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According to recent statistics, Facebook has a user base of 1.69 billion people. This is a figure that shouldn’t be overlooked, especially for small business owners. With such a large amount of people using this social media platform, the marketing potential is huge.
But here’s the thing about Facebook. While it can be good for business, there are downsides, too. So it’s important to thoroughly consider whether the platform will serve your marketing goals.
Keep in mind this post discusses the merits of using a Facebook page or group for business, not a personal profile.
Facebook: The Positives
An Excellent Marketing Tool
When it comes to digital marketing, Facebook possibly offers the largest opportunity to cultivate your audience. It is easy and free to set up a Facebook page, and business owners can easily post news about their business. Facebook ads also drastically increase your content’s reach, so people beyond your usual network of followers can receive news of the business in question.
Facebook = More Money
Due to the marketing potential attached to Facebook, there is obviously the chance to make more money. And as can be seen in this post on monetizing your social media, there are other ways to increase income. Products and merchandise can be directly sold from your Facebook page and associated groups, and online courses and member subscriptions can equate to more financial revenue, too.
Great For Customer Support
Customers can easily get in touch with the business owner on Facebook. This means no waiting around on the other end of a phone, and there is no need to talk to a chatbot, either. Provided the business owner (or your team) responds in a timely manner, the customer will be satisfied.
Funnel Traffic To Your Website
Beyond including a link to your business’ website in the about section of a Facebook page or group, you can also direct people to your website from ads and posts. A product image can capture a potential customer’s eye and prompt them to check out the rest of your selection. Someone can also be enticed by positive comments from satisfied customers.
Facebook: The Negatives
Ads Can Be Expensive
Companies spend an average of $200 to $800 a month on Facebook ads. This can be cost-effective, but only if people click on those ads and become actual customers. If they don’t, it could amount to a waste of money. That might be a significant risk for a small business owner with a limited budget. Things can be improved with better targeting, however, but you might need to outsource their digital marketing for worthwhile results. Outsourcing can be expensive, but it also brings in outside expertise and extra hands to help you manage the workload.
Posts Can Backfire
What happens when an employee or representative of your brand posts something that creates a huge negative response? It could damage the brand’s reputation. And what happens when a grieved customer posts something nasty?
It can be a nightmare for small business owners to navigate. Rules need to be put in place surrounding social media use for employees. And you need a system in place to handle bad responses on social media.
Is Facebook Good For Business?
Ultimately yes, but not without a few caveats. Not every business has a Facebook presence. The decision of whether bringing your business onto the platform will be beneficial for you will depend on your own research and analysis.
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