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By Clara Shih

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Extra resources for How to Make Money Marketing Your Business on Facebook

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Assign an owner and educate your organization. Hire or assign a social media director, a companywide owner who sits on the executive team (or in marketing) who coordinates social media efforts across the organization. , have had success with convening a social media task force consisting of representatives from various departments. People are most afraid of the unknown, so educating employees on how to achieve their personal and department goals using Facebook mitigates their natural resistance to change.

5. Measure, learn, and iterate. After you’ve decided on goals, it is useful to define metrics around these goals to help define what success means, determine the appropriate level of investment, and measure direct value to the business. ” Over time, comparing results from one Facebook campaign to another, as well as across different marketing mediums, will enable you to determine how best to allocate resources across your various marketing channels. In addition to these more traditional measures, it’s likely we will need to develop new measurement techniques.

A common situation that many large brands find themselves in is that by the time they get serious about engaging on Facebook, fans have already beat them to the punch and have created unofficial Facebook Pages or Groups. Take Ferrero, the European chocolate maker whose products are popular and loved around the world. In 2008, Ferrero executives discovered a zealous fan had created a Facebook HOW TO MAKE MONEY MARKETING YOUR BUSINESS ON FACEBOOK Page for Ferrero Rocher, one of their most popular products.

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