For all those quick to dismss Facebook, stories like this are what Madison Ave is selling. No one mentions how $200K spent on a better name than PetFlow.com instead would maybe return so much more.
On the other hand...
If this case study is true (and it may just be FB self-erving poop) I have to wonder what Elliot Silver could do with DogWalker.com. Keep buying names for inventory and spend $200K on that gamble or invest in a campaign like this, get $10 million in subscriptions and qualify to sell company for $100 million. Is this too simple. What am I missing?
Internet Retailer reports that Pet food e-retailer PetFlow.com turned a $200,000 investment in targeted ads on the social network into $10 million in e-commerce sales.
Pet food e-retailer PetFlow.com posted a large photo on Facebook last Friday of a fuzzy brown and black puppy, sprawled out on the grass, his paws extended and eyes fixed on the camera. The caption read, “I’m adorable. And I know it!”
Twenty-six minutes later, the post had garnered more than 2,900 Likes and 74 comments, and more than 250 people had shared the post on their Facebook Timelines. Forty-eight hours later, those numbers were far higher—13,000 Likes, 250 comments and 2,100 shares.
With around a $200,000 investment in targeted ads on Facebook, PetFlow.com has built its fan base from around 20,000 in February 2012 to more than 700,000 today. And the e-retailer is benefitting massively from this highly engaged audience, as the merchant directly attributes at least one-third, or $10 million, of its $30 million in sales in 2012 to its social media marketing strategy.
How does a cute puppy pic translate to sales? Founder Alex Zhardanovsky—a featured speaker at the upcoming Internet Retailer Conference & Exhibition—explains more.