273 karma · joined March 8, 2012
I'm curious - what's the name of the product you're building?
It's different from a widget in that Awesomebox gives you infinite staging environments - if you push 10 different ideas, and then invite a few people, they can easily switch between different versions without you having to manage multiple servers. In our experience, this is really important when working through new ideas or designs with clients or managers.
Does that help answer your question? Happy to explain more if not.
http://www.modernluxury.com/sites/default/files/imagecache/s...
Geography fail.
This allows me, as a Facebook user, to complete my profile and declare that I like something, even if the marketing that the associated Page is doing isn't something I want to see.
This ensures that profile information remains accurate, which is critical for ad targeting - people don't start unliking things they actually like, just to avoid annoying marketing. The interest graph remains intact even when brands make poor marketing decisions.
One note: the $3 I noted in the article actually isn't CPM, it's Cost-Per-Reach, or Cost Per Unique Impression. This is an important distinction because most digital/display advertising functions on a CPM basis, where one person might see an ad multiple times. On Facebook, when a Page promotes a post, that post is only displayed to that user once.
Brands have a tendency to abuse the trust of someone opting-in, whether that's on Twitter, Facebook, Email, etc. When this happens, most people aren't aware enough to understand the cause and effect - instead of blaming the brand for being spammy, they get frustrated with Facebook.
The News Feed Algorithm and Sponsored Stories are Facebook's way of ensuring a better user experience. By pushing brands to pay a small price for distribution, Facebook gets brands to think about what they're publishing and to take advantage of the targeting options that Facebook makes available, so that their content reaches the right people.
https://developers.facebook.com/docs/reference/ads-api/optim...
Whether it makes sense for them to advertise on Facebook - that'll be up to them to test, but events are a pretty tried and true marketing technique.
Also, most big companies in the world actually are trying to figure out how to use Facebook Ads right now. The problem is that most haven't figured out how to create a compelling enough value proposition - I click on the ad, but what compels me as a user to take the next step? It's a big challenge for companies and agencies who are accustomed to being able to pay for captive audiences.
For some startups/companies, though, there is a pretty clearly defined audience, or a big competitor with an audience to target. If I'm Hipmunk, I can run ads targeting Kayak, Hotwire, Expedia, to go after people who I know book travel online (and then, of that subset of people, target only people who match certain demographic/geographic parameters).
To me, it shows the power of combining native Facebook functionality like Events with Facebook Ads.
There are certainly a lot of forums out there too, but most of them aren't local to one area, so most of the sales are online (I did a lot of business through these forums in the past).
In retrospect, it would have been rad to run this as a fully fledged A/B test. I honestly just didn't know that the ads would have quite the impact that they did.
The other advantage that I didn't fully realize until I started running the ads is how the activity within the Facebook Event serves as a reminder for people to show up - we see tons of ads for events every day that we want to go to, but very few of them ever make it onto our calendar the way that Facebook Events do with one click.
My argument isn't that Facebook Ads are the be-all end-all marketing channel - just wanted to share my experience with them. YC folks - feel free to ping me if you want help spinning up some Facebook Ads - always down to help folks out.
Right now though, I'm having a blast working on Facebook Analytics with my team at PageLever.
Commercial products are tougher, but they also have agencies whose job it is to spend time and money figuring out how to reach people. As I said, I spent about 30 minutes creating these ads.
A big part of what I like about Facebook is that it enables me, as a business owner, to compete on an equal playing field with massive Fortune 500 companies, and in this case benefit even more from Facebook Ads than they do. That's huge for anyone doing anything disruptive, whether it's a startup, a local business, or anyone competing with the status quo.
I still have some records left over, thinking about doing another sale, would be game to test another means of customer acquisition and report back with results.