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Facebook Offers: What Are They and How Do They Work?

Facebook just rolled out a new feature which allows companies to make offers to their customers or prospects on Facebook that they can claim and share with their friends. Brands can now set up an offer that can be redeemed in store, online or both. And, you can expand your brand’s reach because Offers includes special news feed stories that tell people when their friends claim them. You can even add features to track redemptions, such as special redemption codes or barcodes.

The first time you try Offers it is free, but will have limited reach. There after, all Offers require a budget.

Where do you find Offers?
Right on your Facebook Fan Page in your status update box, next to Event or milestone. However, two things:

  • Your ‘voice’ must be your Page, and
  • Your Page  must have a minimum of 400 likes to have the option

Facebook Offers

Once you select Offer from the pull down you can choose to make it In store only, online only, or both.

How do they work?

For online only, you’ll enter the destination URL where people can get our offer. And you can also add an additional redemption code which will help you figure out if whether or not the offer was redeemed from Facebook engagement.

For In store only or both, you’ll be asked to add a thumbnail image, write a headline for your offer (max 90 characters), determine the # of offers you’d like to be claimed, enter a barcode if you wish, an expiration date, and terms and conditions.

When you’re happy with the preview, you can click Set Budget, and then click Share.

How much do they cost?

The cost is based on the reach when you set your budget.  You can pick one of the suggested budgets from the drop down menu or create a custom budget in Ads Manager by checking the box next to Promote later using another Facebook Ad tool. 

You can even schedule a launch time for your Offer to start.

The Pros and Cons for Brands

When a user claims an Offer, a story about it will get added to their timeline, thus expanding the reach of your brand. By default the story is available to their friends, however, they can change the audience to friends, friends except acquaintances, only me, and custom.

For customers, they can certainly hide your offer or all posts from your Page from their news feed, but there is no setting to allow users to hide all offers from their news feed. It’s on a company by company basis.

All in all, it gives a brand the ability to engage with their constituents by offering discounts and freebies within the Facebook framework.  It’s a great addition to their ad platform.

What do you think? Thumbs up or down? Take the poll.

 

 

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About Tracy Sestili

Tracy Sestili is CEO and Chief blogger at Social Strand Media. She is also the author of Taking Your Brand from the Bench to the Playing Field -- Social Media Fundamentals for Business.