Episode 10: Facebook vs Google vs LinkedIn

Which platform to choose for your marketing

Today we look at which traffic platform is the best for your digital marketing: Facebook, Google or LinkedIn?

I remember when I just got started with digital marketing, I didn’t have a clue where to run campaigns. I was stuck. And even worse, every expert I spoke to suggested a different platform.

So I gained my own experience and now, after years of crushing it online, I want to guide you to make the right decision.

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Transcript

Ladies and gentlemen, welcome to episode number ten of the Elite Entrepreneurs show where today I’m going to compare Facebook versus Google versus LinkedIn.

Welcome to our show. As always, I appreciate your time. My objective today really is to answer the question: Which traffic platform? I remember one of the things that really kept me stuck when I just got started with digital marketing is which traffic platform was the best for me. I really didn’t know. At the time Twitter was really trending and I was aware of LinkedIn and I was aware of all Google properties and Facebook and Instagram was just coming online. I was like, “Oh my God, which one would work the best for my business?”
Every expert I spoke to firmly recommended a different platform. That’s like going to three different dietary specialists, and one will tell you eat red meat only, fish and chicken will kill you. The next person says don’t eat red meat, it’s going to kill you, chicken and fish is the right thing. The next one says, eat only a vegetarian diet, any meat will kill you. Then you are like, “Oh my word, what am I supposed to do?”
That’s kind of the advice that I got.

Now that I know what I know, I finally have the ability to guide you along this path and that’s what the objective is of this video. First of all, let’s deal with social media.
Right now, as of today, there are all well over 2 billion monthly active users on Facebook. That’s therefore the first biggest social media platform. The second biggest social media platform in terms of monthly active users is WhatsApp. Facebook also owns WhatsApp. You can’t yet advertise on WhatsApp, but advertising is coming real soon in WhatsApp. Then you have quite a few ones in China, which I’m really omitting for now because the Chinese audience is not really the audience that we are working with at this point.

The next big one in the United States is Tumblr, 555 million monthly active users. The next one is Instagram, 400 million active users. The next one is Twitter, 320 million; then Snapchat, 200 million; then LinkedIn, 100 million; then Pinterest, 100 million. And the list continues. How do you choose out of all of these? Each one of these has their own strengths and weaknesses.
That’s only social media. Now you get to search. First of all when it comes to search, there is Google, Google and Google. Bing has like a 6% market share. Yahoo is 5% or 6% market share. Combined, Google owns 87% of all the search across the planet. So there is effectively Google when it comes to search engines. I’m not saying that other ones don’t have opportunities, but you definitely are not going to start with them.

On Google, there is paid search. That’s where you pay to buy ads when people are searching for a particular thing. Going back to our chiropractor example I used in episode number nine. If people are looking for chiropractic services, you pay for someone to click on that ad. That’s called Google Search. Then there is Google Search Engine Optimization, SEO. That’s organic. That’s where don’t pay you. You make sure that you index and when people are looking for a chiropractor in your area, your website shows up.
Then there is Google Display Network. That’s basically these banner ads that you see all across the web. I will explain that to you a little bit later.
There is YouTube as well, Google owns YouTube as well.
Then you’ve got so many other ones. You can buy directly from website publishers should you focus on an app. It’s really difficult to know where to get started. What I’m going to do is, I’m going to explain to you guys really, instead of which traffic platform, I’m going to explain to you the core ecosystems and the logic that drives them.

The first ecosystem is the Facebook ecosystem, the second one is the Google ecosystem, and the third is the LinkedIn. I’m going to explain those three to you and I’m going to explain to you why I suggest that you start with a combination of those three.

Let’s start with Facebook. Facebook owns Facebook, Instagram and Messenger – they spun off Messenger as its own social media app; I think it’s also… actually one of the biggest ones. Some people list it as a separate social media platform, some don’t because it’s owned by Facebook. Either way, people use Messenger to communicate, and then there is WhatsApp.
Facebook owns four properties that have over a billion users in total, but in terms of monthly active users, Instagram is the smallest one with 400 million. But it’s still huge. Those are the properties owned by Facebook.
It’s important to understand that they own on all these properties, because these properties all talk to one another. They post data from the one to the other. When you advertise, you basically advertise from within Facebook. So you don’t have to treat Facebook as something different to Instagram or Messenger or WhatsApp. There is really Facebook that reaches all four of those platforms. Right now, all three, but like I said, WhatsApp is going to be coming online pretty soon with paid advertising.

What are the strengths of Facebook? Why am I so hot on Facebook even if it’s only business to business? Well, the first is reach. Facebook just as the biggest reach of any social media platform across the planet. There is no social media platform that reaches more people. If you think about it in terms of the amount of active internet users across the planet, virtually everybody has a Facebook account. Most people log into Facebook every single day of their lives. Of the 2 billion accounts, something like a 1.6 billion is active on a daily basis or at least on a weekly basis.

Another huge strength of Facebook is the amount of time people spend on Facebook. If you look at where people go for recreation, for just passing time, it’s like having a cup of coffee. Facebook gets the greatest amount of eyeball time of any social media platform across the planet, except for certain niche ones like for example, Medium or Quora are seen as social media although they are kind of news as well. In certain instances it’s Reddit, you know, certain communities spend a little bit more time. But as a medium, Facebook definitely has the greatest amount of eyeball time with most people.

Facebook’s biggest strength is its targeting capabilities. I can target people based on demographics, age, gender, race, in certain cases. I can target people by certain economic criteria, what device they use, if they use an Apple device or an Android device or if they log on from a desktop. I can target people by geography, exactly by postal code, zip code, state, province, region. That’s just demographics.
Psychographics, how do people think? What are their values? What are the things they are interested in? I can have categories, so people that have shown an interest in children or economic or sustainable farming or climate issues or people that have certain religious or political affiliations, although that’s a bit of a touchy subject inside Facebook.

I can have a million different ways I can build audiences that are the most likely people to be consumers of my product. I can even filter by job description. I can filter whether people are married or divorced or single, if I’m kind of in the dating game.
By job description, if I’m looking to target CEOs, I can build an audience from people that are CEOs. The list continues. It has very, very powerful capabilities, targeting capabilities.
For people that aren’t searching necessarily for your solution, that’s where Google is stronger, but for people that could have an interest in what you are doing.

Another thing where Facebook is exceptionally strong is retargeting. Retargeting is if someone visited your landing page or website, but they didn’t take the action you wanted them to take, they didn’t opt in, they didn’t buy a product, when they go back to Facebook, you can show them ads that take them right back to that page where they were supposed to take the action.
Let’s say for example, you have an ecommerce store and you sell a certain brand of watch. I wear a Suunto watch. It’s a really cool sports watch. Let’s say for example, someone went to Suunto. It’s a very expensive watch. It’s not the kind of thing you buy the first time around. You are going to go around. You are going to look at the Garmin watches. You are going to look at the Fitbit watches. TAG Heuer now has fit watches as well. And it’s out of sight, out of mind. I may end up buying no watch or I may end up buying another watch that just seems more appealing.

But the bottom line is, I’m generally not going to buy this watch the first time that I go there. So what they can do now, Suunto, is if I leave without buying, they can now start showing me ads for the different models, the different colour configurations, different features of the watch. They can show for example, little videos about how the barometer works, how the altimeter works or how the heart rate works. They can show what it looks like when you wear it. They can illustrate how strong the glass is without it scratching. You can drop it, etc, etc.
They can show different features of this particular watch that I looked at on Facebook and that’s called retargeting. The chances of me buying this product ultimately are significantly higher.

So even those of you guys that aren’t interested in running what’s called top of funnel traffic, you are not interested in bringing more traffic to your website, you feel the quality of the traffic you are getting is okay, you can retarget people just back from your website. If you feel that you are going to get much higher quality traffic from LinkedIn, LinkedIn is very expensive to buy a click. That’s the only thing I’m going to get to you about later. If people go to your landing page or website that don’t convert, you can retarget that person back on Facebook. How cool is that? So these platforms work really, really well together.

Facebook is incredible for retargeting purposes. It doesn’t matter where the traffic came from. Retargeting them there is awesome. I’ll give you guys a case study.

We are about to embark on a financial roadshow. We are going to raise $3 million for our company to start a software division. Our company is exploding with growth. We are doing incredibly well. So we are very excited about this initiative. I’m going to run a marketing campaign for people that are investors and investment minded. It’s a very limited opportunity that we are going to have. We are going to have a window of like a week where people can actually invest in our company. We already have people knocking on our doors, but I’m looking for people that have discretionary capital available that aren’t looking for income from it.

We are going to develop a software that’s going to change the world. You don’t develop software day one and day two it’s profitable. We want people that have got discretionary capital that once they invest in tech companies they will accumulated value over time. It’s a very specific kind of person that I’m looking for.
I’m going to go and advertise on investment and technology websites, our opportunity. We are going to drive people to a webpage that’s built specifically just for this investment round. I know many of those people are going to be viewing that when they are in their car, for example, in traffic. They are not supposed to be looking at their mobile device in traffic, but they do. So someone may for example, be on the news website, reading a tech article, click on our ad and it’s going to take them to our investor website.

They want to sign up for our event, but they don’t have their hands free. What we are now going to do is we are going to cookie them and run retargeting ads across all platforms, including Facebook. So even if that click didn’t originate from Facebook, I’m retargeting people there and explaining our company and the software we are going to develop and how cool our team is and our company is exploding, why we had 400% year-on-year growth and so forth. So that’s going to be a great way to retarget and convert. That just makes more sense.

And it’s cheap. Facebook by most other standards are the cheapest to get a cost per lead. It’s just we can’t find another platform that on average is cheaper than Facebook. So Facebook has massive strengths.

There are a few weaknesses. The first is the intent is not as scientific as Google. What I mean by that is someone isn’t necessarily searching for high-quality investments or a back pain relief or chiropractor in New York. Someone isn’t searching for it. In other words, the intent isn’t that high. So I have to be better with my creatives. And the B2B features aren’t as strong as LinkedIn. I’m going to address that in a second. LinkedIn has some capabilities when it comes to targeting people on business., where Facebook is not as strong as LinkedIn. There is definitely a business case for that time. I’m going to talk about that in a second. So that’s Facebook.

The next ecosystem is Google. Google needs no introduction. There is really Google paid search. When you do your search for something, there are four ads that come up at the top. There is another three ads that come up with the bottom. If you are on a desktop sometimes, in fact I think they’ve done away with the right-hand side ones. There are now these panels there. Sometimes you see sponsored product ads you know, all these product ads company if you are looking for a particular product. So that’s paid search.
A simple explanation, you search for a product, the paid ads come up and when people click on it, you pay Google or the advertiser pays Google a fee, cost per click.

The second is organic search. Those are the search results that come up in between the paid ones. So it’s a top 10 search result. That’s SEO, Search Engine Optimization. That takes a really long time to rank, but when you do, it’s power. There is a lot of money to be made from it, but it takes a very long time to rank and it’s very unscientific.
Google Display Network is an interesting one because I can buy ads to display banners across other people’s websites. So for example, most news website, if I go to CNN, if I go to Huffington Post, I will see a whole bunch of banner ads by companies. Those ads are there often because Google, their AdSense, is displayed across the websites and the advertiser can buy the inventory via Google and it gets displayed on that advertiser’s websites. That’s called the Google Display Network and they’ve got something like 7 million websites or I don’t know how many, but it’s huge, the amount of websites where the banner ads get displayed.

Then there is Google Mail, Gmail accounts. There is something like 1.2 billion Gmail accounts. You would have seen that there are sponsored ads inside of Gmail accounts. What’s really cool about the Gmail ads is that people only click if they expand the ad. So if the headline doesn’t grab them and they don’t click to expand the ad, then you don’t pay for it. So huge missed opportunity in that area.

Of course, then there is YouTube. The interesting thing about YouTube is YouTube is now a bigger search engine than Google itself. Why? Because a lot of people want “how to” information in videos. For example, how to boil the perfect egg. Most people want to watch that as a video instruction. So they will go to YouTube and search, “How to boil the perfect egg” as opposed to on Google. They are very close. But the cool thing is that they both work very well together.
YouTube is massive. It’s absolutely astronomical. A lot of people are leaving money on the table because they don’t think, they don’t see it as a search engine, but it has become a search engine.
There is Google as well.

What are the strengths? First of all, reach. Everybody uses Google. They are billions and billions and billions of search queries on Google every single day. I think the average person does a couple of Google searches every single day. I don’t know what the number is, but it’s huge, and the people have intent. I’m only going to search how to boil the perfect egg if I have the intent of boiling an egg. If someone wants to sell a device that helps me to track whether the egg is hard-boiled or not, then that is the place to advertise because there is intent. If I’m looking for a chiropractor because I’ve got agonizing back pain and I’m looking for a chiropractor in New York, that chiropractor that I mentioned earlier, that add better be showing up there. You see what I mean?

It’s also great for retargeting. It’s the same principle as on Facebook where if someone visited a website or landing page for you and they did not buy, you can also retarget them across all of these properties that I mentioned. People can see your ads when they go to CNN, if they go to Huffington Post, if they go to Entrepreneur.com, if they go to Business Insider or one of many, many different websites, your ads can continue popping up. It looks like you are huge, but it’s only because you are retargeting people, because they have gone to your page.

Video is superior on YouTube. Certain products sell better with video illustrations and demonstrations. I’ve used this watch as an example, but I want to illustrate it again. A sports watch like this costs, I don’t know what the cost is. Let’s call it $1000. So it’s quite expensive. There is a very particular kind of person that buys it. This particular one is for sports and outdoors. Why do you buy a watch like this? Because you are hoping to enhance your sporting experience and to get all of your fitness information and so forth.
It’s very difficult to sell this watch purely on its aesthetics, what it looks like. That’s not why people buy it. The way to best explain what value you can get out of the watch is to illustrate it. So for example, if they have a video that explains that you can do diving and snorkeling even with this watch, I get a particular use case and I see the beautiful imagery underwater and I think to myself, wow, that’s actually pretty cool because when I go on a holiday, my wife and I travel extensively, I could also use it for diving, as an example.

The next use case could be for barometer and altitude. I may not think I need it, but they can show an example of guys that are fishing that can track the barometer to see if the barometer has dropped, if the fishing is going to be any good in the next day or not. And I can think to myself, wow, I like going fishing when I go travel. I can actually use the baro. And the list continues. I need to get these fitness points for my medical aid. It can show how the fitness points can accumulate on the watch and on the app.
The point is that it’s much more persuasive showing video on certain products and certain services than just static written information. Video is the fastest growing content category across the planet.

Video is also huge on both Facebook and Instagram. I’m not saying it’s not huge there, but we get the longest view times when people are on YouTube. We just always see that, so very, very good for that.

There aren’t really any weaknesses to LinkedIn. If I had to site a weakness it’s I can’t proactively target people. It’s harder to proactively talk to people on Google that are not looking for a product. For example, it’s hard for me to go to Google and say I’m looking for CEOs of a certain type of company and to market to them when they are not searching. I can’t do that really on Google. They’ve got a thing called high-intent audiences and they’ve got a thing called similar audiences, but it’s not nearly as good as what Facebook is. Those would be some of the downsides of Google.

Now let’s talk about LinkedIn. LinkedIn has a couple of strengths; business to business targeting. So it has got scientific… it has got better features to target by industry, by company, by job description, by company size, by offices, etc, etc for business to business. So if I’m selling software, if I’m selling professional services, if I’m selling, you know, if I’m doing recruitment, it’s very, very strong for recruitment, for sourcing candidates. It’s really strong on that. It’s very much a business to business platform. It’s seen as a very credible source. Generally people, they put on a different hat when they are on Google. They are much more professional. Their tone is a little bit more toned done. It’s seen as more “businessy”, a bit more hoity-toity.
It’s very, very strong on that, on the targeting feature side of things.

The weakness is the cost per result. It can cost literally 10 times more to buy a click on LinkedIn than on Facebook. Google is usually somewhere in the middle. In terms of costs as an average, Facebook is the cheapest, then Google, then LinkedIn. There are very limited cases where that’s not the case. LinkedIn is still awfully expensive.
Another challenge with it is that even though it does 100 million monthly active users, the average person will only spend less than an hour a month on there, whereas people spend more than an hour a day on Facebook.

On LinkedIn the cycles are longer if you want to reach a big the audience. I know for myself, the only time I go on LinkedIn is to accept friend requests. I’ll do that maybe once a week because I get like 10/20 friend requests a day. I can’t remember when last I spent time on LinkedIn where I read articles or scrolled through a newsfeed or something like that. I’m on there to accept friend requests, maybe to respond to one or two emails, but I don’t spend a lot of time on there. So from that point of view, people are generally disappointed with the volume of clicks, the volume of leads that they are getting.
It’s not to say it doesn’t have a place, it’s just not high volume game. If you are selling very expensive, high end solutions and you really, really want to work a very narrow audience, then it definitely is the place for you. But most people are disappointed with lead volume and with volume on LinkedIn. It’s unfortunately just where it is at this point.

How do you decide which to use, having said what I said? By the way guys, I didn’t get into the other social media channels and so forth because I believe that if you use the right ones that I’ve already given you, you are going to achieve 80% of your goals, because people are already on there.

How do you decide? I don’t want you to make a decision based on which platform. I want you to think about it as a combination, as which combination.

The first combination where there is a strong business to business angle, use Google Search for search. When people are going to search for a particular product or service like yours on Google, you should always advertise on the correct keywords there.
You could also use LinkedIn as I just explained, and then you must use Google Display Network and LinkedIn for retargeting, if you want to keep it very much kind of a business tone.
Then if it’s strong business to business… Now, when I say strong businesses business, I mean if you really are appealing to high end buyer. Cheaper products that have broader appeal, Facebook works equally well. In fact, it works better because it’s cheaper. Only if it’s a very strong business to business angle should you consider that combination of Google Search and LinkedIn.

For everybody else, I would suggest your departure point is Google Search for your type of product or service, and Facebook for proactive targeting, and then Google Display Network and Facebook for retargeting. When I say Google Search, I’m also talking about YouTube search provided you have the ability to create videos.

Guys, if you are scared of creating video, listen… you’ve got one of these, mobile device. Nowadays, I shoot 99% of all my ads on a mobile device. I’m shooting this on my computer. We have fancy camera photography equipment. We never use it. We only use this stuff. There are so many apps where you can make really cool videos nowadays. So I highly recommend that you get into that habit.
If you don’t like appearing on camera, you can go to a portal like Fiverr, (two Rs) dot .com and you can give them the images or the scripts and they can create a little explainer video for you. You know, video is huge.

Google Search Network or YouTube for search, Facebook targeting, proactive targeting to get top of funnel traffic, and then Google Display Network and Facebook for retargeting.
That’s what I would suggest. Also YouTube provided you’ve got all those assets.

YouTube is technically a part of Google Display Network, so I’m not always specifying YouTube. It’s a combination of these two, strong business to business, Google search, LinkedIn; and Google Display Network and LinkedIn for retargeting. Everything else Google search and YouTube search, Facebook targeting, top of funnel, retargeting, Google Display Network, which includes YouTube as well as Facebook and obviously Instagram is also included in that.

Here is what I want you to do. I want you to go to our blog. I want you to go to www.eliteinc.com/10 and tell us what types of clients you target and what combination you think is going to work best for you. When I have the time, I will comment on it, I will read it and I would love to know what you guys are thinking about it.

Guys, talk to my team if you want help with this. If this is exciting, but it’s overwhelming, but you want to run as a business where you provide the service to someone else, talk to my team about it. You can go to www.eliteinc.com/10 and book a complimentary call with my team members. If you want to learn to do it for yourself, you don’t want to outsource it, you want to do it for yourself, do the same thing. Go to www.eliteinc.com/10, book a call with my team. We’ve got certain products that can help you to actually master these skills.

Comment on our blog, we want to know what you think. You can do that by going to www.eliteinc.com/10. If you like watching these videos, go to YouTube and hit subscribe. If you like listening to this, go to your favorite podcast channel, please remember to hit the subscribe button and also give us a rating if you like what we have to say.
If you want some help, book a call my team, go to www.eliteinc.com/10.

Finally, I want to thank you so much for your time. I appreciate it. I know time is your most valuable commodity, and the fact that you are seeing or listening to these words right now means you’ve finished watching the episode. Well done on educating yourself and well done for taking the next step to becoming an elite entrepreneur.
Thank you so much for tuning in. I will see you on episode number eleven.

2019-10-02T06:02:53+00:00