An early look at the new Facebook feeds seems to put focus back on consumers and what they want. A lot more focus on what matters to people who use Facebook and come back every day. Facebook has 60% retention rates (that’s amazingly high for such a giant product). Which means the only way they can survive is to answer a simple question:
Why will our users keep coming back?
The product manager and Tech lead working on this revamp of feeds clearly suggested that consumers wanted to get back in control of their feeds and what they want to see and there is no other way but to give consumers what they want. BIGGER> BOLDER> BETTER seemed to be the mantra in re-design along with building consistent experiences in multiple devices. Also, some knobs have been given to FB users to pick and chose their own feeds!
This means FB users will now have full control over what they see in their feeds and they can segregate Friend Feeds from Brand feeds. Which basically means that companies that have heavily invested in Brand pages will have no option left but to invest more in Advertising (promoting) their page feeds, otherwise, the engagement levels will drop drastically and the brand page investments will go to sh!#.
So, from the point of view of Consumers, Investors it’s a #Win, while the Brands will have to spend much more now in advertising and creating new content! The engagement levels are bound to go down without promotions. Also, there was no clear mention on edge rank’s relevance anymore as the users will have control on what they want to see (more like chronologically?).
So in simple words, brands will have to spend much more on page promotions, while they have to continue to spend on direct advertising. I am sure some brands who have made heavy investments in building fan page audiences and engagement platforms are surely going to get pissed.
Though, I would spend more time interacting with the FB team to understand this better and get more information about how this will impact the brands. Till then, happy spending, this hits PC/Laptops starting today!