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Why Is Business Fascinated With Facebook?

Last week I was in a meeting with a well known company.  They had  Facebook-logo called our firm for a "brain picking session".  What that means is we go in and ask questions, give them some solid marketing ideas (just to show them we know what we're talking about), shake hands and leave.  Then the people we visit with will do nothing.  It's not like we're jaded it's simply the truth.  Most business people would rather "stay the course" than adjust and grow.  New is often difficult.

At the center of their discussion was social media and at the center of that was Facebook.  Business is fascinated with Facebook.  They hear stories of how well known businesses have thousands of followers and think, "We would be successful if only we had thousands and thousands of followers!"  But...that is bunk.

Thousands of followers is nice but do they impact your ROI?  If so...great.  If not let's adjust.

I asked, "So, tell us, what percentage of your marketing budget is spent on out-bound advertising?"  After some thought we were told 16%.  "And, what constitutes your largest percentage and how much is that?"  We were told 50% goes to special events and internal promotion.

In other words...they are talking to themselves rather than attracting new customers.  When we suggested they reverse that number...and why...they were shocked.

Bottom line:  If you keep doing things the same way you can expect the same results even when you incorporate new tools (Social Media). If you are pushing the wrong message to the wrong people the ROI won't be there even if the tools are "free".

Your take?




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