Not sponsoring content on Facebook is nuts
Now that most of the dust has cleared and professional marketers don't think of Facebook marketing as a mysterious novelty anymore, it’s time to stop being mesmerised by the media as such and get down to business.
To me it’s quite obvious that a sustainable and successful online marketing strategy is totally dependent on quality content. That is, what is perceived as quality by your prospective customers, whatever it might be; thrilling, funny, insightful, informative or shocking.
Content is king has never been more true. Its just that nowadays Facebook offers marketers an additional, highly flexible and always on distribution channel in Facebook Pages. Although reach will vary depending on the size and quality of your fan base, it’s kind of like having the ability to claim TV airtime on demand, and for free!
Or so it used to be...
The News feed is a busy place
The problem is that since Facebook’s News feed algorithm is increasingly selective on what specific updates are presented to each individual, it’s increasingly difficult to actually cut through the News feed buzz and reach your audience. Even though they actually are included in your fan base.
But, sponsoring your organic content can put you first in line and magically turn your dollars to eyeball reach in your target group - and of course also beyond your fan base.
It’s just like the old times when you invested in quality content and bought media placement to bring it to the people.
However, unlike TV and print, reach is cheap on Facebook. Don’t be surprised if you reach CPM rates of just a few dollars for News feed placement, which happens to be where 40% of the time is spent on Facebook. If you decide to place your ads on Facebook’s right hand side you can achieve CPM rates as low as 10 cents.
Furthermore there’s no investment commitment - you can spend any amount you prefer. That means that even if you don’t have a dedicated advertising budget you can still throw in a bit more than zero right?
The math is actually quite simple
Now to the point, if you’ve invested X in producing quality content designed to appeal to your prospective customers – be it video production or editorial staff – the incremental ROI from any incremental reach probably exceeds the cost for that reach.
It comes down to achieving the right CPM or CPC rates, with delivery to the right audience.
The content you produced had a purpose in the first place and achieving that purpose has a value, right?
Be it leading a prospective customer to sign up for your newsletter, informing your audience about a new product, or simply reinforcing your position as the thought leader within your space - regardless of its purpose, your content will do no good unless it actually reaches your target audience.
Provided that your content works its magic as long as it reaches a prospective customer, chances are you’ll find throwing some dollars on that reach very worthwhile.
Or put it this way:
Not seizing the opportunity to maximize distribution would be like putting money on producing TV commercials but not booking air time for it.