Facebook was never envisioned to be a marketing tool. Back in 2004, Facebook started as a social networking channel. Over time, the site has become one of the most widely used social media platforms of all time. According to Statista, Facebook now has more than 1.8 billion active monthly users and was the most downloaded platform for 2016. Also, the number of members is growing all the time.
Not only is Facebook popular for social networking but its marketing potential has also exploded. The site is now one of the most important digital marketing tools available to businesses. Businesses can use Facebook in many ways to promote a company. Marketers use the social media site to reach, engage and retain customers by showcasing new products, offering product giveaways and other promotions.
In spite of its marketing potential, many businesses especially small ones, are still not using Facebook to promote their brand. In fact, research has found that nearly 49 percent of small businesses don’t utilize social media to promote their brand at all. So, why have companies not added Facebook to their marketing arsenal? The reason for this is likely because many businesses do not realize the impact that Facebook marketing can have on a company’s bottom line. Here are three reasons why Facebook marketing is critical for any business.
It Can Reach Across Demographics
Facebook is an effective marketing tool because it has managed to establish itself as a popular network across different socioeconomic and age demographics. The site features the largest blends of demographics of any social media platform out there. It provides an excellent way for companies to interact and engage with customers from all over the world.
Offers a Great ROI
As is evident from the statistics above, Facebook is a hugely popular online platform. It provides the ability to reach a large number of people. No other type of advertising can reach the same number of people that Facebook does—and at such a low cost. Facebook advertising is cheaper than both Google and YouTube advertising. Putting these factors together means that you get a high ROI on your advertising dollars.
Facebook Live, introduced last year, is turning out to be a valuable marketing tool. This feature allows users to record live videos and share them with people. Businesses can use Facebook Live to promote special events, answer customer questions and demonstrate how to use their products.
In spite of the many advantages of Facebook, it should not be the only marketing tool that you use. Although it is a pretty robust marketing tool, it has limitations. When included in your overall marketing strategy, Facebook has the potential to improve your bottom line.