James2 - 11:53 am on Nov 22, 2010 (gmt 0)
I know a chap who works in advertising selling space on facebook, does quite well at it too. He says the whole point really is it all depends on how much information a person puts about themselves on facebook. You can find audiences for age, sex, jobs, hobbies etc and that's kind of what he's in the business of selling. Farmville is absolutely huge. The money it makes is insane.
The thing that bothers me most about FB, is that I'm seeing tv ads with the last shot having their FB link and not their own website. And that's for major brands.
There's plenty of examples of FB going wrong as it gives everybody and anybody a platform to talk very badly about your brand in real time. This can be managed ofcourse but it can be incredibly damaging if left unmonitored or reacted badly to.
Personally I don't think it would be good for actually selling but good for brand awareness. So more marketing than sales and really FB is then only a platform for offline marketing strategies.
For example, did anyone see that Newport parady of the JZ song? It got over a million hits in such a short space of time and was done by a media company. Most people would have missed that last fact but people in the industry would have picked up on it and it would be a huge thing to say to prospective clients that you'd done it.
Or say you do an awesome tv ad and put it on there with a 'like' kerjigger and that goes viral. You'd be reaching a lot of people on the basis that they liked it and are recommending it rather than hoping people are watching the tele when it's on. Word of mouth 2.0