Most everyone, and I mean everyone, worldwide has heard of Facebook and it going public. The company’s initial public offering although mired in controversy raised vast amounts of money and made billionaires overnight. This debacle has generated investigations and studies as to how IPOs and valuation of future offerings will be handled. Lessons to be learned. Also the monetization dilemma still perks and I am confident will be resolved to satisfy the many waiting to invest ad campaign budgets into this new breed of channel. Facebook has been something of a test tube for marketers and in fact has tought some valuable lessons on how to build a successful brand. Consider the Facebook way of brand building…
- In 8 short years, with more than 3,500 employees, offices in 19 countries, and 900 million active users, the name Facebook has become recognized in almost every household. It really does not matter how you define your household: single, married, kids, grandparents, etc. Facebook has touched us all. So, if you want to create a long-lasting brand, embrace everyone. Also you need to research how your product or service fits a need, determines a better way to do something, or exceeds all other product or service options. Do not leave out the possibility that you may have a product or service that can be enjoyed by many audiences.
- Facebook provided a way to easily connect with long-lost friends, colleagues, family members, etc. Even with all the technological advances, previous to Facebook, there was no easy way to reach out to friends from high school from 10, 20, or even 30 years ago. So, if you want to create a long-lasting brand, offer connections with a common interest. You can find on Facebook endless examples being applied to individuals, clubs, associations, businesses and industries.
- Facebook also provided a way to use applications while simultaneously keeping all users on its site and remain in the Facebook community. This allowed users to continue to receive email messages, instant messages, friend and family updates, etc. All while they were playing a favorite game, listening to a favorite music selection, watching a favorite video and many other applications. So, if you want to create a long-lasting brand, provide the integration of applications to retain and satisfy the interest of the consumer.
- Facebook’s earliest versions centered on photographs and users still rate photo sharing as a key competitive advantage for this social networking site. But do photos, illustrations, drawings, and other graphics have value in your industry? How about for your business? So, if you want to create a long-lasting brand, decide how best to showcase your product or service. Once you have an answer, develop the images and share them with your customers, prospective customers, and media.
- Facebook’s mission is clear. “Founded in 2004, Facebook’s mission is to make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.” At no time was there any question as to the purpose for the company. The lesson to learn is, if you want to create a long-lasting brand, define your mission and be consistent. Do not ever waver from your core mission for the sake of your leadership team, employees, and customers.