Facebook as a Successful Business Tool Presented by Leila Bagundol, Glen Morrow, Henrietta Suen and Angeline Woo

Aim Discover Facebook’s successfulness for both business and media industries Explore the potential of Facebook Examine the strengths and possible risks of Facebook

Scope Businesses: socialising; advertising, promotional, marketing and communication functions Whether or not Facebook is successful: disseminating information to better various businesses

Scope Key questions: – What defines a successful business tool? – How do we judge Facebook’s success as a business tool? – Why is Facebook chosen as an advertising and promotional platform?

What defines a Successful Business Tool?

Something that has a positive effect on customer/consumer behaviour Part of an overall strategic approach to promotion, and revenue generation Enables the business to have a competitive advantage in a climate of constant change

How do we judge Facebook’s success as a Business Tool?

Judging Facebook’s success Keith De La Rue – Founder – Acknowledge Consulting

Judging Facebook’s success Ross Hill – Innovative Analyst – Deloitte Australia

Judging Facebook’s success Data Analytics gathered from various Case Studies – Growth, participation and interaction

Why is Facebook chosen as a Promotional and Advertising Platform?

Why Facebook? Easy networking and communication tool User popularity Platform for instant customer/consumer engagement Information immediacy and fast feedback Achieve higher search engine rankings Increase in product visibility Free/Low Cost

Why Facebook? Chart 1: Time spent online per month by category (Oct. 2009) Source: Nielsen Scan Australia October 2009 News Release

Why Facebook? Table 1: Top 50 Australian Websites June/July 2009 Source: Nielsen Scan Australia July 2009 News Release

Case Studies

Why Facebook? Case Study 1: Supre Clothing Store (Australia) Mudo Media – “Zero to 40,000 fans” – 5 month period of Social Media and Marketing Strategies On a daily basis the Page generated an average: – 299 new Fans – 171 Comments – 163 Likes – 838 Page views Listening to the customers! – Polls and opinions saved money Left or Right?

Why Facebook? Case Study 2: Australian Bananas (Australia) Multi-Media “Make Your Body Sing” campaign – 6-month period of advertising Paired with So You Think You Can Dance 2010 – “Banana lounge” message of “...good times, with fun, with energy, with happiness.” – age demographic – Health and Nutrition – Recipes – Intent to grow with the online social networking community

Why Facebook? Show Ambassador – Kim Saigh Case Study 3: Tattoo Pride for Tattoo Artistry (Singapore) Singapore Tat Show – Old communication methods obsolete (postal mail, and the website) Now... Facebook: – “Tattoo Pride” (4,647 Fans) – “Tattoo Pride for Tattoo Artistry” (6,850 Group Members)

Why Facebook? Case Study 4: Dessert Artistry (USA) Rice University's Jones Graduate School of Business – Social Media and Marketing Research Study – Over 1,700 respondents over a 3 month period Study shows Fans: – Made 36% more visits to DG's stores each month – Spent 45% more of their eating-out dollars at DG – Spent 33% more at DG's stores – Had 14% higher emotional attachment to the DG brand – Had 41% greater psychological loyalty toward DG

Conclusion…

Conclusion As a business technology it IS successful Traditional advertising and marketing media tools appears to be approaching a slow death But… – New social media technologies/platforms – Must evolve and innovate – Issues with the private and public spheres

Conclusion Tim Bull – Co-Founder – BinaryPlex

Thank you! facebookbusinesstool.wordpress.com