Michel, I agree with you 100%. I hear many marketers talking about these social networking sites and the main question I always ask myself is... Is it targeted? Why try to use it as a marketing tool if it's not getting you targeted visitors, heck maybe a lot of pageviews but that's it, it's more for fun. I use myspace and because myspace is more familiar with and it's a great branding tool, connect with other go-getters. It is time consuming though, but I only check it about 1 time a week now, because it can get addicting :-)
AndyBeard
· 2 years ago
I don't look on Facebook and and to a lesser extent even blogging (on my primary blog) as a way to attract customers. For me both of them are more to find suitable JV partners and to establish a reputation. Whilst you might not gain direct traffic, you might gain traffic from the people you meet on facebook, as there are some powerful bloggers using Facebook depending on your niche.
I am really interested in how Sherman's new group progresses - he has uploaded so many videos
Joseph Ratliff
· 2 years ago
Michel,
I don't think we should exclude by any means the value of marketing in the social arena (such as Facebook, Myspace, etc...).
But I do think that the concept is underdeveloped still.
I think that you will see communities develop within Facebook (some have already started) where marketers and people looking for specific types of information or social group will start to gather.
When that happens...there is a targeted market.
So I guess the secret will be, wait for the social sites (or help the social sites) target your market for you.
Just my two cents.
Joseph Ratliff Author of The Profitable Business Edge 2
Michel Fortin
· 2 years ago
@Terrance:
Exactly.
@Andy:
I agree 100%. Good points. Some people have used Facebook with great results, particularly through Facebook Groups. Sherman's is a great example.
Michel Fortin
· 2 years ago
By the way, here's an interesting video by my friend Jason Moffatt on the same subject, and his thoughts, which reflect mine... but I must warn you, Jason uses strong, sometimes coarse language. So this is not for the easily offended.
Precisely. Facebook will attract anyone and everyone. And it needs to offer what it does in order to cast a wide net as possible. It's not so much Facebook in itself that might prove beneficial but its groups.
Common-themed groups are great locations for targeting markets and are no different than, say, niche-centric or topical blogs, forums, or communities.
And that's what MySpace, for example, misses out on that Facebook delivers so well. But it is laborious... so if you can outsource it to someone, then it would be no different than, say, having moderators work your forum or freelancers doing forum marketing for you.
(And that is a whole other ball o' wax.)
Warren Whitlock
· 2 years ago
Sounds like you're trying to just social networking sites by comparing them to other "media"
Facebook does have value there.. the ad rates are very low and targeted.
But to write of the communications with cusomters and prospects possible through Facebook is like deciding not to take a phone call or to avoid individual emails.
Just like the phone and email.. you have to learn it and set up routines that work for you. The only suggestion I have thus far.. NEVER relagate it to a VA.. if you can't communicate yourself, it won't work. (you could have a VA set up a profile.. that works because it's still personal).
I understand the reaction. I've alwasy felt the same about Instant Messaging or chat.. other love it.. I find it sucks me in and diverts attention.
I'm spening way too much time on Facebook right now.. calling it a learning curve. So far, I'm working on three brand new 5 figure clients and hooked up with several past JV partners that had stopped answering emails.
Oh.. and there's one famous author who's my new freind. (you'll have to check my profile to see who)
The personal time it takes to post on FaceBook trying to brand is just not worth it. And I personally cant stand all the goofy apps. I get shoved my way.
I DONT WANNA BE YOUR "BFF" and dont want your "ZOMBIE BITE" b.s.
Outsource if you want to use it for commercial reasons but dont become a junkie!
RJ (Ron) Purvis
· 2 years ago
Hi guys,
You know, I avoided Facebook for the simple reason that it is so easy to get distracted by - a couple years MSN almost got me (I got dumped on MSN which really sucked - and put me off it forever, lol), I avoided Myspace, and was trying to do with Facebook. But recently I've been getting "poked" almost once a day by someone - so I caved and got on there. So over the weekend I started to think about whether or not there was any online marketing benefit to it. Michel, you answered my question - and some of the other points here have also added some perspective to it. So thanks for that.
By the way, I am anxiously awaiting a spot opening in your new coaching program. I was only able to skim the report last week and set aside time to read it in depth on the weekend. Of course, I should have known - I left it to long when I went to sign up Sunday (i think?) it was too late - but Iread the letter thoroughly and frankly, it was excellent. So you got me. lol
Anyways, great article. Thanks.
malin tisell
· 2 years ago
One of the best copywriters around is the baldchemist. I'm sure the two of you will have a lot in common. www.thebaldchemist.com I use face book on a regular basis but only to keep in touch with friends and relatives. My own feeling is that are far too many trying to cash in on SEO and all the other uninteresting crap Welcome those of you who really know how to entertain and create great business opportunities. Thanks for the article. I
TL Chen
· 2 years ago
Ffacebook is viable for developers who are making small applications for facebook's users.
Article from this month's business2.0 on how developers are making small apps and making money of facebook users.
I have been following Michel (on and off) before he had his wordpress blog (how many years is that?) and i also have the same feeling that some bookmarking (social networking) sites are becoming less functional [quote: (And spamming on social sites is becoming just as prevalent as its email cousin, unfortunately.) ]
My question is, has anyone heard of Web 3.0 (not web 2.0)?
BTW Michel, I am adding you to my essential list of sites (blogroll!) I think you fully deserve the "Honorary Mention".
C.S.Radhakrishnan
· 2 years ago
I enjoyed that tongue in cheek comment on the Face book as a Marketing tool. Unless you are prepared to work it probably no tool would ever get up on its own and do some work for yu. A good way of teasing folks into ACTION! Congrats Michel
C.S.Radhakrishnan
· 2 years ago
It remained to be mentioned inmy post today that every new phenomenon on the net has its novelty value for a few months, until someone begins to call it "ancient" . Till then it has a marketing potential in the sense that the crowd there will be somewhat homogenous and can be somebody's targeted audience.
richi
· 2 years ago
Great blog. I really liked it. I have also created a lens in same niche. This is my first time, hope u guys like it. Here's a brief intro: So you've decided to enter the world of internet affiliate marketing. It may not always be easy. If you want to be ahead of the competition and achieve more than just moderate success, then you need a good affiliate internet marketing tip or two. http://www.squidoo.com/Top-4-Affiliate-Internet...
Dr.Mani
· 2 years ago
Michel, I recently blogged about which was the 'best' social networking tool - and mentioned why I decided NOT to go ahead with my testing of Facebook.
I however won't condemn all Web 2.0 marketing as a 'waste' - I'm finding Twitter quite interesting, and Seth Godin has a short 6-minute video on his blog that's an eye-opener about the use of Web 2.0 (or is it Web 4.0 ?!)
All success Dr.Mani
Laurie Hayes
· 2 years ago
Thanks for your post Michel. I started up with Facebook a couple of weeks ago after hearing it had served certain businesses well for driving traffic to their sites. I've chosen to build a business community using this platform.
I'll commit a brief period of time to building and testing to see what kinds of results it produces.
If anything, it may just turn out to be a fun place to meet people. My husband started his own account a couple of days ago. He's a computer nerd and normally shudders at the thought of sitting down at a keyboard, BUT ... he's already found two long lost school mates and they're talking, so he's pretty excited about it.
Thank you for sharing your explorations with us Michel. I appreciate learning from the best.
Laurie Hayes The HBB Source
Franck Silvestre
· 2 years ago
I just got started with Facebook (Ed Dale showed us), I think I will benefit from leverage.
So from this point of view, it can be a good marketing tool in my arsenal.
Michel Fortin
· 2 years ago
Great points. And yes, this is where the real money is, as Jason Moffatt said in his video: developers who create applications and platforms are the ones who make the most money with Facebook.
But now we've got another phenomena occurring... how many times are you hit with new applications every single day? From SuperPokes to Zombie Bites. Me, at least two or three a day.
So the new app arena will become (if it isn't already) just as spammy, I fear.
Now, that said, here's a strange piece of news... Facebook just announced this morning (funny that!) that it will launch it's new public profile system. That is, that your profile can be seen and viewed by search engines, like Google, allowing you to be indexed in them.
Now, that is interesting! I see another test coming...
most internet marketers i talk to 'poo-pooh' the idea of using these social networking sites to get traffic and generate leads for their business.
i believe it's only because they haven't figured out how to use them in the proper way these sites were designed.
if you try to use these sites to sell, sell, sell, and pitch, pitch, pitch your products and services... that just pisses people off and they won't want to work with you.
but if you learn to utilize these sites in the proper way they were designed, you could literally make a killing off of these social networking sites.
i myself have been able to generate over $400k in sales using nothing more than MySpace and YouTube over the last 6-months alone.
(*yawn*... no big deal.)
however, i didn't go at it with the traditional ways of marketing like most other internet marketers. i had to test different things to figure out what works best on these social network sites.
and based on my results...
i can tell you, you don't want to overlook this marketing medium.
most other people just mis-understand these social networking sites, or they just don't appreciate what's available to you.
but really... you can make it work if you're willing to test out different things and crack the code just like i did.
i'm living proof that it works.
and i just thought i'd add my $0.02 cents.
peace out ya'll! -- dk
ed
· 2 years ago
I think you're a communications genius. Thanks.
ed
Elizabeth Purvis
· 2 years ago
I think "discommend" may be my new favorite word. :)
The question of whether Facebook is viable for marketing aside, in my experience (and that of those on my friends list, from what I've heard), Facebook is the place that people in my circle use to, you know, actually keep in touch with their friends, as opposed to blasting notifications and press releases and "my new book is coming out" and all the other things that go along with getting work and products out in the world. I rather appreciate that about it, and that's what I'll be using it for.
On MySpace, I have a huge friends list, but my Facebook profile will be deliberately kept small. Like you said, it's fun!
On the fun tip, one thing that I find interesting about Facebook is all the different apps you can add to your page. That also sets it apart from Myspace in my book. I mean, where else can I give zombie hugs? (OK, so the question of "why would I want to" is beside the point. :) )
Chang
· 2 years ago
I've success through myspace with my closest friend but donno about facebook... i thought facebook has tight security on marketing purposes, maybe some of our friend could help
John Morris
· 2 years ago
Yeah, there's a really big perspective shift when marketing on social sites like facebook compared to regular search marketing. It's about giving people what they want where they want it.
People in forums and search engine results are looking for specific solutions to specific problems and they EXPECT to be pitched (for the most part). So, if you're pitching, then you'll get better results there.
The thing to do with social sites is free content. That's what they want. "Move the free line" a little further with social sites and not only can you get traffic, but you get viral traffic that keeps coming without you doing anything.
The perspective shift is to look at forums and search marketing like malls... people go there to BUY stuff.
Then, look at social sites as communities. People "live" and hang out there.
If you went walking downtown of a local community screaming, "Buy, buy, buy"... definitely, your response would be low... no matter how compelling your offer.
But, if you went door to door and gave every person you met a free "whatever"... something that made their lives better... with a little ad at the bottom of the packaging showing them where they can get more... you'd get a better response. It's about establishing yourself (NOT as an authority, per se) as a BENEFACTOR in the community... someone who gives, gives, gives.
Like John Reese says, "Do favors for people... don't make promises". Or, as Eben Pagan says, "Like getting the short end of the stick".
If you GIVE more in social sites than you try to take... you'll end up being GIVEN more back than you can probably handle.
By the way, it's probably a good idea to get good at this now... because this is the way the internet seems to be going. Many people think social sites and web 2.0 and all that is just a trend...
I predict otherwise. One big sign is that Mike Filsaime is selling off some of his sites and has publicly stated he is moving toward building community sites. That should be a hint.
Another hint should be that John Reese has spent large amounts of time building his own community site... income.com.
So, ways to get the most of this...
1. Be a BENEFACTOR of a existing community (better if that community is built around a specific idea... ala Zaadz).
2. Create YOUR OWN community around a specific idea... ala Michel Fortin and his blog :-)
Alright, there's enough there for you to figure it out. I'm spent.
I beg to disagree with you on the aspects of whether Facebook is a waste of your time. Like all products, services and affiliate programs you have to express the right mix of marketing mentality to the buyer. The only way to win the final "point of sale" is to know the current thinking processes of the buyer otherwise you are relying on the "luck of the draw".
I don't know what product you targeted for promoting on Facebook. The statistics show that this is a younger College group and it just happens to show that this group has a deep pocket book to the tune of 100k a year. This tells me that they have parents with the credit cards and are in favor of departing with some of that credit line to further their kids "education" (keyword here). The kids on the other hand are a bit more focused on the socialization developed around the college atmosphere. The hook would be to find the happy medium.
By socializing on Facebook, you make yourself familiar to the group, alleviating the fear of you possibly scamming them with marketing hype. That's basically all you accomplish from the marketing a product aspect. The profitability comes in with presenting your offers through setting up a campaign through their Fliers program. Your Facebook profile and layout will enforce that campaign.
Had you used an approach in a campaign, let's say: "Quickly Learn to Ace an Essay in Record Time and Party Harder Tonight", using the Flier system, your case study probably would have turned out much different.
I am reluctant to discredit Web2.0 as a viable marketing resource. I do believe that it is a developing marketing from an IM stand point. I commend that, as with all sites, the probability of a favorable ROI still relies in the Consumer Demographics of the medium you choose to use.
Michel Fortin
· 2 years ago
@Debra:
I since posted a clarification several days ago, which answers a lot of what you just said:
Hi, Now-a-days social networks are getting more popular and popular.Its helps some way to market our product.I am using Plugim, bluedot, furl, squidoo, myspace etc.These are really helpful for me to promote my products. These are great branding tool, connect with other go-getters.it is probably better to find a more focused niche that is more applicable to your content or services and try marketing there first. Not only will you face less competition but simply by virtue of it being a more focused niche, whatever conversion you do get will be much better.
kpli
· 2 years ago
i used facebook but full of kids there
Chris
· 1 year ago
I just started using a facebook as part of the SMARTS program. It does seem like a great way to connect with friends but can also be pretty addicting at the same time, which can end up wasting a ton of time.
I haven't seen a good way yet to monetize facebook for my own businesses and definitely seems like a lot of legwork to do it and that outsourcing that leg work would be key.
A few years back I got a ton of clients from Myspace for my local based personal training business, but also ended up with a lot of flakes and people who would come in for a trial workout but couldn't afford my services.
Today the amount of work it takes for me to get good prospects from Myspace isn't worth it any longer and am thinking of stopping that campaign, even though it's all outsourced, the ROI isn't there anymore.
Plus now there's so many marketers and spammers on there that it's hard to tell if someones a real person or the profile has just been created by some spammers
I would agree with Michel that so far the biggest benefit I've gotten out of facebook is that's it's just plain fun, and connecting with people and old friends on there is pretty neat.
Bedros Keuilian
· 3 months ago
I stumbled upon a killer way to use facebook recently. I use the facebook advertising system, but instead of sending people to a squeeze page I ask them in the ad to "friend me". I get 12-20 qualified leads each day plus I ONLY pay for the clicks and not the impressions of my face and name (which brands me)
Other than that I really have not found found facebook to be a major marketing funnel.
All Comments
Whilst you might not gain direct traffic, you might gain traffic from the people you meet on facebook, as there are some powerful bloggers using Facebook depending on your niche.
I am really interested in how Sherman's new group progresses - he has uploaded so many videos
I don't think we should exclude by any means the value of marketing in the social arena (such as Facebook, Myspace, etc...).
But I do think that the concept is underdeveloped still.
I think that you will see communities develop within Facebook (some have already started) where marketers and people looking for specific types of information or social group will start to gather.
When that happens...there is a targeted market.
So I guess the secret will be, wait for the social sites (or help the social sites) target your market for you.
Just my two cents.
Joseph Ratliff
Author of The Profitable Business Edge 2
Exactly.
@Andy:
I agree 100%. Good points. Some people have used Facebook with great results, particularly through Facebook Groups. Sherman's is a great example.
He calls it "The Meat Report":
http://www.jasonmoffatt.com/dir/249
Precisely. Facebook will attract anyone and everyone. And it needs to offer what it does in order to cast a wide net as possible. It's not so much Facebook in itself that might prove beneficial but its groups.
Common-themed groups are great locations for targeting markets and are no different than, say, niche-centric or topical blogs, forums, or communities.
And that's what MySpace, for example, misses out on that Facebook delivers so well. But it is laborious... so if you can outsource it to someone, then it would be no different than, say, having moderators work your forum or freelancers doing forum marketing for you.
(And that is a whole other ball o' wax.)
Facebook does have value there.. the ad rates are very low and targeted.
But to write of the communications with cusomters and prospects possible through Facebook is like deciding not to take a phone call or to avoid individual emails.
Just like the phone and email.. you have to learn it and set up routines that work for you. The only suggestion I have thus far.. NEVER relagate it to a VA.. if you can't communicate yourself, it won't work. (you could have a VA set up a profile.. that works because it's still personal).
I understand the reaction. I've alwasy felt the same about Instant Messaging or chat.. other love it.. I find it sucks me in and diverts attention.
I'm spening way too much time on Facebook right now.. calling it a learning curve. So far, I'm working on three brand new 5 figure clients and hooked up with several past JV partners that had stopped answering emails.
Oh.. and there's one famous author who's my new freind. (you'll have to check my profile to see who)
Warren Whitlock
http://ZeroCostPromotions.com
I think it goes back to productive time for me.
The personal time it takes to post on FaceBook trying to brand is just not worth it. And I personally cant stand all the goofy apps. I get shoved my way.
I DONT WANNA BE YOUR "BFF" and dont want your "ZOMBIE BITE" b.s.
Outsource if you want to use it for commercial reasons but dont become a junkie!
You know, I avoided Facebook for the simple reason that it is so easy to get distracted by - a couple years MSN almost got me (I got dumped on MSN which really sucked - and put me off it forever, lol), I avoided Myspace, and was trying to do with Facebook. But recently I've been getting "poked" almost once a day by someone - so I caved and got on there. So over the weekend I started to think about whether or not there was any online marketing benefit to it. Michel, you answered my question - and some of the other points here have also added some perspective to it. So thanks for that.
By the way, I am anxiously awaiting a spot opening in your new coaching program. I was only able to skim the report last week and set aside time to read it in depth on the weekend. Of course, I should have known - I left it to long when I went to sign up Sunday (i think?) it was too late - but Iread the letter thoroughly and frankly, it was excellent. So you got me. lol
Anyways, great article. Thanks.
I use face book on a regular basis but only to keep in touch with friends and relatives.
My own feeling is that are far too many trying to cash in on SEO and all the other uninteresting crap
Welcome those of you who really know how to entertain and create great business opportunities.
Thanks for the article.
I
Article from this month's business2.0 on how developers are making small apps and making money of facebook users.
http://money.cnn.com/2007/08/22/technology/face...
]
My question is, has anyone heard of Web 3.0 (not web 2.0)?
BTW Michel, I am adding you to my essential list of sites (blogroll!) I think you fully deserve the "Honorary Mention".
I however won't condemn all Web 2.0 marketing as a 'waste' - I'm finding Twitter quite interesting, and Seth Godin has a short 6-minute video on his blog that's an eye-opener about the use of Web 2.0 (or is it Web 4.0 ?!)
All success
Dr.Mani
I'll commit a brief period of time to building and testing to see what kinds of results it produces.
I was also drawn to test this after reading a post from John Chow at
http://www.johnchow.com/using-facebook-to-incre...
on the subject of increasing RSS subscriptions to your blog using Facebook.
I incorporated my blog into Facebook yesterday.
If anything, it may just turn out to be a fun place to meet people. My husband started his own account a couple of days ago. He's a computer nerd and normally shudders at the thought of sitting down at a keyboard, BUT ... he's already found two long lost school mates and they're talking, so he's pretty excited about it.
Thank you for sharing your explorations with us Michel. I appreciate learning from the best.
Laurie Hayes
The HBB Source
So from this point of view, it can be a good marketing tool in my arsenal.
But now we've got another phenomena occurring... how many times are you hit with new applications every single day? From SuperPokes to Zombie Bites. Me, at least two or three a day.
So the new app arena will become (if it isn't already) just as spammy, I fear.
Now, that said, here's a strange piece of news... Facebook just announced this morning (funny that!) that it will launch it's new public profile system. That is, that your profile can be seen and viewed by search engines, like Google, allowing you to be indexed in them.
Now, that is interesting! I see another test coming...
http://www.warriorforum.com/forum/topic.asp?TOP...
most internet marketers i talk to 'poo-pooh' the idea of using these social networking sites to get traffic and generate leads for their business.
i believe it's only because they haven't figured out how to use them in the proper way these sites were designed.
if you try to use these sites to sell, sell, sell, and pitch, pitch, pitch your products and services... that just pisses people off and they won't want to work with you.
but if you learn to utilize these sites in the proper way they were designed, you could literally make a killing off of these social networking sites.
i myself have been able to generate over $400k in sales using nothing more than MySpace and YouTube over the last 6-months alone.
(*yawn*... no big deal.)
however, i didn't go at it with the traditional ways of marketing like most other internet marketers. i had to test different things to figure out what works best on these social network sites.
and based on my results...
i can tell you, you don't want to overlook this marketing medium.
most other people just mis-understand these social networking sites, or they just don't appreciate what's available to you.
but really... you can make it work if you're willing to test out different things and crack the code just like i did.
i'm living proof that it works.
and i just thought i'd add my $0.02 cents.
peace out ya'll! -- dk
ed
The question of whether Facebook is viable for marketing aside, in my experience (and that of those on my friends list, from what I've heard), Facebook is the place that people in my circle use to, you know, actually keep in touch with their friends, as opposed to blasting notifications and press releases and "my new book is coming out" and all the other things that go along with getting work and products out in the world. I rather appreciate that about it, and that's what I'll be using it for.
On MySpace, I have a huge friends list, but my Facebook profile will be deliberately kept small. Like you said, it's fun!
On the fun tip, one thing that I find interesting about Facebook is all the different apps you can add to your page. That also sets it apart from Myspace in my book. I mean, where else can I give zombie hugs? (OK, so the question of "why would I want to" is beside the point. :) )
People in forums and search engine results are looking for specific solutions to specific problems and they EXPECT to be pitched (for the most part). So, if you're pitching, then you'll get better results there.
The thing to do with social sites is free content. That's what they want. "Move the free line" a little further with social sites and not only can you get traffic, but you get viral traffic that keeps coming without you doing anything.
The perspective shift is to look at forums and search marketing like malls... people go there to BUY stuff.
Then, look at social sites as communities. People "live" and hang out there.
If you went walking downtown of a local community screaming, "Buy, buy, buy"... definitely, your response would be low... no matter how compelling your offer.
But, if you went door to door and gave every person you met a free "whatever"... something that made their lives better... with a little ad at the bottom of the packaging showing them where they can get more... you'd get a better response. It's about establishing yourself (NOT as an authority, per se) as a BENEFACTOR in the community... someone who gives, gives, gives.
Like John Reese says, "Do favors for people... don't make promises". Or, as Eben Pagan says, "Like getting the short end of the stick".
If you GIVE more in social sites than you try to take... you'll end up being GIVEN more back than you can probably handle.
By the way, it's probably a good idea to get good at this now... because this is the way the internet seems to be going. Many people think social sites and web 2.0 and all that is just a trend...
I predict otherwise. One big sign is that Mike Filsaime is selling off some of his sites and has publicly stated he is moving toward building community sites. That should be a hint.
Another hint should be that John Reese has spent large amounts of time building his own community site... income.com.
So, ways to get the most of this...
1. Be a BENEFACTOR of a existing community (better if that community is built around a specific idea... ala Zaadz).
2. Create YOUR OWN community around a specific idea... ala Michel Fortin and his blog :-)
Alright, there's enough there for you to figure it out. I'm spent.
John Morris
http://www.ExplodeYourVision.com
I beg to disagree with you on the aspects of whether Facebook is a waste of your time. Like all products, services and affiliate programs you have to express the right mix of marketing mentality to the buyer. The only way to win the final "point of sale" is to know the current thinking processes of the buyer otherwise you are relying on the "luck of the draw".
I don't know what product you targeted for promoting on Facebook. The statistics show that this is a younger College group and it just happens to show that this group has a deep pocket book to the tune of 100k a year. This tells me that they have parents with the credit cards and are in favor of departing with some of that credit line to further their kids "education" (keyword here). The kids on the other hand are a bit more focused on the socialization developed around the college atmosphere. The hook would be to find the happy medium.
By socializing on Facebook, you make yourself familiar to the group, alleviating the fear of you possibly scamming them with marketing hype. That's basically all you accomplish from the marketing a product aspect. The profitability comes in with presenting your offers through setting up a campaign through their Fliers program. Your Facebook profile and layout will enforce that campaign.
Had you used an approach in a campaign, let's say: "Quickly Learn to Ace an Essay in Record Time and Party Harder Tonight", using the Flier system, your case study probably would have turned out much different.
I am reluctant to discredit Web2.0 as a viable marketing resource. I do believe that it is a developing marketing from an IM stand point. I commend that, as with all sites, the probability of a favorable ROI still relies in the Consumer Demographics of the medium you choose to use.
I since posted a clarification several days ago, which answers a lot of what you just said:
http://www.michelfortin.com/the-gold-is-in-the-...
Now-a-days social networks are getting more popular and popular.Its helps some way to market our product.I am using Plugim, bluedot, furl, squidoo, myspace etc.These are really helpful for me to promote my products. These are great branding tool, connect with other go-getters.it is probably better to find a more focused niche that is more applicable to your content or services and try marketing there first. Not only will you face less competition but simply by virtue of it being a more focused niche, whatever conversion you do get will be much better.
I haven't seen a good way yet to monetize facebook for my own businesses and definitely seems like a lot of legwork to do it and that outsourcing that leg work would be key.
A few years back I got a ton of clients from Myspace for my local based personal training business, but also ended up with a lot of flakes and people who would come in for a trial workout but couldn't afford my services.
Today the amount of work it takes for me to get good prospects from Myspace isn't worth it any longer and am thinking of stopping that campaign, even though it's all outsourced, the ROI isn't there anymore.
Plus now there's so many marketers and spammers on there that it's hard to tell if someones a real person or the profile has just been created by some spammers
I would agree with Michel that so far the biggest benefit I've gotten out of facebook is that's it's just plain fun, and connecting with people and old friends on there is pretty neat.
Other than that I really have not found found facebook to be a major marketing funnel.