What Do Facebook Changes Mean for Your Business?
3 ways to prepare your business for the revamped News Feed.
Last week, Facebook announced major changes that will continue to shift what is shown in News Feeds toward posts from family and friends. With these changes, Facebook’s algorithm will prioritize posts that spark back-and-forth discussion or inspire people to share and interact with other people using the world’s most popular social network.
What it Means for Facebook Business Pages
While it’s too early to say exactly what these changes will mean for businesses – including advisors and agents – it’s clear Facebook is heading toward what many call “Facebook Zero.” This refers to when Facebook will no longer show a business’s posts or articles for free. We believe this change signals a new era for Facebook Business Pages, where businesses are required to pay for the placement of content in consumers’ News Feeds.
“Folks, this is a pretty HUGE update,” posted Premier Facebook Marketing Expert Mari Smith following Facebook’s announcement. “To see solid ROI on Facebook, businesses must invest in ads. The good news, though, is advertising done properly on Facebook and Instagram can dramatically grow your business.”
And here’s more good news: The Denim platform makes it easy for companies to optimize, launch, and scale social media and mobile ads. To request a demo, visit denimlabs.com/demo.
“News Feed equals Main Street, and businesses must learn how to advertise there,” said Michael Stelzner, Founder and CEO of Social Media Examiner, in a BOSS Magazine article.
3 Tips to Prepare Marketers
Here are some things for marketers, advisors, and agents to keep in mind as you reconsider your Facebook strategy.
- Establish social media advertising budgets. Is your firm spending thousands of dollars enabling your advisors and agents to share content on Facebook organically? Now that hardly anyone will see shared articles and posts from business pages, it’s time to establish paid advertising budgets for corporate and agency distribution. Does your firm have an advisor- or agent-supported social media advertising program?
- Optimize social media advertising. Because advertising is the best opportunity to get into consumers’ News Feeds, make sure you are targeting ads to the right consumers at the right time and from the right advisor or agent. This is why Denim has aggregated more than a billion data points (and counting) on consumer engagement with hyper-localized mobile and social media ads powered for insurance and financial services companies. The data contains rich stories about consumer behavior that we’re using to help our customers and users make smarter marketing decisions.
- Add more video to your social media mix. One thing we know is that people crave episodic video content. More importantly, this type of helpful, educational, and entertaining video content is more likely to drive interaction and discussion through likes, comments, and shares – which is key with Facebook’s revamped News Feed algorithm. “Companies will need to begin doing a lot more story-telling with their videos and content,” shared Stelzner.
Come back to the Denim blog for more information on this announcement and how businesses can optimize and scale Facebook and other social media channels to effectively engage consumers.