Thursday, 18 February 2010
FACEBOOK FAN PAGES: THE FUTURE OF CRM
This video on Facebook fan pages shows that there is still a long way to go before these pages really reach their potential. Lots of brands are developing Facebook fan pages, and my agency is no exception. But like any new innovation there is a gimmick stage, and then the real business begins. These pages now need to work harder to truly capture the imaginations of cynical consumers, and budget-squeezed marketers.
Brands now have pages with thousands, and sometimes millions of fans, but what do they do with them?
Unfortunately, most brands and a very few agencies will know the answer, or have the resources to tackle the question. The combination of skills required to make these pages work is not in place in most agencies. Plus many brands create these pages with the wrong intentions, and are chasing the latest thing to tick on a box on the marketing plan, rather than understanding the radical repercussions it could have on their business.
For me Facebook fan pages are a key building block in the future of CRM.
- Structuring your page intelligently to reflect different customer needs
- Design a customer life cycle or migration map that moves fans through each need stage
- Segment fans by influence, sentiment, activity, and other variables to differentiate what you say and offer to them
- Reward and incentivize high value fans
- Move towards one-to-one approaches
- Track and measure obsessively
- Integrate Facebook into the brand's broader digital ecosystem
Understand in CRM, that the Holy Grail of metrics, is customer lifetime vale (LTV). Build models, and optimise your campaigns to drive these LTV models.
This is all very serious stuff, and a world away from how most brands use fan pages, but watch this space. Facebook Fan Pages, the future of CRM.