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Is Facebook Dead for Retailers? [Session Notes – Retail Marketing 2018]

Steve BuorsProfectio had the opportunity to attend the Retail Marketing Conference 2018 hosted by the Retail Council of Canada. Throughout the one day conference speakers from across North America shared their latest case studies, predictions, research, trends and more about the constantly changing retail landscape.  

Speaker: Steve Buors, CEO and Co-Founder, Reshift Media
Session Title: Is Facebook Dead for Retailers?
Intro: Facebook completely changed the social media game for retailers in January 2018 with a major update to their algorithm. As part of this update, the company explicitly stated that brands can expect to see a decline in their ability to reach people via their Facebook business page.

Session Notes: 

Will people leave or delete Facebook?

  • 95% of Canadians use at least one social network
  • 84% of adult Canadians are on Facebook (22 million Canadians)
  • 79% of Canadians use Facebook everyday; 17 million Canadians)
  • 49% come back more than once (more than 10 million a day)
  • Facebook is ingrained into our lives
  • Facebook owns Messenger, Whatsapp and Instagram; combined these 4 platforms dominate Canadian’s attention
  • People probably will not leave Facebook in the next year – they have consumer’s attention

 

With all the changes to Facebook – is it worth my brand’s time to engage with consumers?

  • There was a time when if you had 1,000 followers on Facebook you could reach 100% of them
  • Facebook is ingrained into our lives
  • With the newest changes your ability to reach followers is down to about 2%
  • Facebook is no longer interested in passive engagement (ex. Likes or ejojis) they now want comments
  • Pre-recorded video will now receive less interaction – Facebook considers this passive content
  • Mark Zuckerberg expects time spent on Facebook to go down, but the trade off is they expect more engagement with content
  • Brands /publishers should expect their reach to decline after the massive change to Facebook; they are encouraging more interactions
  • Facebook has over 2 billion people, it still offers the best tools to engage with users

6 Point Plan for Brands On Facebook

  1. Interactions is the new currency on social media
  2. Think “off” your page – don’t just rely upon one tool to reach consumers
  3. Video is still a winner – Video still offers great way to engage with users, Facebook Live provides 6x more engagement than regular video
  4. Measure the right things (where does it fit in your business strategy; measure quality vs quantity)
  5. Integrate paid and organic strategies
  6. Implement your data privacy strategy right now (GDRP)
  • Is Facebook dead for retailers?
  • No
  • Is it super annoying – YES!
  • As a marketer, Facebook still represents the largest market share
  • You should also include other platforms where your customers are 

 

This content was made possible with the support of Reshift Media.

Reshift Media

To learn more about Reshift Media:

Visit the Resift Media company profile in our marketplace.


People mentioned in this article:
Steve Buors