We all understand that Facebook is one of the most popular social media platforms in Australia. However, recently some of our clients have expressed their frustration with their ‘Facebook business pages’. The key frustration is that their business page just doesn’t seem to be driving traffic and generating leads and there is little engagement. Lots of time and energy going in but not too many results.Why are small business owners getting these results?Let’s take a closer look at why there might be a lack of engagement on Facebook business pages. Let’s also explore how you might be able to work smarter and use Facebook more effectively and discuss some of the common pitfalls to avoid when it comes to using Facebook for Small Business Marketing.Understanding how Facebook worksFacebook determines what people see in their “news feed” based on an algorithm. It’s a mathematical formula used by Facebook to determine what to show people who are Facebook users. Facebook focuses on the posts that people ‘like and engage with’ most. Therefore, if people like, share or comment on a post from a particular Facebook page, Facebook believes that this information is more relevant to the person because they are spending more time ‘engaging’ with that content. As a result, more content from that page is placed into the person’s news feed.Facebook Small Business MarketingFacebook is a “social” media tool and therefore will always favour content posted by friends, family and social connections over business content. Business content usually doesn’t get the same traction as personal content and often requires a ‘boost’ so that the content can get in front of people. In general, business content gets seen by very few of the people who have liked your business page, these days you need to use paid Facebook advertising to get in front of your audience.Business content on FacebookUltimately, like any other business, Facebook is a commercial entity and needs to make money and profits to satisfy stakeholders and investors. As many of you may have already realised, Facebook knows it’s worth and understands that it can be an effective digital marketing tool, that gives business owners access to a large world-wide audience and prospective customers! Facebook also understands that business owners are willing to pay to access new customers and reach new audiences and therefore has tapped into this market.Boosting Posts & Paid promotionsOne way to get more people to see your posts or news items is to pay so that you can ‘boost’ your post. Remember ‘organic reach’ which is not paid for, is very limited on Facebook nowadays particularly for business pages. Therefore, to get in front of your target audience you really need to consider boosting your posts or running paid advertising campaigns or promotions to increase reach and engagement.How can I get some traction without paying?There are a few ways, at the time of writing this article, but they take more effort.Facebook LIVEFacebook “Live” which is a newer feature that Facebook has introduced, allows users to run live video streaming events. This is a fun and engaging way to reach your audience but you need to be comfortable in front of a camera and ready to answer questions and comments as there is also live interaction features that lets you know what’s on your customers’ minds. It’s not for the faint hearted but gets better cut through and larger reach.Facebook GroupsFacebook groups are different to Business pages and seem to be able to achieve more organic reach. Facebook groups are online forums that allow for small groups to communicate they generally focus on a topic of interest and are there to allow people that share common interest to interact and share knowledge, opinions and ideas. People can join groups that are often administered or moderated by one of more Facebook users. It could be a group that centres around a common cause or an activity such as mountain bike riding or photography, or it could even be centred around supporting others who are in a similar life stage or have similar circumstances such as a single parents group or an Autism Parents network or a group specific to small business owners.With so many different options on Facebook it’s sometimes difficult to determine what is the best option to go with or sometimes even where to start.Keep in mind…Don’t create a personal profile for your small business.Some new business owners and entrepreneurs create personal profiles for their businesses and brands, instead of creating a relevant Facebook Business Page or group. This is not ideal as it puts your business at a disadvantage. This is because Facebook business pages offer you a host of content creation tools, paid promotional opportunities, and analytics that are linked to a Facebook Business Page and will not be available to you if you set up a personal page.Use Calls to ActionOnce you’ve set up your business page, use a Call to action to get visitors to engage further with your business or brand. Is Facebook a referral source but you ultimately want to get visitors over to your e-commerce store or website? What do you want them to do when they get to your Facebook page? Call to actions are buttons with text on them like “Watch Video,” “Sign Up,” or “Book Now” these buttons can be customized or can include a (URL) web link to a ticketing page or e-commerce site.Use your resourcesGet help or use online resources, if you are unsure of where to start with Facebook, jump online and check out Facebook’s help centre. There is plenty of information for advertisers as well as tips and helpful videos you can watch. If you run a small business, are time poor and just want to find out how to improve your marketing reach or how to use Facebook more effectively, consider getting in touch with an agency that offers small business marketing services. Best of luck with your marketing.
Real Estate Auctions – The New Land Rush
On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.
Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.
Real Estate Auctions Work in Up or Down Markets.
Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.
The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.
When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.
Evaluating Your Real Estate for Auction
Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.
Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.
Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.
Locate a Qualified Real Estate Auctioneer
Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.
Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.
You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.
Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.
Types of Real Estate Auctions
Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:
Absolute Auction
The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.
Minimum Bid Auction
Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.
Seller Confirmation or Reserve Auction
With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.
5 Outdoor Advertising Mistakes
Feeling like you’re not getting your money’s worth on advertising and marketing? Then maybe you’re doing it wrong. Take a look at these questions and see for yourself.
5. Are you advertising enough?
Effective advertising does not happen in an instant. It actually requires constant advertising to make sure that your advertisements really sink in. Don’t be afraid to keep repeating on advertising. You may consider Digital Outdoor Advertising since it offers a repetitive means of capturing audience attention. Grab the opportunity and make the most of it.
4. Are your advertisements clear and easy to understand?
Don’t forget what it is you are advertising. If you want your customers to buy your products and services, then make sure you tell them what it is. It’s the simplest things that could cause huge damages to your advertising campaigns.
3. Are you engaging the audience with your ad?
What makes a successful outdoor advertising campaign is how it motivates the consumers to take action. It’s that strong sense of desire an advertisement brings that moves the customer from knowing about a movie to actually watching that movie. You have to make them feel like they really want and need your products or services so that you’re able to reap the benefits of your Outdoor Media Advertising advertisements.
2. Are you aware of your target audience?
Do take time to research on your consumers. In order to effectively convince them that they want your products or services, you have to know what it is your consumers exactly want. Find out what will motivate them to buy what it is you’re offering.
1. Are you advertising at the right place?
What makes an ad really effective is being in the right location at the right time. Knowing your target audience also means that you have to know where they usually are. If for example you’re targeting commuters, then the last place you’d want to advertise is on a highway. Yeah sure, chances are that commuters will pass by. But examine the percentage of commuters that pass by highways than non-commuters. Put yourself in your consumers’ shoes and think outside the billboard box. The best place for you to advertise would probably at transit systems. Not to worry, there are a lot of Media Owners out there that offers these kinds of services. Like SMRT Media who offers one of the largest outdoor advertising solutions and network in Singapore. Make sure your target audience actually sees your Outdoor advertisements and Outdoor Digital Media advertisement. Otherwise you’re just wasting money selling make-up in front of an all-boys school.
If you answered mostly “no” to these question then you definitely need to rethink your advertising campaign. Advertising and marketing is an investment and in order to get all the benefits, it’s important to be strategic about it. Plan ahead. Taking time to plan how you advertise will increase the chances of your advertising success.