses reach out to their target
demographic and even get valuable insight into customer behaviour and preferences and what
can be done to entice prospects to learn more or even purchase a product or service.
All of these desirable results are contingent on getting the kind of data that can be put into useful
action. Fortunately, that is exactly the kind of data that Facebook specializes in providing to
businesses looking to market on the platform. It’s all part of Facebook analytics. But what is
this? What does it mean to you, and how can you start using it to improve your marketing and
business efforts?
What Is Facebook Analytics?
The term “analytics” itself broadly means using different tools such as mathematics, statistics,
and predictive modelling to discover patterns in raw data. In short, it finds meaning in a mess of
otherwise random information.
Facebook analytics sifts through the raw data that is generated by the platform and finds useful
patterns in that data that can be applied to marketing insight and action. In the case of Facebook,
the analytics are provided—for free—by a tool known as “Facebook Insights,” which allows
users to measure the engagement and effectiveness of their Facebook pages and marketing
efforts.
Depending on your target’s age and lifestyle demographics, Facebook may be a crucial part of a
business’s online marketing efforts. With over 1.5 billion daily active users, Facebook is still, by
far, the largest social media platform. So, enormous amounts of data are being generated both by
the users and the software that is tracking their actions. In terms of marketing, that is a huge
dataset that can provide many valuable insights, but only for people who know what to look for.
One of the most important tools that Facebook Insights provides to users, free of charge, is
showing the level of engagement with Facebook pages. Engagement is a critical metric for
measuring online marketing success.
In this context, engagement means the level at which users are interacting with your content.
How often are they leaving comments? Liking comments? Clicking on links you have embedded
and may take them to a page where they can learn more about a product or service or even make
a purchase? All of this interaction with your content is engagement, and the higher this number
is, the more your Facebook content is working and spurring people to take some kind of action.
Finding ways to raise engagement is an important strategy in Facebook marketing or any kind of
online marketing. But you are only going to know whether or not your efforts are raising
engagement if you know what that level of engagement is in the first place. Facebook analytics
can give you this vital number.
Lifestyle Data Is Strategy Dat
You know that some people are engaging with your content, but do you know exactly who those
people are? What common characteristics they have? This is another important piece of data that
Facebook analytics can give you. Demographics are about the characteristics that certain
segments of the population have.
Once you find common characteristics in the people who are engaging with your marketing or
even your product or service, commonalities make it much easier to tweak and target your
marketing for more effective results and higher engagement.
For example, you may find that your Facebook marketing is receiving a very high rate of
engagement from fathers in the New England area who have a high interest in video games. You
may not have been explicitly targeting this demographic, but now that you know you are getting
their attention, you can tailor your marketing to them, especially if you were looking to expand
your sales in the New England area anyway.
By finding out more about your demographic, you can also start to build a “persona,” compiling
a list of characteristics of your best customers—or even your desired ones—and then build
strategies to appeal to this market.
Another great feature of Facebook analytics is that it can show you “where” on Facebook your
level of engagement is occurring. In some ways, this can be a critical tool to guide your strategy
because it can show you what’s working and what’s not.
For example, you may be looking at these metrics and comparing your level of engagement on
your own Facebook page with your level of engagement through other people posting or even
the engagement through your advertising efforts on Facebook.
Analytics provides the tools you need to see where the “Likes” and other interactions are coming
from. You may notice that while engagement on Facebook is comparatively low, you are
experiencing a high level of engagement from others, perhaps even a notable influencer,
interacting with your content. That may give you some ideas for strategizing with
more influencers.
On the other hand, you may find that you’ve just started aggressively advertising on Facebook,
and when you look at where your engagement is coming from, you see that you’re getting a lot
of interaction from the ads themselves. That confirms your decision to invest in ads was a good
one, and now, you have proof because you can see exactly where the increased engagement is
coming from.
If these figures continue to rise, you should be looking at the analytics that tells you how, when,
and where negative actions are happening, in an attempt to understand why it is happening. If
you don’t know why negative actions are occurring, you are helpless to stop them from
continuing.
In some cases, it’s important to keep track of negative data as a way to ensure that users are
seeing your posts. The decline may not be your fault, but it might be due to an unanticipated
change when Facebook implements a new algorithm.
There’s simply too much data generated daily so when Facebook changes its algorithms, it can
have wide-spread consequences. That’s why it’s important to keep an eye on Facebook analytics
when such algorithmic changes are implemented, to see what kind of impact—positive or
negative—they are having on your marketing.
Final Thoughts
For certain types of digital marketing, Facebook can be an integral channel used to reach out to
the desired audience. However, the effectiveness of that marketing increases—by orders of
magnitude—for businesses that take advantage of the rich analytics provided by tools like
Facebook Insights.
Facebook for business
Advantages and disadvantages of Facebook for business
Running a Facebook business page can help your reach and connect with your existing and
potential customers. There are a number of benefits of using Facebook for businesses, as well as
some challenges.
Brand awareness: Facebook is one of the largest social media platforms in the world.
Your business' presence will help you gain exposure to potential customers.
Drive website traffic: By posting links to your website, you can help increase online
visits.
Targeted advertising: Facebook advertising allows you to target specific demographics,
based on location, age, gender and interests.
Generate business leads: Your audience of Facebook 'likes' can be a great starting point
to gather sales leads. You can use competitions and giveaways to gather email address to
build your marketing lists.
Customer service and feedback: Facebook allows two-way communication between
businesses and their customers. You can use the messaging service to deal directly with
your customers. Reviews and comments can be a great way to gather customer feedback
and find areas for improvement.
Monitor and improve: Use data from your page's 'Facebook Insights' to understand what
content works best and plan for the future.
Challenges of Facebook for business
While Facebook can deliver plenty of benefits, it is important to be aware of the potential
downsides:
Time and resources: Setting up and running a Facebook page requires a time investment.
You may need a member of staff who can take on social media duties and have enough
time to manage the page well and create engaging content.
Skills: The staff member who manages your Facebook page may need training to ensure
they have the right skills. They should be able to plan and create content, respond to
enquiries and complaints, and represent your business.
Budget: To make the most of Facebook, you will probably need to invest in paid-for
advertising. This will require its own budget.
Negative feedback: The two-way communication nature of Facebook means that unhappy
customers can voice their complaints publicly. It is important to handle these complaints
well as your response will be under scrutiny from your audience. It is not advised to
delete genuine negative comments.