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Consumers are creating content and uploading it on a variety of online media platforms. These platforms are increasingly becoming the “places” where people get together and converse. All over the world they are communicating online on social networking sites like Facebook, microblogging services like Twitter, content sharing services like YouTube and Instagram, and LinkedIn, the business and employment-oriented networking site.
The wide range of facilities and features that these sites offer, make it easy for users to expand their network, and create and share content with friends. Social is highly conducive to viral marketing; it can fuel and propagate campaigns to generate considerable buzz and awareness for a brand.
From the consumer marketers’ perspective, since this is where their consumers are hanging out, it is where they should engage with them. Most networking sites provide the means for doing so.
This chapter covers Facebook, the most widely used social platform. The chapters that follow cover other leading social sites —Twitter, YouTube, Instagram and LinkedIn.
Focussing mainly on the use of Facebook for digital marketing, this chapter dwells on organic and paid advertising on the network, and the advertising options and formats.
Facebook, the most widely used social platform, is a networking site that allows people to communicate with each other. Here are some statistics, sourced from various sites including Zephoria and Hootsuite, that reflect on the platform’s scale and diversity:
- Over 2.38 billion monthly active users (MAU) as of March 2019.
- 1.56 billion, on average, log onto Facebook daily (DAU), March 2019.
- 4.75 billion news feeds/messages shared daily, May 2013 (+94% over August 2012).
- Gender split: 56% male, 44% female.
- Key demographics: Men 18 to 34 years represent 35% of global active users (GAU), and women 18 to 34 years an additional 24%.
- Declining amongst teenagers. Only 7% of GAU aged between 13 and 17, as teens increasingly embrace YouTube, Instagram and Snapchat.
- Highest traffic occurs mid-week between 1 to 3 pm.
- Average time spent per Facebook visit is 20 minutes.
- Facebook Inc. earned USD 56B in advertising in 2018. (Facebook USD 34B, Instagram USD 14B).
- Mobile represents over 90% of Facebook’s ad revenue.
Note: To find content on MarketingMind type the acronym ‘MM’ followed by your query into the search bar. For example, if you enter ‘mm consumer analytics’ into Chrome’s search bar, relevant pages from MarketingMind will appear in Google’s result pages.
What they SHOULD TEACH at Business Schools
Marketing has changed. More so in practical terms, and marketing education is lagging.
The fundamental change lies in the application of analytics and research. Every aspect of the marketing mix can be sensed, tracked and measured.
That does not mean that marketers need to become expert statisticians. We don't need to learn to develop marketing mix models or create perceptual maps. But we should be able to understand and interpret them.
MarketingMind helps. But the real challenge lies in developing expertise in the interpretation and the application of market intelligence.
The Destiny market simulator was developed in response to this challenge. Traversing business years within days, it imparts a concentrated dose of analytics-based strategic marketing experiences.
Dare to Play
Like fighter pilots, marketers too can be trained with combat simulators that authentically reflect market realities.
But be careful. There are plenty of toys that masquerade as simulators.
Destiny is unique. It is an authentic FMCG (CPG) market simulator that accurately imitates the way consumers shop, and replicates the reports and information that marketers use at leading consumer marketing firms.
While in a classroom setting you are pitted against others, as an independent learner, you get to play against the computer. Either way you learn to implement effective marketing strategies, develop an understanding of what drives store choice and brand choice, and become proficient in the use of market knowledge and financial data for day-to-day business decisions.
