The single, most common question I get is,
“How do I get more Facebook fans?”
And it drives me nuts.
Because for starters, it’s the wrong question to ask.
But more importantly, it’s a waste of time and money.
How Facebook is “Shaking Down” Businesses
Facebook’s stock is at an all-time low.
There are a variety of reasons, but the primary one is because they’re under-monetizing such a huge user base.
Wall Street doesn’t think Facebook is making as much money as it should be. Mainly because they’re leaning heavily on display advertising.
And let’s face it — display advertising is terrible and ineffective. It’s like the online equivalent to billboards — high cost due to BS pricing metrics and very little results in return (if any).
So what is Facebook doing in response? They have to be more aggressive in order to make up for their shortfall.
But the problem is that businesses are paying the price. For example, listen to this quote from the NY Observer:
Facebook acknowledged it as recently as last week: messages now reach, on average, just 15 percent of an account’s fans. In a wonderful coincidence, Facebook has rolled out a solution for this problem: Pay them for better access.
As their advertising head, Gokul Rajaram, explained, if you want to speak to the other 80 to 85 percent of people who signed up to hear from you, “sponsoring posts is important.”
So you want to reach more of your own fans that you worked so hard to get in the first place?
THEN THEY’RE MAKING YOU ADVERTISE… TO REACH YOUR OWN FANS.
That’s like extortion.
And it makes building a Facebook page a fools game.
Here’s what you should do instead.
The Best Marketing Channel for Repeat Visitors
Every single business can increase sales immediately by getting better at email marketing, because it is the best online marketing channel for repeat visitors (and most companies vastly underutilize it).
Don’t believe me?
It doesn’t get more black-and-white than this recent Forrester research report:
- Paid search matters most for new customers
- Email matters most for repeat customers
- Social tactics are not meaningful sales drivers
Now let’s go back and make a fair, apples-to-apples comparison with Facebook.
If you have a legitimate, double opt-in email list, then your average email open rate is probably around 25%. That’s already better than Facebook.
But let’s say you want to reach the other 75% of people who didn’t open your email… what do you do?
YOU SIMPLY SEND THE CAMPAIGN OUT AGAIN TO THE NEW SEGMENT OF PEOPLE… FOR FREE.
The Crux of the Issue
Every company has limited time, money, and energy.
And when you waste money on ineffective marketing tactics, then you only have yourself to blame.
Because we’re lucky enough to live in a time where help is available at a nominal cost. Technology has made it possible — and effective — to provide strategies and tips for a tiny investment.
And these investments in yourself can pay for themselves in a matter of minutes.
Don’t believe me? Then let’s revisit our example…
Not only are your email customers much more likely to buy (based on cold-hard data from top market research firms), but you’re also instantly reaching a lot more of them.
Online, small changes in performance or conversion rates can give you a big impact. So if you can learn how to fix certain areas of your marketing, then you can instantly see a big return on your investment.
For example, let’s say you have 1000 people on each Facebook and your email list. Based on averages, you would reach 150 people on Facebook, and 250 on your email list.
That’s a 67% increase!
So if you scaled back your investment in Facebook, and increased it in email marketing, you would get:
- More open rates.
- More click-throughs.
- More traffic.
- More sales.
Everything in life costs you something. Every decision has an opportunity cost associated with it.
For example, if you want to reach that extra 100 people on Facebook through advertising, how much would it cost you? Easily $100 – 200.
So by doubling-down on email marketing, you will save between $100 – 200, AND actually increase sales at the same time.
Over the course of one year, that decision could mean thousands of dollars straight to your bottom line.
Want more revenue? Use more email marketing.