Facebook as a Successful Business Tool

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

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

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

5. 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?

6. What defines a Successful Business Tool?

7. What defines aSuccessful 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

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

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

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

11. Judging Facebook’s success • Data Analytics gathered from various Case Studies • Growth, participationand interaction

12. Why is Facebook chosen as a Promotional and Advertising Platform?

13. 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

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

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

16. Case Studies

17. 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?

18. 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.” • 18-24 age demographic • Health and Nutrition – Recipes • Intent to grow with the online social networking community

19. Why Facebook? • Case Study 3: Tattoo Pride for Tattoo Artistry (Singapore) • Singapore Tat2-2010 Show • Old communication methods obsolete (postal mail, email and the website) • Now... Facebook: • “Tattoo Pride” (4,647 Fans) • “Tattoo Pride for Tattoo Artistry” (6,850 Group Members) Show Ambassador – Kim Saigh

20. 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

21. Conclusion…

22. 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

23. Conclusion • Tim Bull– Co-Founder – BinaryPlex

24. Thank you! • facebookbusinesstool.wordpress.com