There are more than 350 million users on Facebook. Here are five ways top companies have managed to use that audience to their advantage:

1. Target’s bait and switch: With more than 660,000 Facebook fans, Target has a tremendous pool of customers to draw from. The company’s capitalized by engaging its buyers to promote its products. Example: Last November, Target posted some of its holiday ads on Facebook, asking customers to provide feedback. The conversation turned into a major thread with hundreds of consumers exchanging opinions. At one point, Target reps popped in and added a comment to let customers know it was donating 5% of the purchase price of any Hasbro toy to charity every time someone bought one. And with the way Facebook is set up, every customer who posted to that thread was sent an automatic e-mail, directing them to Target’s comment. It gave Target free, instant access to some of its most loyal customers. The best part? Any company can employ the same strategy.
2. Toys “R” Us offers major discounts via Facebook: Toys “R” Us developed a holiday promotion that encouraged more customers to become “fans” on the company’s Facebook page. It used e-mail and other marketing channels to let customers know they’d be entitled to holiday discounts and other incentives simply by agreeing to become a “fan.” How successful was the promotion? Toward the end of 2009 when the promotion was in full swing, it generated as many as 90,000 new fans a day. It’s also worth noting that Toys “R” Us’ December sales were up nearly 5% this year, while a lot of competitors were struggling.
3. PetSmart encourages fans to make themselves at home: PetSmart uses its Facebook page as a platform for customers to interact with one another. For instance, PetSmart reps can get the ball rolling by asking some of its 17,000-plus fans to post pics of their pets in funny costumes around Halloween or dressed up in holiday garb in December. From there, the customers interact with one another, which only helps boost PetSmart’s brand loyalty. Much like Target, PetSmart has also learned the value of waiting until the thread has generated a considerable amount of buzz before slipping in a mention about a limited-time offer, etc.
4. J.C. Penny’s unique contest entry form: In an effort to drum up as many fans as possible prior to the holiday rush, J.C. Penny announced a contest in which the winner would receive a Black Friday shopping spree complete with limo transportation to the nearest store. The catch: Customers could only register for the contest by becoming fans on the company’s Facebook page.
5. Ernst & Young’s new recruiting tool: Consulting giant Ernst & Young is attracting a whole new pool of top recruits via its “Facebook Careers Page” — the first of its kind. Rather than simply going the traditional route of using online job engines or job fairs, Ernst & Young has revolutionized the process by initiating an online dialogue with college students months (or even years) before they graduate. The company lists all of its available positions and internships, as well as news about how and where the company is looking to grow. As a result, the company has already generated more than 37,000 fans, most of whom are potential job candidates. It gives Ernst & Young complete control of the process, promotes the company’s brand and creates tremendous buzz among some of the best, and brightest recruits in the industry.

While these are all unique approaches, one of the common characteristics most successful Facebook models share is that they feel organic. In other words, companies that simply use Facebook to announce offers or post ads don’t have the same appeal as those that engage buyers and ask for their opinions. The ability to encourage an exchange of ideas or solicit feedback empowers customers, and makes them feel like a valuable part of the company’s processes.

Has your company used Facebook? If so, how? If not, why not? Let us know in the Comments Box below.

Source: “Retailers scramble to use social-networking tools to reach customers, sell merchandise,” by Max Jarman, The Arizona Republic

Tags: Ernst & Young, Facebook, Internet, J.C. Penny, marketing, PetSmart, recruiting, social networking, Target, Toys "R" Us, Twitter