A social media presence is only valuable to a brand if their page creates interaction with its fans. Facebook has been changing its newsfeed algorithm several times and it has become harder for pages to reach large audiences for free. Increasing you reach is a lot of trial and error. However, Mashable interviewed a couple of startups that are successful at maintaining high engagement with their fans. They named different approaches:
1) Integrated approach: Use other social networks and A/B test content there and put the best content on Facebook
2) Great content: Focus on creating content that your fans love
3) Don't game: Focus on quality and not quantity of your content
4) Staff engagement: Motivate your employees to share content on their own page increases reach and support great content with advertising
5) Email marketing: Share your social media content in your email distribution list
6) Autonomics: Use intelligent automation tools to analyze your page interaction and build best practices
7) Timing and content: Post when people are reading. The right content at the right time will reach more people.
8) Diversification: Do not rely on only Facebook. Use other platforms to diversify and decrease risk.
So it mostly boils down to having relevant content at the right time while diversifying on several social networks and other means of communication (e.g. email and advertising).
Source: http://mashable.com/2014/06/09/improve-facebook-engagement/
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