Home > Facebook, Social Media > What Warren Buffett Knows About Facebook

What Warren Buffett Knows About Facebook

I attended the Utah Jazz game the other night.  One of the things the Jazz do very well is make sure sponsors messages are liberally shared and put to use in entertaining ways.

One ad promotion that stuck out to me was a call to action for a Facebook fan page from furniture seller RC Willey.  They were giving away a 32″ HD TV by drawing just for fanning their page.

More interesting is they wanted you to do it right then…on your mobile phone.  Even though the audience wasn’t at full capacity of 19,000, this seems like a pretty bold move to run an entire season.  Besides giving away the TV, they also advertised the TV was available for sale.

For those of you that don’t know, RC Willey, though started as a local company, is part of Warren Buffett’s Berkshire Hathaway (BRK.A) companies.

My takeaways from this campaign are two-fold –

1.  Berkshire, Buffett and RC Willey recognize the power of social media and much like Pepsi, they’re willing to pay for it through advertising and give aways.

2.  They also recognize the power of the mobile web.  The promotion didn’t call for people to go home and follow their fan page, it called for them to do it right there and then because RC Willey knows people are using mobile Internet.

This is just the beginning I think and every business not employing social media should be paying attention.  As I meet with clients and potential clients, I analyze the social media option and more often than not, it’s a very good fit.  From home builders to insurance agents, social media seems to be the way to go.

I’ve got an exciting test project I’m launching next week that will really put these theories to the test.  In the mean time, check out RC Willey’s Facebook page.  You might win a TV the next time you’re at a Jazz game!

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