Facebook recently had businesses up in arms and nearly saw many a social media consultant pack their bags. All of a sudden no-one sees business posts, likes are plummeting faster than Husain Bolt can run and reach stats cause sleepless nights. What is happening? Should you take social media marketing off your to-do list?
The simple answer to the first question is that Facebook is trying to limit business accounts. All companies came flocking to the platform to join in the conversation and reach the millions of relevant people waiting to buy their product. Well, Facebook saw this and have now introduced a price tag on what used to be an open floor.
The second question depends on your business. The best place to find justification for or against social media marketing is the cost-benefit ratio. Are your costs in line with the benefits you receive from marketing on Facebook?
In the old days, someone who likes your page, would implicitly see your content in their newsfeed. Then Facebook started using an algorithm called EdgeRank, which tries to figure out what should be the most relevant information a user wants to see. As a result, many businesses have seen that any post of theirs only shows up in the newsfeed of 15 – 20% of their total followers. This is less than ideal, but if you have a large following, this percentage might still be manageable. Since October 2013, EdgeRank has been put into high gear. Now your post will only be seen by 5 – 6% of your page followers and independent studies revealed a staggering 2% range for pages with more than 500,000 followers. This just shows that larger businesses’ posts are being held hostage and paid advertisements is the only ransom.
Read the full article on our blog: Is Social Media Marketing Still Viable
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