Assessing International Responses to Social Media Campaigns is Risky Business for Cord Blood Banks
Recently, BioInformant wrote about the cost of winning the term “cord blood” on Google Adwords having reached nearly $40 per click in the U.S. and more than $20 per click worldwide, which is down-right shocking. It is now one of the 20 most expensive search “terms on Google, competing with terms that include: Insurance, Loans, Mortgage, Attorney, and Credit.
Given these exorbitantly high costs of Google advertising, the question becomes, what other alternatives do you have available? The immediate response that I get when I pose this question to clients is “Facebook advertising.”
Believe me, I am a Facebook fan. I enjoy it personally, and more importantly, within the United States (the country with the greatest volume of Facebook users) users aged 18 to 34 represent nearly half of all active users. This makes Facebook an ideal platform through which cord blood banks should establish a digital presence. We also recently posted about how the inherent chemical addictiveness of Facebook can also help your cord blood bank with gaining significant traction within the marketplace.
However, I’ve recently consulted for a number of people who have elected to do Facebook promotions to generate “likes” for their cord blood bank.
This is where I insert a HUGE warning: Do Facebook promotions for your cord blood bank or stem cell company at your own risk.
Facebook Fraud Can Hurt Your Cord Blood Bank (or Stem Cell Company)
I could explain the situation myself, buy my colleague Derek Muller (@) has done an exception job of bringing clarity to the current situation.
If you’re currently promoting the Facebook page for your company – or you are even thinking about it – you need to watch the video below. It’s gone viral with nearly 3.5 million views.
I promise you, it’s worth every second of your time to watch this 9 minute video!
Facebook “Direct Response” Promotions
So far, it seems are that direct response promotions on Facebook are not affected by this fraud, but with Facebook’s lack of control surrounding its promotional platform now, it’s an area that we’ll be watching closely. For instance, Cord Blood Registry is currently running an advertisement that offers “Click Here to Enter Free Cord Blood Banking” and then leads viewers off-site to entering a drawing on their website. This is a safer application of Facebook marketing for cord blood banks (and stem cell companies) to consider
Enjoy, be safe out there, and use Facebook’s “promote your page” function with extreme caution.
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BioInformant is the only research firm that has served the cord blood sector since it emerged. Our management team comes from a BioInformatics background – the science of collecting and analyzing complex genetic codes – and applies these techniques to the field of mark research. BioInformant has been featured on prominent news outlets including the Wall Street Journal, Nature Biotechnology, Medical Ethics, CBS News, and the California Institute for Regenerative Medicine (CIRM).
Serving Fortune 500 leaders that include GE Healthcare, Pfizer, Goldman Sachs, Beckton Dickinson, and Thermo Fisher Scientific, BioInformant is your global leader in cord blood industry data.
To learn more about emerging trends and opportunities within the cord blood banking industry, view the “Complete 2015-16 Global Cord Blood Banking Industry Report” now.