The three things to know about Facebook

If you are Facebook (and you should be for business- approximately 90% of your future brides are), you are no doubt ready for the upcoming timeline changes that will happen at the end of this month. I have seen many comments about timeline, whether people like that format or not. The share some thoughts with you about Facebook that may help you get past liking or not liking the new changes.
1. You are the product- not the customer. With Facebook, the way that they make money selling ads to the people who use Facebook. The people who use Facebook like you and I are the product. As Facebook is a free format for us, and we are the product, we must accept that and press forward using Facebook as such. When you’re the product you don’t get the ancillary benefits that you do as a customer. Facebook is a wonderful, wonderful creation, which has changed the way in which we communicate. I see things such as “I am leaving Facebook. In going to Google Plus”. It is my recommendation that you do not leave Facebook. Not yet. It is also my recommendation that you do get a Google plus account.
2. Change is inevitable. Can you remember back to when you first got onto Facebook? The look, feel and function of Facebook has dramatically changed over just the past three years. Guess what – it’s going to keep changing. Facebook was recently evaluated at a $100 billion value. Last year, gross receipts from Facebook were around $3 billion and the net off a that $3 billion was approximately $1 billion. In a former life I worked for a business brokerage. We would find businesses to sell and in doing so we would have to put a valuation on them. Never in my career did I ever see a valuation that was 100 times its net value. This indicates to me that once Facebook has stockholders, they will want a lot of performance from Facebook. Performance on Facebook means more advertising. More advertising means Facebook will change. You may have already seen on the login screens, advertisements. Is my view that they will start charging to advertise on the timeline cover photo. Currently, the terms of service state that no marketing message can be put on your timeline cover photo (even though many are already blatantly disregarding this). It’s only a matter of time before Facebook starts to enforce this. If and when they do enforce list is my suggestion that they will probably start to sell a premium membership. Nonetheless, things are going to change at Facebook – you can count on this.
3. b2b Facebook vs. B2C Facebook. In my world I work primarily with a business-to-business model. In your world you work primarily with a business to consumer model. When using Facebook on a business to business model, my goal is to simply warm up the lead and let people know I am here by giving great content and engaging conversation. In your business to consumer model you need to do the same. The one slight difference between B2 B and B2C on Facebook is this; on a B2 C model you cannot sell at all. On the B2 B model the rare times where you can sell is when you have a special offer to a select audience, i.e. your fans on your business page. Using Facebook in a business to consumer model in the wedding world, you need to offer them great content which is all about their wedding. Remember that this is social media and social media has been way over emphasized (in my opinion) as a way of marketing your business in the wedding world. Girls do not get engaged and say, “let’s go to Facebook to find my wedding vendors.” They go the more traditional routes (and I know I’m going to get a lot of static for this) of doing searches on Google, going to bridal shows, and picking up magazines that they find at places such as bridal shops and venues. The principle of Top of Mind Awareness is where you want to keep your business, not In Your Face obnoxiousness.
Facebook should be a tool for you to use and understanding the three principles spoken of here will help you in that strategy.
Until Next Week, Here’s to your Success!


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2 Responses to “The three things to know about Facebook”

  1. Dave Says:

    Great food for thought Rick!

  2. Anna Says:

    Very interesting indeed.

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