Quite recently, Facebook altered the algorithm that determines how much reach content from Pages gets. For corporate brands, many of which had spent whackloads of money building up massive followings through ‘like’ buying, the implications are scary. For now, rather than reaching these huge audiences easily with daily fluff about their products, Facebook is restricting the amount of fans that see this content, unless the posts are deemed to generate high levels of engagement.
And what is engagement? Simply put, it is interaction with the content, which reveals keen interest on the recipient’s side. Advertisers are claiming that Facebook is now forcing them to pay more to promote each post and yes, this is partly true. However, Facebook, as other platforms of its kind, is justified in enforcing content relevance and judging content by the fundamental principles of social media. That is, that social networks are inherently conversational and peer to peer media.
What this will force, in the future, is a move away from superficial branded content towards consumer-brand interactions that touch the public’s interests more directly. What may those be? Customer service, honest product Q+A, environmental impact of products and businesses, social and community involvement of brands… Just a few ideas.
Here are my official statements released today speaking as Chief Strategist at #engagementlabs:
October 24, 2012 10:44 ET
Parta Dialogue Counters WPP and Ogilvy’s Stance on Facebook’s New Edgerank Algorithm
MONTREAL, QUEBEC and TORONTO, ONTARIO and MEXICO, MEXICO and PARIS, FRANCE–(Marketwire – Oct. 24, 2012) – Parta Dialogue (TSX VENTURE:PAD) (“PARTA” or the “Company”), experts in Social Campaign Optimization and Social Learning, issues comments from Tom Liacas, its Chief Social Media Strategist, on the widely reported changes to Facebook’s Edgerank algorithm, that has global advertising giants up in arms.
This past September, Facebook made adjustments to its Edgerank algorithm, the mechanism that determines how often and how prominently content from different sources appears on a given user’s wall. Given the fact that some global brands have spent millions buying ‘likes’ for their Facebook Pages and that the new changes in Edgerank dramatically affect the reach of branded content, they have been publicly decried by advertising execs, notably those at Ogilvy and WPP.
Tom Liacas, Chief Strategist of Parta Dialogue’s #engagementlabs division, welcomes the changes. “At #engagementlabs, we have always maintained that the best ROI from social media efforts is achieved when money is put on engagement strategy rather than paid audience acquisition. Social media is a conversational medium so it is only natural that Facebook seeks to further reward content that generates interactions between users and give less reach to promotional messaging,” states Liacas.
Liacas points to results obtained from Parta Dialogue’s eValue™ Social Media ROI Suite, a software as a service tool currently measuring the performance of over 20,000 corporate Facebook accounts. “Time and again, results show that a smaller Facebook community, if it generates high levels of engagement, can outperform a much larger community. As brands pay more and more to reach the same audiences, engagement is the only variable that can be used to measure the cost-efficiency of social media campaigns,” states Liacas.
More information on the eValue™ Social Media ROI Suite can be found at the following address: http://www.evaluesuite.com