Marketers find more opportunity on social Web: Facebook VP
Marketers are beginning to take better advantage of opportunities within social media as the Web continues to evolve from an informational to a social space, said Dan Rose, VP of partnerships and platform marketing at Facebook, during an April 6 keynote address at the Bazaarvoice Social Commerce Summit.
Rose said that the marketing funnel has changed from awareness at the top and action at the bottom to a “viral loop” because product and service decisions are often informed through a network of family, friends and co-workers. This cycle consists of awareness, interest, decision and action – like the funnel – but also includes recommendation post-action.
“This is word of mouth on steroids,” he said. “This is how you take advantage of the social Web.”
Rose said marketers that are seeing results from integrating Facebook social components on their websites include American Eagle Outfitters, Levi's, OpenTable, ShoeDazzle, Ticketmaster, Travelocity and Benefit Cosmetics.
American Eagle implemented a “like” button on its site and found Facebook users it tracked spent 57% more than non-Facebook customers. Rose said Levi's implemented “like” buttons on all product pages last year, and more than 50% of its Cyber Monday traffic came from Facebook.
Ticketmaster added a step that allows concert ticket buyers to tell friends about the purchase on Facebook. It receives $5.30 per link shared on Facebook in revenue.
Benefit Cosmetics is allowing customers to add product reviews on their Facebook page. Those reviews flow to the Benefit website through the Bazaarvoice SocialConnect Suite platform. Within two weeks, he said, 80% of Benefit's products were reviewed and rated on Facebook.
“Their goal was to get more reviews of all of their products, and they did it through Facebook,” Rose said.