by Marvin McTaw
Last week was huge for the business of social media with Facebook’s $100 billion IPO. The general excitement about the IPO was thrown a curveball when GM, the huge auto manufacturer, announced its decision to pull its entire $10 million Facebook Ads budget. GM’s decision was a result of what they deemed to be the low effectiveness of Facebook Ads for their business.
Many conferences and festivals feel they must be active on Facebook. They typically promote themselves in much the same way as GM: creating content and engaging Fans. The good part about a Facebook Fan page is that there is no upfront cost…but that doesn’t mean it is free. Although GM is pulling it’s $10 million advertising budget, they still spend $30 million a year generating content and maintaining their accounts. I imagine with most organizations it is the same.
Facebook Fan pages are by far and away the better choice if you’re looking to engage with attendees. Fan pages allow you to connect directly with your community and engage in conversations with them. You can also install Facebook Apps to your Fan page to engage your attendees even more.
I’ve increasingly seen conferences and festivals advertising on Facebook. While these ads may help in building awareness for events, GM’s decision throws into question the effectiveness of Facebook Ads.
While Facebook Ads can work, whether it is the best use of your limited marketing budget is an entirely different question. Ben Kunz of Businessweek Magazine summarizes it best:
Facebook can be a wonderful platform for both paid advertising and social communication. It is also extraordinarily difficult to fulfill its promise.
According to a study by Bizio, Wednesday is the best day to advertise your event online. The goes further and provides recommendations based on professions and industries (See Graphic Here). For example, Thursday is the best day to reach medical professionals as they are 35% more likely to respond to ads then instead of Saturday, the least responsive day.
Although Wednesday is the best overall day, the study’s results should not deter you from advertising other days but it may be a good idea to focus extra energy on this particular day.
If you’d like to learn more or see the full results, check out the article.
Do you have a specific days of the week or month you like to promote your events? Why?