Facebook – the social network that is not only the largest, but the most used worldwide. What started out as a simple networking platform in 2004, has since grown into an empire that dominates the online space, thanks to CEO and Founder, Mark Zuckerberg and his associates.
While the world went through the Facebook craze phase, businesses initially got little to no benefit from this platform that was launched with the initial intention to connect people around the world.
Fast-forward to 2020, and Facebook now has features and functions that allows you to track and analyze data, set up campaigns and get insights that helps you better understand your potential customers.
Now positioning themselves and gaining recognition as a platform that not only connects people with people, but also businesses with businesses and businesses with potential customers.
Facebook, and social media in general has revolutionized the way in which we think about marketing and how we go about it. More so, compared to other means of advertising, it is said to be the cheapest form of marketing. This allows businesses with big and small advertising budgets to benefit from what Facebook has to offer.
Why is Facebook good for business, you ask? It CONNECTS and CONVERTS. If we consider the marketing funnel, which in layman’s terms is simply the customer journey from when they connect with or learn about your brand to when they convert into an actual, paying client.
When meeting people for the first time, we make a point of introducing ourselves. When potential customers are initially introduced to your brand, before connecting with them, the idea is to create awareness. The more people become aware of your brand, the better they will connect with you.
Once you’ve crossed the awareness hurdle, you want to ensure that you consistently engage with your audience and them with you. When you post something that resonates with them you’ll get likes, shares and comments.
3. Conversion and Loyalty
The purpose of awareness and engagement is to drive conversion and retain loyalty. Once a potential client becomes an actual sale, you want to ensure they continue choosing your brand or recommend you to others in search of your product or service.
When we take this funnel into account, in conjunction with the amount of active Facebook users who is or can be potential clients and things like Messenger and Marketplace that seems to be a hotspot to buy, sell and advertise; there is endless potential for your business on Facebook.