Some amazing stats from the Mediabistro AllFacebook Marketing Conference this morning, where Vincent Sider, VP of Social Media for the BBC's commercial arm, BBC Worldwide, bemoaned the impact of Facebook's new EdgeRank algorithms. For anyone who's not run into this problem, Facebook recently tweaked its backend settings to prevent so much corporate content from reaching Fans' News Feeds. As a consequence, some brands' posts are now reportedly seen by as few as 6% of their Fans. Yep, just six percent. Pretty hard to get return on that investment.
This has hit BBC Worldwide hard. Vincent reported that Facebook's EdgeRank changes resulted in 27.8% fewer visits from Facebook to the Top Gear website, while average daily reach as a % of fans plummeted from 38% in July to just 14% in October. The net result? A loss of revenue of £139,755 for Top Gear.
Facebook's solution? If you want to reach more people, you should consider promoting your great content with sponsored stories and paid-for promoted posts. That's fair enough - they're a business. But, Vincent Sider reckons that he'd have to spend £300,000 each and every month to make up the shortfall in referral traffic, which is simply