Why Facebook is good for business

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.

1. Awareness

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.

2. Engagement

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.

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