What does a successful Facebook contest/competition setup look like?
You first need to look over Facebook’s promotion guidelines and clearly define what you’re looking for before you start it. Then decide how you’re going to develop it and plan to give away appealing prizes. Keep everything timely, creative and as simple as possible. Also don’t forget to promote on all of the other marketing channels you use.
How does a visitor convert into a customer?
To consistently engage a visitor enough, come up with ways to incorporate events, notes and polls into your marketing. Posting, commenting, liking, and watching are all driven engagement. You can use the advancement of the like button to drive traffic to your status and link posts. Use events to power traffic back to your blogs. The questions feature is like a poll; it creates awareness.
How do I go about Facebook ads?
Effective ads are engaging, and the images are important. Make sure the ads are very targeted with keywords, yet creative and fun.
How do you get content to be seen on Facebook? 
Rank highly for recent and top news. Strive for a lot of activity by encouraging interaction. Get a lot of content out there and always have a way the user can contribute,whether by answering a question or posting a photo
I’m new to Facebook marketing. Where do I start?
Set up a Facebook fan or place page and start it with a landing and info page. Clearly define your audience so that you can appropriately create content and build an editorial library. Leverage content they will find both relevant and interesting, and share it in a very simple way while engaging them.
What makes a place page different than a fan page?
Make it a place page if you have a physical location where people can check in; it can be mapped with an address. You could also post events and deals. For example, a concert venue needs a place page, yet a fan page would be appropriate for a musical artist.
Who’s doing it right?
Starbucks, Dunkin’ Donuts, Shoedazzle… AT&T judges and ranks themselves on speed while harvesting their content to consumers. Mashable also has a list featuring some of the best fan pages.
A few other takeaways? You don’t need to be HTML-savvy when creating welcome pages. Do some research, as there are some great apps out there. A lot of free mechanisms require no technology skills. And to control tracking and metrics, learn to understand Facebook insights- it is who’s viewing what. It will help you audit what you’ve been doing.
Source:http://blog.hubspot.com/blog/tabid/6307/bid/13832/How-to-Benefit-from-Facebook-s-2011-Updates.aspx
