Facebook has a big day today. I imagine many employees will thoroughly enjoy their happy hour after they leave their offices in Menlo Park and other locations. Mark Zuckerberg...he's going to certainly relish his ringing of the NASDAQ bell in New York. Third largest IPO many analysts say. Crazy.
Auto folks - you're watching, right? Of course you are. New media has been emerging and in the eyes of the business community, and consumer sector, Facebook appears to have something to offer. Debate lingers on the right measurement to justify types of digital marketing spend and the use of social media. But remember - branding is about being where the consumer is. And Facebook has a few eyeballs to serve according to the statistics on their audience size (look at the stats by country).
Ford's Jim Farley spoke to CNBC about how engagement is a big deal when using Facebook. It's not necessarily about click-through rates (CTRs). I agree. CTRs are part of the goal to see if people are coming into the pages for viewing. But in the world of trying to get likely buyers, one measurement should always be asked..."did they buy or not?" It's not easy to achieve, but ask your media buyers, your ad networks, your advertising agencies whether this is an achievable metric. It certainly adds the ROI touch we all seem to seek.
What do you think? Does Facebook work for your automotive marketing? How do you measure whether this type of spend gets you something back? I'd love to hear your comments.
Posted by Lonnie Miller, Vice President, Marketing & Industry Analysis, Polk (05.18.2012)