Bet my data’s deeper than yours! So might run the playground brag of advertising and marketing groups Publicis and WPP. And they’d be right. Both global agencies have recently signed major multi-million pound partnerships with Twitter.
First GM pulled back on Facebook advertising. Then the high-profile FB flotation stumbled. The vultures began to circle. But now a new comScore study could herald an about turn. Or, at least, give us food for thought. It shows that fans and friends-of-fans were more likely to buy a product they cherished than not. Which seems to have some blindly obvious circular logic to it! Specifically, the people exposed to one company’s message on FB were almost 40% more likely than a typical user to make a purchase in the following month.
Everything’s about ‘dialogue’ these days. No more lecturing from on high. Just listening, taking heed and constantly reformulating to meet customers’ changing expectations. But this doesn’t mean being timid and tepid. Take an innovative new Aussie Facebook app from Dove, for instance. This gives women – and men – the power to replace body-bashing and insecurity-preying ads with new empowering ones. Perhaps the originals are clever ‘plants’? Who knows, but now you can rebuild your battered self-esteem with feelgood messages like, ‘The perfect bum is the one you’re sitting on’.
We all know that data is everything. But not if it’s a week out of date – especially in the wonderful world of digital. It’s virtually worthless. A nice little history lesson, but only of use for the next campaign. Nowadays we demand the ability to tweak our campaigns in real-time; engage in the ongoing conversation with our customers and go where they’re going. So it’s perhaps surprising that social media goliath Facebook has been left wanting with its own feedback. In fact, one cheeky website actually logs how long the Insight lag is, in real-time, of course… www.WhyIsFacebookInsightsNotWorking.com and gives you the chance to share it (not via Facebook though). So, how fast are the updates? Well, you’re now looking at every 5 to 10 minutes rather than weeks. Of course, with better analytics, you’ll now be more tempted to buy from Facebook’s latest ad formats and test Timeline for Brand. But, and here’s the key point, faster data is only valuable if you use it! How many brands run all kinds of analytics but are simply too scared to act on the data? And, if they do, the moment has often passed and the bandwagon has left town. With superfast Facebook feedback the onus will now be on us marketers. It’s all about acting quickly – moving posts around, changing posts, removing posts. This could be the real-time brand/customer conversation we dreamed of. Are you ready for it?