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Is a Facebook Page a Complete Social Media Strategy for Your Brand?

Jun 5 at 3:03pm by

Does anybody really want to sign up for a social network for enthusiasts of their local telecommunications company? The answer is apparently no, as Verizon is shutting the doors on a social network of sorts that it had been running called “Verizon Community.” According to Justin Smith, the company is moving its social networking presence over to a Facebook Page in a couple of weeks.

While as we know, social networks come and go every day, when a $100+ billion company decides that its social networking needs are better met by Facebook than themselves, it says something for where the business of branded social networks might be headed. Of course, it’s a different game for branded social networks versus entrepreneurs launching what they hope will be the next MySpace. As opposed to trying to attract millions of eyeballs and monetize them with ads, branded social networks are less about profitability and more about creating loyal and engaged customers that will ultimately create revenue in more conventional ways (in Verizon’s case, customers renewing their mobile contracts).

So why might Verizon give up on owning its social networking and instead use a Facebook page? Here are what I see as the major advantages:

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Is a Facebook Page a Complete Social Media Strategy for Your Brand?