Marketing Facebook

1-The lead-in to this chapter discusses the success of Facebook and how the company is changing the way brands communicate with consumers. Discuss the various ways Facebook is impacting the marketing industry, and why marketers are so responsive to its offers such as Social Ads, Pages and “Likes.” How might Facebook affect the future of advertising and marketing businesses?

Social media has risen to the forefront of both the online and offline worlds. It is a trend that profoundly affects how marketers strategically interact with consumers. Since late 2006, when Facebook removed its student-only membership restriction to allow anyone to join its network, the site has become the sixth mosttrafficked Web site in the world (Facebook Statistics, 2008).

What is social media?

Social media is “the use of electronic and Internet tools for the purpose of sharing and discussing information and experiences with other human beings in more efficient ways”.

Who is on social media sites?

Different social media sites appeal to specific demographics, such as age and gender, due to their features. Teenagers will still be the earlyadopters online because they have more time and less money than their adult counterparts and social network sites are free. Facebook has more 18 to 24-year-old visitors. Along with demographic differences, usage habits also vary greatly on different sites. Twelve percent of Facebook users visit the site more than 30 times a month. Developing relevant social media marketing campaigns requires marketers to understand the differences in the user mix of each site.

One of the impacted aspectd of marketing is Reduce the overall marketing expenses. The only financial cost of facebook marketing is the time it takes to gain success. However, a significant percent of participants strongly agreed that overall marketing costs dropped when facebook marketing was implemented. Sole proprietors were more likely than others to see reductions in marketing costs...