What do upcoming changes to the Facebook Newsfeed mean for your business?

Upcoming changes to Facebook Newsfeed

At the beginning of the year Facebook founder and CEO Mark Zuckerberg promised to make some big changes to improve user experience of Facebook:

The world feels anxious and divided, and Facebook has a lot of work to do — whether it’s protecting our community from abuse and hate, defending against interference by nation states, or making sure that time spent on Facebook is time well spent.

My personal challenge for 2018 is to focus on fixing these important issues.

Source: Facebook

Last night, Zuckerberg went further, announcing on his Facebook feed that user feedback indicates that people are being overwhelmed by business, media and brand posts and that this is “crowding out the personal moments that lead us to connect more with each other.”

Referring to academic research, Zuckerberg says that while personal posts and real connections benefit people, reading articles and watching videos may not.

As a result, the Facebook team is concentrating on updating the News Feed. It will soon start to deliver more content from friends and family, rather than from brand and media channels.

In his post, Zuckerberg predicts that time spent on the platform and engagement would decrease, but would bring long-term benefits to people, communities and businesses in time.

Facebook Newsfeed Changes
Mark Zuckerberg, Extract

 

Facebook & the Big Picture

Facebook is positioning itself as a user-first platform. It aims to regain public trust by limiting the reach of fake news sites and spammy brands.

While Facebook began as a social media platform, it has developed into a fully-fledged marketing platform with a well developed business model. 

Organic reach – or Newsfeed penetration – for business pages has been in decline – dropping 20% in 2017, according to research by BuzzSumo. 

As a result, brands are are spending more on ads; spending grew 23% in the first six months of 2017, reaching $40.1 billion in the U.S. alone.

What might this mean for business?

The Facebook algorithm is now punishing engagement bait, as we outlined in a recent post – 5 Social Media Trends to Watch For in 2018, and is rewarding higher quality and more relevant content.

Zuckerberg’s announcement probably means that only highly engaged fans are likely to see your content in their Newsfeeds, resulting in an even greater push towards sponsored publishing on Facebook.  

We are sure that as the year progresses Business Page reach will fall further and your strategy will have to adapt as a result. Smaller business platforms and media outlets will likely suffer, and those relying on organic reach alone will see a big drop in traffic.

Start strategising your content distribution and think about your budgets accordingly!

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The one key metric guaranteed to help your startup grow

Help your startup grow with


Are your clients saying good things about your startup? Let’s find out.

Metrics bring targets, focus, and scary pivots to startup teams. George Chilton, Creative Director of Hubbub Labs and prolific tea drinker, looks at one metric he believes could be the difference between life, death and impressive growth at your startup.

 

When I’m at parties people often approach me and ask, “George, what’s your favourite business metric?”

Okay, that’s never happened. Firstly, I don’t go to parties, and if I did, people wouldn’t approach me. Regardless, I’m here to tell you about Net Promoter Scores (NPS).

The NPS is an effective metric for startups, SMEs and enterprises, because it boils down how well you are serving your clients. What’s more, it’s not pie in the sky. According to the Harvard Business Review, your NPS directly correlates with growth.

So what are Net Promoter Scores, exactly? And why do they work so well?

Your company’s NPS can range anything from -100 to 100. The higher the number, the happier (and more evangelical) your client base is.

Finding out your NPS is, understandably, a little nerve-wracking, especially if you own a new business or startup. It’s akin to turning on the house lights in a theatre; you’re either going to see happy smiling faces, or a bunch of angry people about to hurl tomatoes.

But whatever the result, it gives you a solid baseline to work from, and a chance to dodge those rotten vegetables.

NPS enables you to focus on your clients and their needs, which is especially great news for startup CEOs and founders, who find it increasingly difficult to stay on track as their startups grow.

How do I calculate my company’s NPS?

Like all the best metrics, it’s stark and to the point.

First, survey a statistically significant sample of your clients – or contact them all, if you’re a smaller company. Simply ask:

On a scale of 0-10, how likely are you to recommend our service to your friends or colleagues?

Then, deciding whether someone is a detractor (D), neutral (N), or a promoter (P) is simply a matter of looking at their score. If a client responds with anything from 0-6 he or she is a detractor, 7-8 and your client is neutral, 9-10 means he or she is a promoter.

Finally, to calculate your company-wide score, simply take away the percentage of detractors from the percentage of promoters. Here’s an example:

You have 1000 results. 200 results ranged from 0-6; 300 were from 7-8; the remaining 500 were in the 9-10 bracket.

Your percentages would be as follows:

20% – D
30% – N
50% – P

PD = NPS

So here your NPS is 30.

Easy right? So easy it’s worth doing right now.

How do I know if my score is good or bad?

Your score can be positive, or negative, even zero – and the higher it is, the better your company is serving client needs and exceeding expectations.

Context is everything, so if you want to see how you fare against your competition, SurveyMonkey offers industry benchmarks.

What do I do now?

  1. Run the survey and make NPS a company focus. Each department should be aware of the NPS and its consequences.
  2. Strive to increase this metric. It will focus your team – at all levels – on seeing things from the customer perspective.
  3. Rinse and repeat. Regardless of your current NPS, if you focus on pushing it up, you will see improvement in feedback, UX, revenue, referrals, reviews, and a whole range of good things.