With the recent IPO of Facebook, many have been eager to see how Facebook will further monetize their platform to satisfy shareholders without upsetting users. One of their first efforts to accomplish this task was launched last week in the form of “Promoted Posts.”
Facebook page owners now have access to a new tool that allows page owners to spend money to show status updates to more fans. From this point on, page owners can now pay to promote certain posts of their choice, however posts previous to the launch of this tool cannot be promoted. Posts can also be promoted within 3 days of when they were originally posted.
So why would someone use a promoted post? According to Facebook, “when you promote a post, it will be shown in the news feeds of more of the people who like your page than you would reach normally. Friends of the people who have interacted with your post will also be more likely to see the story in their news feeds for up to 3 days from when the post was first created.”
Therefore, page owners can now pay to ensure these posts reach their fans and stay in their News Feed for up to 3 days. If someone interacts with the post, it will also appear in his or her friends’ News Feed as well.
This may be the perfect tool for many internet marketing companies and businesses to expand their visibility and reach. Facebook’s Edgerank Algorithm determines which posts populate a user’s News Feed, and typically only allows a post to reach less than 10% of the page’s fans. Promoted Posts are currently available to pages with more than 500 fans, but may be expanded to pages with a lesser following.
If your Facebook page supports the new Promoted Posts option, a new “Promote” button will appear below the blank status update box. Once clicking “Okay” a drop down box will appear stating different pricing options for promoting that post and the expected reach of the post.
The price of promoting the post is dependent on the number of page fans you have as well as the expected reach of the post. The prices and expected reach are placed next to each other allowing page owners to easily see the expected reach for the different prices. The pricing options vary from $5 to $300 depending on the reach of the post. It is recommended by internet marketers to only promote certain posts that are relevant to the timing and reach of this promoted posts option, such as promoting sales or limited time offers.
The new tool also includes a budget tracker allowing the marketer to keep track of how much they are allocating to Promoted Posts.
After the post is made, it can be monitored with real time analytics to see the actual reach of the post. This would appear below the post, as shown below, and is only visible to the page administrators.
With this new marketing option, it will be interesting to see how the internet marketing campaign of a business or online marketing companies will change to utilize this new tool Facebook has provided. Let us know your thoughts once you have tried out this new tool.