Facebook Fights Back
May 17, 2011
How should marketers use Facebook? Is it just to make a social connection, or is it a strong advertising medium? So far, it’s the former, due to the strange dichotomy between Facebook’s large user base (almost 700 million) and its stickiness, and its low CPM rates. Facebook is trying hard to improve those rates and become a bigger force in e-commerce.
More accurately, while Facebook is already a part of the process for many people when shopping, Facebook wants (needs) to get a bigger piece of the action. According to the San Jose Mercury News, several new initiatives are shaping their efforts:
- A new head of sales - Facebook hired former MTV and Microsoft executive, Carolyn Everson a couple of months ago.
- Continuing use of the “Like” button by marketers - Harris Interactive claims that the “Like” button (which celebrated its first birthday in late April) is already more important than consumer reviews on sites like Yelp.
- Facebook’s new “Deals” initiative - Facebook joins the legions of companies offering Groupon-like local discounts and deals.