How Facebook Analytics help small business which provide videography services to

Question

How Facebook Analytics help small business which provide videography services to identify its target market. what this company should do with the information obtained from this data.

Areas to potentially focus on in your argument (if you think they are relevant) include, but are not

limited to:
• How well evidence from Facebook Analytics is integrated into your argument.
• The viability of this to this company (a sole trader business), and potentially considerations of
the industry it operates in, been considered in the argument.
• Is reach potentially a more viable measure for this company?
• How important Facebook appears to be to this company’s business strategy.
• Originality of argument.

Daily: The number of People Talking About the Page by user age and gender age from Female 13-17 Female 18-24 F.25-34 F.35-44 |F.45-54 F.55-64 F.65+ Total Female: 102 203 402 603 713 Rank Female 7 age fronm 13-17 M.18-24 M.25-34 M.35-44 M.45-54 M.55-64M.65+ Total Male: 45 Rank Male 244 267 192 6

Explanation / Answer

Facebook Analytics provides the option of setting up personalised analytical reports on the basis of traffic on the page and related website. Considering that social media is set to become the largest and most effective medium for advertisement and promotions, the effective use of and accurate analysis of, the vast range of data is essential to be able to utilise it efficiently to generate return on investment in the form of increased sales. Facebook provides extensive data along with facilities to generate reports specific to an individual's requirement. Reports can be on the basis of various factors and in great detail such as demography, number of visitors, number of conversions on various bases, the trains for activity on the website, various reports on profitability in relation to demographic or other factors, the behaviour patterns and purchase patterns with subsequent generation of revenue and another powerful report call the customer lifetime value which helps provide a breakdown of the value of a customer over a given future period to the business. This proves to be an extremely helpful tool for deciding on future activities for an organisation.

For example in the given context, if a target group shows a high customer lifetime value as compared to the initial purchase the owner can have a focused approach with a targeted package for the particular group which will generate exceptional Returns as compared to a more generalized approach. Video production company can be providing services to various sectors both personal or corporate. On the basis of the above report which depicts the number of people discussing the services on the basis of age and gender, can help the company target its advertisement and promotional efforts by focusing on groups that really show interest in the services, which will lead to better conversion to sales due to absence of the no needs barrier. It is clear that the group between 45 years to 54 years exhibit a significantly larger interest in the services. The company can concentrate their sales efforts on this group by providing tailor made packages. On the other hand, if this group shows a large percentage of conversions already existing, the company can target on a group which has lower ranking but has greater potential for lifetime value, which would be the 35 to 44 group in both males and females. Numbers of females overall are much higher clearly indicating that they need to be focused on for advertisements and promotions. They may be the decision makers definitely have sufficient influence on the decision maker, therefore convincing them can provide an effective ally in the decision making team. The report can also provide an indication of the method to be employed for expansion and growth strategies. The groups with lower ranking 50 age group of 13 to 17 and 18 to 24 in both genders show remarkably lower numbers. It is a clear indication that the type of services provided by the company do not interest the younger generation adequately. Comparison with industry numbers can provide a better indication of the reason for this. Also, it can help the company create new and special packages targeted specifically at this segment. For example, services for 13th and 18th birthday parties or graduation events or school passing out events can influence this group to show an interest in the services provided. So it can help formulate growth and expansion strategy. Comparison of the figures with competitors and overall segment and industry can provide accurate data on the performance of the company.

Since videography services are all about visibility within society and Facebook is a social networking platform which fulfills a similar name of constant visibility within society and the desire to be the focus of attention, along with being connected there is a certain area within personalities of individuals using Facebook and requiring videography services which will overlap. So, Facebook becomes an important factor gaining customer base and also marketing the services.

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