Who had this idea again? So, Facebook shares fell by $2 BILLION dollars last week.
Learning through a magnifying glass, no marketer/publisher/platform is more on the world’s stage than Facebook.
We all know the story – Facebook wasn’t built for money. It was built for the “user experience” (or so says Zuck).
He adds: “Our goal is to help every person stay connected and every product they use be a great social experience”.
Now sitting at a crossroads, Facebook isn’t sure where, when, or should the lines be blurred between advertising, marketing & users.
A very valid point comes from Nate Ellion over at Forbes: Facebook still doesn’t get marketing. Not only is he right for Facebook, but also beacons the concept to the greater industry.
Facebook is working to bridge the gap between users and brands. Their answer is a really cheap plaster on the Taj Mahal: paid advertising. It just doesn’t look right.
As brands move from push marketing to providing value, marketers and media buyers are in an interesting space.
We used to buy some TV, Radio, Outdoor, Newspapers — kick back and watch consumers heave themselves at our products.
Enter the digital age. Consumers have a lot more choice and us marketers have A LOT more:
ROI has never been more the focal point of a marketers conversation (but then again, we still buy radio).
There is a place for paid advertising, but it must come as a value to your consumer = relevance.
Take this opportunity to learn from Facebook:
1. Grow your good / service with your user in mind
2. Advertising is no longer an arm of marketing. It needs to be ingrained into the values of your business.
As Steve Jobs puts it:
“Our DNA is as a consumer company – for that individual customer who’s voting thumbs up or thumbs down. That’s who we think about. And we think that our job is to take responsibility for the complete user experience. And if it’s not up to par, it’s our fault, plain and simply.”