Ed Cotton: Facebook’s Firehose Of Brand Data
Making sense of the enormous amount of data and branding potential on Facebook.
Watch Sheryl Sandeberg’s presentation at this year’s ANA Conference and you come away with the impression that Facebook believes its the leader in a communication revolution that’s transforming consumers from listeners into broadcasters.
Consumer broadcasting manifests itself in the growth of sharing and how people share daily details with each other (“the ones that create the fabric of our lives”).
The real personalization she mentioned on Facebook allows us to reach them directly on a “one-on-one” basis. She states that many brands now have more visitors to their Facebook pages than their own websites and that “pages” are the effective way to build on-going relationships through these.
Sandberg mentions that value comes from building relationships not just with those who “like” you, but also their friends.
Facebook is betting a lot on the idea that when a friend is part of a message you see- the impact is considerable – Nielsen found that people are 68% more likely to recall a message when a friend is part of the message, twice as likely to remember the message and four-times likely to purchase. This translates into Sponsored Story ads performing much better than display advertising.
Sandberg’s conclusion for brands is to think “social out”- “start with people in everything you do” and “make everything the basis of an on-going connection”. However, it would be good to do this with some data that could help you think strategically.
As Facebook’s platform continually evolves, especially with the integration of applications- like Spotify or other “tweaks” that encourage sharing of activities with friends, through these developments it’s creating a giant firehouse of data-there’s now even a data suite to explore video performance on Facebook that go beyond the 67 insights that Facebook currently provides.
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