Inside Edge October 2011

Monetizing Facebook for your Business

Every business can leverage Facebook marketing!

Facebook is currently THE most popular social media network online. Market-savvy brands are tapping into their Facebook audience to get instant feedback, find ideas on new product design and seek insights on how to market better. It is a great tool to build brand awareness within your target market. No matter what type of business you are in, you can use Facebook marketing to tap into your social network enhancing positive relationships for your business.

Building your Facebook presence

Remember, building and nurturing your network comes before monetization. So here’s how to get started:

  • After you’ve made your Facebook fan page, take advantage of the various tools Facebook offers businesses to promote their pages.
  • You can add your brand logo, any company photos, and as much information and content as you possibly can to build credibility.
  • Facebook allows you to connect your Twitter profile, your blog, and your website so they are all linked. The activities and interactions you undertake on one network will automatically be posted on all of your other networks.
  • Facebook also allows you to embed widgets on your website pages so that visitors to your site have the option of connecting to your Facebook page.
  • To jump start your business page, begin by determining which users and other Facebook groups are the most influential and which ones you should begin interacting with.
  • Once you start communicating regularly with other users and groups, you’ll be surprised to see how quickly the interactions on your business page increase.

How to turn loyal fans into paying customers!

Here are some more tips for monetizing Facebook:

  • Facebook’s core value proposition is connecting and communicating with friends. While word-of-mouth, or “earned” media, helps brands gain Facebook fans, it can only go so far. Companies also need to contemplate using paid advertising to develop their Facebook fan-base.
  • Create engaging content. The simplicity of the “like” button means that there may be no actual engagement beyond the fleeting moment of the click. To be successful in this post-“like” phase of Facebook marketing, businesses need to excite their fan-base with compelling posts, interactions that spur a sense of community, and rewards for their ongoing support.
  • Give people a reason to become fans. Apps are a good way for any business to have engaging interactions with fans. Everyone wants the latest app, and you can place it for download on your page. The process of sharing will increase your business awareness and deliver good returns on your investment.
  • Use innovative apps to help monetize Facebook fan pages. For example, create apps that enable your business to post coupons for promotional discounts on your Facebook page. After clicking on the promotion, fans are prompted to provide their email addresses before receiving the coupon. Thus, you have not only increased the likelihood of a fan becoming a paying customer, but also gained a potential customer’s email address, which you can use for future marketing endeavours.
  • Incorporate e-commerce directly into your Facebook page. A Facebook storefront application will enable users to make purchases directly. You can also offer promotional deals to fans, but the storefront app offers the additional advantage of publishing a fan’s purchase on the Facebook news feed. This further promotes the item to your fan’s friends who can then make comments about the item.

Attracting new customers to your brand is a great benefit of Facebook fan pages; but if you have not monetized your Facebook page, then you are missing out on an easy way to generate revenue!

WSI can help create an effective online sales process to convert fans into buyers, get better conversions and increase sales. Contact your local WSI Consultant to monetize and leverage Facebook for your business.

CALL (888) 697-5107

  • Monetizing Facebook


    “What an amazing movie – I thought it was so touching when WSI character was able to monetize their Facebook page, didn’t you?”

  • Marketing Stats

    Facebook to Double Worldwide Ad Revenues This Year

    • Worldwide ad revenues for Facebook will rise 104% this year, eMarketer predicts
    • Total revenues at Facebook, which include those from advertising as well as Facebook Credits and other sources, will reach $4.27 billion this year Read the Article (eMarketer)

  • Ask WSI

    Get further insights from WSI experts

    Question: How do I integrate Facebook into my customer nurturing and marketing strategy?

    Answer: Plan the calls to action ahead (ie: download a free ebook, call for a free consultation, buy this widget at X% off, etc.) as well as your data collection and communication methods. A very effective strategy is to integrate Facebook with email marketing. The process could look like this: Prospect visits the Facebook Page > Accepts offer > Likes the page and enters email address to receive offer > You continue to nurture the prospect on Facebook and send added value through regular email marketing > You develop quality leads and sales through this nurturing process.



thomas davisthomas davis