What the Facebook News Feed Test Means for Financial Services
By now you may have heard about the News Feed test Facebook is running in 6 countries.
If you haven’t, here is a summary:
In this trial, Facebook is moving all Business Pages content, except for paid placements, into a separate feed called ‘Explore’. Only the family and friends you follow will show up in your main News Feed.
Since the announcement, we’ve seen panic and anger arise out of fear that the ever declining organic (free) reach for Facebook pages will all but die if this change is globally rolled-out. Facebook has stated that there is no intent to do this.
There are, however, a few critical lesson to be learned from this announcement.
Consumers expect businesses to have a page on Facebook, just as they expect companies to have a website and to find them on Google. But, consumers don’t usually seek them out until they need something from those businesses.
Facebook has learned that people come to their News Feed to see what’s going on with friends, family, and the businesses that are most important to them.
So what does that mean for you as a business owner or marketer?
- No matter where Business Page posts appear in the Facebook News Feed, you must have a presence.
- Concentrate your efforts on creating quality content that will be available for your customers when they seek it out.
- Have a paid advertising plan in place.
The robust Facebook Advertising platform gives you the power to put your message in front of your ideal audience. Businesses can no longer expect to get eyes on their content, generate leads, or get sales results without allocating a budget. Period.
Just like your business charges for your products and services, Facebook is a business too. You can expect them to continue to charge for their services, now and in the future.
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