The like economy : how businesses make money with Facebook

Introduction     1 Chapter 1  The Like Effect: The Power of Positive Marketing     3 Likes Decrease Costs and Increase Profits     4 Likes Increase Sales     5 Likes Give You Control of the Customer Conversation     5 Likes Prove People Are Paying Attention     6 Likes Solidify Loyalty     7 Likes Create Evangelistic Customers     8 There’s No Dislike Button     8 Can You Do Fear-Based Marketing on Facebook?     9 Google “Likes” the Like Button     10 Facebook Is About Passions and Interests     10 How Often Do Facebookers Like Things?     11 Facebook Users Are More Trusting     12 Facebook Groups: Off-the-Charts Positivity     12 Facebook Page Brag Boards     13 Easy Testimonials     14 Emotions on Facebook Are Contagious     14 Gross National Happiness     15 Chapter 2  You Can’t Tell a Facebook by its Cover: The Case for Facebook Marketing     17 Why Facebook Marketing Is So Important     19    Facebook Is the Biggest Thing Since Google and Might Be Bigger Than Google      19    The Facebook Ad Platform Is the Most Powerful Marketing Tool in History      21    Google Dooms You to Price Wars, Whereas Facebook Creates Loyalty and Increases Your Value     21    Are Facebook Fans the New Email Subscribers?     22    Facebook Is Heir to the Browsing Empire Yahoo! Lost     22 Myths and Misconceptions About Facebook for Business     23    Social Media Users Don’t Buy Products     24    Social Media Users Don’t Buy Soon Enough and the Sales Cycle Is Too Long     28    Twitter Is the Only Social Media Channel Worth Using?     30    Facebook Is Just for College Students/Kids?     33    People Don’t Click On Ads?     35    Who Harbors These Misconceptions and Why?     36 Some Businesses Profit on Facebook, and Some Don’t     36    Common Mistakes     37    Success Stories     37    Here’s What Facebook Marketing Successes and Failures Do Differently     38 Facebook’s Strengths: Advantages for Your Business     38 Chapter 3  FaceFirst: How Facebook Fits into Your Business and Other Marketing Efforts     41 How Is Social Media Supposedly Changing Business?     42    Conversation     42    Transparency, Honesty, and Trust     44    Availability and Responsiveness     45    Marketing     46 Evaluating Social Media Experts     47 What Businesses That Profit from Facebook Do     48    Can Facebook Change Your Business?     48    How Can Facebook Fit In to Businesses in Different Ways?    48 How Do You Synch Up Your Other Marketing Efforts with Your Facebook Campaigns?     49    Facebook + Print, Web, and Email     49    Facebook + Google Marketing     50    Facebook + PR     51    Facebook + Email Marketing    51    Facebook + TV     52    Facebook for Radio Station Promotion     52 Chapter 4  FaceBucks: Five Ways Businesses Achieve Profits with Facebook     55 How Facebook Advertising Helps All Five Revenue Models     56    Reaching Potential Buyers     56    Positive Alignment     57    Cheap Clicks, Cheap Fans, and Profits    57 Should You Try Facebook Marketing Without Fans First?     58 Five Facebook Revenue Strategies     59    Strategy #1: Advertising Direct to e-Commerce     59    Strategy #2: Advertising and Email Marketing     60    Strategy #3: Fan Marketing for e-Commerce     64    Strategy #4: Fans for Blogging and Advertising Revenue     66    Strategy #5: Fans and Affiliate Marketing     68 Chapter 5  How Not to Fall on Your Face: Eight Mistakes That Block Facebook Profitability     71 1. Is Your Business Viable Online? Is Profitability Likely?     72    The New Online Business     72    The Successful Online Business Now Testing Facebook Marketing     76    Figuring Out Facebook Marketing Profitability     77 2. Do You Have the Facts? Are You Looking at Them?     78 3. Are You Making It Easy for Them to Buy?      78    The 1% Rule: Only 1% Of People Will Do What You Ask Them to Do Online     79    The Effect of the 1% Rule on Internet Sales Processes     80 4. Are You Making Them Care?     80    Why Should They Care?     80    WIIFM?     81    Incentives     81 Facebook-Specific Landing Pages on Your Website     82 5. Do You Have the Right Fans?     82 6. Are You Reaching Enough of Them?     83 7. Are You Reaching Them Repeatedly?     84 8. Are You Warming Them Up?     85    Start with Generosity     85    Warming It Up on the Web     85    Warming It Up on Facebook     86 Chapter 6  Facing the Facts: How to Continuously Get Better Results with the Five Steps of Optimization     87 How Digital Marketing Is Shifting Marketing Cultures     88 The Five Steps of Optimization     88 Step One: Establish One Clear Goal     92    Facebook Marketing Goals     92    Prioritizing Goals and Reconciling Conflicts     93 Step Two: Quantify the Goal with a Key Metric     94    Balancing Metrics     95    Estimating the Likelihood of Success     96    Tracking     96    Facebook Marketing Metrics     96 Step Three: Look at Where You’re Starting     98    Resources     98    Obstacles     98    Capabilities     100 Step Four: Choose Tactics to Test     100    Ad Copy Tests     100    Ad Image Tests     101    Facebook Post Tests     101    Testing Post Types     102    Landing Pages     103 Step Five: Optimize Based on Results     103 Chapter 7  Selling the Dream: Going Beyond Benefits to Arouse Your Fans’ Desire for What You Offer     105 Cure the “Me Me Me” Epidemic     106    Use Your Customer’s Language     106    Who Is Your Customer?     107    Why You Are Never the Best Example of Your Target Customer     109    Don’t Get Obsessed with Art     109    Measure Results and Adjust Your Course to Improve     110    Facebook Is Their Playground, Not Yours     110 Do Pushy Sales Messages Turn People Off?     111    Facebook Is Like a Conference: How Do You Sell at a Conference?     111 Sales Is a Journey of Four Steps     112    What Is AIDA?     112    “Hot Donuts Now”     112    “I’m on a Horse”     113    Social Media Selling Is So Romantic     113    How AIDA Works on Facebook     114 How to “Sell the Dream”     115    The Desire Phase Is Critical in Fan Marketing     115    The Features Versus the Benefits     115    The Benefits Versus the Customer’s Dream     116    Examples of Selling the Dream     117    12 Things People Dream About     119    How to Figure Out Your Customer’s Dream     120    How to Get Fans Thinking and Talking About the Dream     121 Chapter 8  Putting Your Best Face Forward: Setting Up Your Facebook Page to Get More Fans and Sales     123 Pages, Groups, and Profiles: The Mad, Mad World of Facebook     124    Other Facebook Opportunities     128    Can You Market with a Personal Profile?     128    What’s Better, Pages or Groups?     128    Understanding Admins for Pages and Groups     130    How Do Pages and Groups Work Together?     131    Why Are Facebook Groups So Powerful?     132    Critical Mistakes to Avoid in Page Setup     133    What to Put in Your Page’s Cover Photo     133    How to Get a Vanity URL (Username)     134 Are Custom Tabs Overhyped?     134    Most People Never See Your Tabs     135    Why Most People Will Never See Your Tabs     135 Chapter 9  The Face of Advertising: How to Capitalize on the Most Powerful Marketing Tool     137 Why Facebook Advertising Is Critically Important     138    Comparing Google Search Marketing with Facebook Marketing     139    How Ready Are They to Buy Now?     139    Cost of Permission Marketing     139    Facebook Ads for Different-Sized Businesses     140    Mistakes and Misconceptions     141 How to Do Facebook Advertising     142    1. Analyze Your Business and Customers     143    2. Target Your Audiences     145    3. Create Your Advertisements     150    4. Optimizing Your Campaigns and Ads     162 Advertising to Existing Fans     169 How to Be a (Boring) Rock Star for Just $30 per Month     170 Chapter 10  FaceHook: Capturing Qualified Prospects as Fans and Group Members     173 Why Fan Marketing Can Be So Profitable     174    Paid Media Versus Owned Media on Google     174    Paid Media Versus Owned Media on Facebook     174 Unwise Ways to Get Fans     176    The Contest and Giveaway Trap     176    Buying Fans from Companies That Get Fans for You     177 Marketing 101: Targeting and Return on Investment     177 Wrong Fans? Bad Return on Investment     178 A Few Fan Growth Campaign Case Studies     180 How to Get Low Cost, Targeted Fans     182    The Best Ad Settings for Affordable Fan Acquisition     183    Target-Ad Consistency: Tightly Grouping Targets with Image and Message     183    An Alternative Targeting Approach     184    No-Brainer Marketing: Simplicity Gets Results     184    Ad Copy Formulas     185    Ad Copy Grammar, Punctuation, and Capitalization     185    How to Choose Images for Fan Acquisition Ads     185    The Key Metric for Fan Generation and How to Find It     186 Notes on Business-to-Business Fan Acquisition     190    Business-to-Business Fan Generation Advertising Tips     190 Chapter 11  Talking Till You’re Blue in the Face: How to Get More Likes and Comments     193    The Surprising Truth About How People Use Facebook     194    Your Fans See the People and Pages They Interact With     195    The Average Page’s Posts Are Seen by Less Than 10% of Its Fans     195    The Mysterious EdgeRank Algorithm     197    Post Metrics and Benchmarks     198    Reach     199    Engaged Users     199    People Talking About This (PTAT)     199    Feedback Rate     200    Reach/Fan Count = Visibility     200    Feedback Rate’s Effect on Reach     200    Are Some of Your Fans Unreachable Forever?     201 Dancing on the EdgeRank: Increasing Response  and Visibility     201    What the Heck Is Web 2.0?     201    Leading the Community You Create     203    Facebook Users Are Bored: Entertain Them!     203    Formulas for Posts     204    Incorporating Selling the Dream     207    Learning from Your Previous Posts     209    Engagement Milestones     210    Guiding Your Community     211 Balancing Engagement and Selling Types of Posts     212    Ratio and Frequency     213    Ideas for Posting     214    Feedback Rate and Sales Posts     215 Chapter 12  FaceMessage: Achieving Other Corporate Goals on Facebook     217 Nonrevenue-Oriented Facebook Goals     218    Branding and Positioning     219    Customer Service     221    Public Relations     222    Journalistic Best Practices for Interaction     226 Chapter 13  Face-alytics: Analyzing Your Facebook Results     229 Which Web Analytics Package Should You Use?     230 Google Analytics Overview     231 Taking Analytics with a Grain of Salt     233    The Untrackables     234    Uneven Accountability     236    Last-Click Bias     237    Inconsistencies and Inaccuracies     237 Tracking Facebook Visitors with Google Analytics     238    Tracking Visitors from Facebook Posts     240    Tracking Visitors from Facebook Ads     241 How to Get Advanced Facebook Page Insights     243    1. How Often Should You Post on Your Facebook Page?     243    2. What If the Demographics of Your Most Engaged Fans Are Different from Your Average Fan?     244    3. What Types of Posts and Post Content Get You the Best Feedback Rates? Which Get the Worst?     244    4. What’s the Best Time to Post to Your Fans?     244    5. Which Sources Get You Fans Who Will Ultimately Unlike Your Page?     245    How to Use These Tips to Get Better Results from Your Posts     246 Competitive Intelligence Analytics     246    Keyword Monitoring and Sentiment Analysis     246    Content Engagement Analysis     247 Chapter 14  Influence: 13 Tactics for Turning Browsers into Buyers     249 Sales and Influence Tactics for Increased Facebook Profits      250 Applying Influence Principles to Facebook Marketing     251    Reciprocity     251    Commitment and Consistency     258    Social Proof     260    Liking      261    Authority     262    Scarcity     263 Applying Time-Tested Sales Tactics to Facebook Marketing     265    Discounts     265    Bonuses     266    Upsells     266    Selling the Value     266    Testimonials     267    Truth and Consequences     268 Chapter 15  B2B Facebook Marketing     271 Facebook B2B Marketing Success Stories     272    InfiniGraph: Competitive Social Intelligence     272    Harrison Agate, Attorney     272    Marketo: Marketing Automation     273    Zurvita: Wellness Product Sales Through Independent Consultants     273 Comparing Facebook, Google & LinkedIn for B2B     274    Allocating B2B Advertising Funds     275    The Sales Funnel     276    Beyond Professionalism?     277 Facebook B2B Marketing Tactics     277    Whitepapers     278    Infographics     278    Memes     278    Think Outside the Box with a Ukulele     278    Ebooks     279    Facebook Advertising     279    Facebook Posts     282    Conclusion     283 Chapter 16  FaceBusiness: Seven Principles for Success     285 Harness the Power of Positive Marketing     287 Embrace the Entire Sales Funnel     288 Leverage the Facebook Advertising Platform Now     290 Map Out and Optimize Your Revenue Model     291 Know Your Customers Much More Deeply     292 Test, Track, and Optimize Your Marketing     293 Start Fascinating Conversations     294 Index     295