Social Media: How Have Firms used Facebook?

Social media is the newest coolest emerging media. With number of users almost equal to the population of the United States, Facebook seems to be one of the most favored destinations for many brands. For marketers it seems to promise the starts and the moon and $$.

When it comes to the buzz around Facebook strategy there are definitely ad agencies that have specialized in providing topnotch ideas and there are companies that have definitely identified how to leverage this new channel. These companies promote their brand, acquire “fans” and get people talking about the site, products and services and above all consume them.

Many firms have created their Facebook business page. Some just wait for fans to linkup, others create the page and actively seek out fans by posting about their products and services and then there are others that do something out of the ordinary that they stand out and have a huge fan following.
Examples of sophisticated social media strategies on Facebook range from H&M’s to Pepsi’s Refresheverything to E&Y.

H&M created a fan page (http://www.facebook.com/hm) that boasts over 1.8million fans. The company uses this page to very actively engage with its fans. It promotes the latest collection on this page, answers questions about store openings and interacts with customers when they have a question on style or a clothing line. H&M representatives actively participate in the discussions. The page also has a section called “Your H&M” which offers multiple links such as Style Guide and Fashion Studio that link back to a very interactive website which gives users the required information.

Pepsi created a page called refresheverything (http://www.facebook.com/refresheverything) for social causes. The company is offering grants to ideas in such categories as health, education and Art and Culture. The Facebook page gives users the option to vote for their choice of social cause and the one with most votes gets grants. It also offers users the option to write about other social causes that may not be covered in the competition. With over 600,000 fans this is a page dedicated to improving lives.

While many firms are still struggling to identify how to leverage the social media, there are firms that have indeed identified a way to connect with fans and not only increase their business returns, but also contribute back to the society at large.

And there is more. A recent BusinessWeek’s BX published the article on 5 companies that very successfully launched a socialmedia strategy that resulted in not just a large number of fans but also in increase in sales.
http://bx.businessweek.com/facebook/view?url=http%3A%2F%2Fwww.businessbrief.com%2Fhow-5-companies-use-facebook-to-boost-business%2F

But, the success of these brands also begs the question, are these firms successful in their Facebok strategy because they already are recognized brands or it is their unique idea and approach on Facebook that got people joining and contributing.

Regardless, firms that have been successful at gaining fans have a huge database of loyalists who can be tapped any day for help and ideas, a concept that utilizes the fundamental essence of social media – ‘being social and sharing ideas and thoughts’.