Over the past few weeks, we’ve been making a lot of noise in the market around the launch of our next generation Consumer to Consumer (C2C) social marketing platform, which includes full Facebook Open Graph enablement, new Social Expressions, and advanced Social Analytics.
To help you understand a little bit more about what this means, I’d like to walk you through how our existing products have evolved with Facebook’s Open Graph. We can now help brands move beyond the one-dimensional Like and automatically create contextually relevant stories that are widely broadcasted across Facebook when a customer takes an action in one of our products. In Social Referrals, an action can be a referral of an offer. Within our various Social Promotions, stories can be created around the claim of a coupon or an entry into a sweepstakes. Our new Social Expressions allow for the sharing of custom stories such as “I want” a bottle of wine or “I love” these shoes.
As these stories are created, they are distributed across Facebook via the advocate’s Timeline, Newsfeed, and Ticker as well as the advocate’s friends’ Newsfeeds and Tickers.
Here’s where the true power of the Open Graph lies. When a story is distributed across an entire social network, it not only hits the advocate’s Facebook pages but the pages of all his or her Facebook friends as well. As a result, the level of reach and amplification increases exponentially as it spreads across one’s social network.
In fact, we’ve noticed – from some of our launch partners such as Zazzle, TastingRoom.com, Seamless and others – that on average one story drove roughly 120 impressions. And since these are stories created by trusted sources (friends, colleagues, etc), the click through rate and average order value was also noticeably higher.
Another interesting data point that we noticed was that almost 70% of story engagement occurs on the Timeline compared to the Newsfeed and Ticker. That makes sense if you think about it. People visit Facebook to check up on their friends and the majority of that activity occurs in the Timeline.
Finally, with Open Graph enablement, you can leverage this prime real estate on Facebook and create a robust Timeline experience for your brand and products that will drive more reach and impact for your programs while showcasing a stronger relationship between the advocate and your brand.
So how does this impact advertising on Facebook? Consider these stories the new ads on Facebook. With the generation of highly contextual stories (earned media), this creates a huge opportunity for brands to evolve their advertising strategy and purchase sponsorships (paid media) against these stories. And because these stories are essentially consumer generated content, conversions will be higher than traditional ad units on Facebook.
The release of the Open Graph has completely transformed the way brands should approach social marketing. In order to truly extend your brand’s reach and drive more effective advertising that results in higher conversions, implementing C2C marketing programs that leverage the Open Graph should be a critical component of your social marketing strategy. To learn more about how Extole’s products can help you take advantage of Facebook’s Open Graph, visit our Products Page to learn more or click here to request a demo.