Liveblog from Bolo 2011: Facebook 2.0

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Facebook 2.0: How agencies can transform Facebook into a powerful engagement channel

Session description: In this super session, a panel of agency, client side and academia experts discuss the Facebook 2.0 ideal state, best practices and actionable steps to turn Facebook into a powerful relationship channel.

Speakers: Laurie Buczek, Jay Feitlinger, Jeff Widman, Zach Welch

The skinny

Facebook, for whatever reason, is the darling of the internet marketing world today. The panel helps attendees gain better insights on how to leverage the newer aspects of Facebook.

What they said

  • With Timeline, brands may be able to tell a better story. A great way to show the “human” side of the business.
  • Newsfeed is to Facebook what personalized search is to Google. That wasn’t said exactly, but implied. Every single user has a different newsfeed experience just like every single Google search is different depending on the user.
  • Facebook will be offering contextual based advertising. We’ll see more of this based on ticker information.
  • “People are talking about this” metric. Facebook wants you to know just how well your content resonates with users. You can also see this metric for competitors as well. Likes divided by “people are talking about this” gives you a great engagement number. (Or whatever the actual math works out to be. 🙂 There’s a reason I’m in marketing)
  • It is easier for users to hide your status updates. Take great care in what you post, think very carefully about your Facebook content strategy.
  • Never, EVER use Facebook as a substitue for your website. Use it as a compliment, not a replacement.
  • Fancy tabs are a waste of money. Other than your landing tab, use your resources elsewhere.
  • There are three components of EdgeRank: The native “edge” score, affinity score (comments, likes, clicks, page views, shares…user has to take an action, shares are worth the most), and time decay.
  • Engagement today = visibility tomorrow. Do you want to be seen tomorrow? Engage today.
  • The average time between posting and interaction stopping is 22 hours. Minimum is 10 hours, maximum is 50 hours. Also, you get roughly 9 page views per 100 fans.