Once again, Facebook is making social media news headlines. For those who have been actively reaping the benefits of Facebook for business, you may soon be rewarded. For those who may have been late to the party, there is still time! As of November 2013, Facebook has been unveiling a brand new feature on company pages: Facebook ratings.

Here is what we know…

• Facebook company pages may now display a five-star rating underneath the company’s name
• Facebook is actively aggregating this information within newsfeeds and timelines
• Facebook has been collecting star ratings from users via local search and on the desktop for some time
• There is no way to click on the Facebook ratings, providing there were no comments left with the rating
• As long as your company or brand lists an address with your business page, you are eligible for this Facebook rating system

This may not be huge social media news. In general, Facebook ratings are not anything new – brand pages have always been able to receive user ratings, from mobile devices only as part of the check-in feature of the social network. However, it is the addition of these ratings on the desktop and the placement of them on the actual page that is changing their prominence, and the significance in your overall social media marketing strategy. This is what makes it big social media news.

Social media marketing is all about remaining on top of changes such as this. How can your insurance marketing strategy remain up to date and continue to take advantage of this feature?

Advantages of Facebook Marketing: With Facebook Star Reviews

According to Facebook, Star Ratings have been extended from mobile to desktop: “… to make it easier for people to discover great business around them”. Additionally, the social network has even eluded to the fact that your Facebook ratings may impact where your business appears in the newsfeed.

This is huge.

Consider these potential pros:

• Prominence :The new Facebook ratings system assigns a tangible metric and a focus on quality of business instead of quantity of followers.
• Less Ambiguity Compared To “Likes”: A Facebook “like” does not always coincide with a positive review. However, a Facebook 5-star rating is a true gauge of high- quality business.
• Brand Awareness :As a reviewed business, your location will show up in Facebook mobiles “places nearby” functionality.
• New Business Potential: Using the “close friends” feature, your business will now appear higher in Facebook search results.

However, like all good things, keep these potential cons in mind:

• Prominence: The prominent location of the stars is a pro and a con. Not every reviewer will have something positive to say – and this will impact businesses. Above all else, as always: You must be sure that you are providing great customer service.
• No Response: A best practice for social media marketing when it comes to comments and reviews has to do with response: You should always respond to negative feedback and attempt to make positive of it. Unfortunately, responses are unavailable in this new feature.

Adjust Your Insurance Marketing Strategy

For users, the big takeaway with this social media news update is that now there is an increased degree of relevancy and sentiment. How should you adjust your social media marketing strategy to make the best use of the Facebook ratings system.

Keep in mind the value this new feature will have for users:

• Ease of use
• Relevance
• Information
• Prominence
• Social Engagement

Social media marketing allows you to be where your audience is, and this new feature is no different. While it is still being rolled out to everyone, prepare your business by getting ready to do the following:

• Add your address to your business’s Facebook page If you have not already, of course!
• Ask for reviews! You can do this in your office or through an email campaign
• Consider developing a QR code You can display this in your office or on marketing materials that directs clients to Facebook – where they can review you.

In the future, like all aspects of social media marketing, things could change. Be sure to stay on top of your insurance marketing game and be ready!

For more information, be sure to download the complete Strategy Guide today.