A Business Called Facebook
When Facebook was first introduced to the market as a business tool, the entire face of online business has changed forever. It may sound unfair to other social networking sites that exist today, but without Facebook, a marketing strategy can be considered weak and frail, for a large fraction of possible customer is strategically located here.
Having a Facebook business account automatically brings a business closer to its target market, thus, we can say that it solved and abridged every marketer’s most daunting task: market positioning. Years back, marketers had to conduct time-consuming and unreliable surveys to understand and know who their real target market was. We can say that it is not only unreliable and time consuming, but costly, too, because the survey groups sent to localities were expensive, whether it was outsourced or in-house.
Another thing that is obviously advantageous about Facebook is its capability to expand brand awareness. During Facebook’s absence, only large companies and corporations with funds to finance a pricey TV and print ad could have a comprehensive brand promotion. However, because of the Internet’s popularity, along with Facebook’s accessibility to people, traditional media advertising has become less popular, making social media presence a top priority and requirement of every business when it comes to advertising.
The Facebook Marketing Strategy
Yet it’s Facebook’s social engagement capability that made it a staple marketing strategy. Hence, it clearly means results. In traditional advertising strategies like TV, radio, and newspaper ad placing, and as well in local marketing methods like brochures, pamphlets, and posters, it would take time for a marketer to see the results or effectuality of overall promotion efforts. In addition, there would be times when getting firsthand results from prospect and target audience is impossible, for there is no other way to get it aside from conducting a survey, or waiting for your ROI and sales details, whereas in Facebook, getting an immediate result upon posting an update about your service can happen in no time.
As years passed, Facebook has also become a survey machine. Marketing and advertising experts are now using it to understand people’s thinking. Since Facebook is a social media platform where people share their thoughts, ideas, and notion about a certain product, company, or even to the entire marketing world, most companies today rely first on these before launching a product, or even before tweaking and altering an existing marketing idea.
The Spawn and Sphere of Facebook
Facebook has contributed a lot to many small business hopefuls without the capacity to launch a trade that requires big money or intricate marketing analysis. We all know that in here, everything from small online trades like pastry supplies, doll dress weaving, and small-time food business to promising online businesses like Web designing, photography services, and medical consultations exist, a truth that magnifies the reality that it helps a lot to reduce and trim down poverty and economic problems. Respected people—senators, marketing experts, entrepreneurial pundits, trade and commerce organizations—admit that Facebook has been a key tool to opening a clearer, more boundless, and more fair economic opportunity to every people.
We can also say that it has opened a great avenue to lots of Web experts to create new approach in social media marketing. And yes, because of Facebook, lots of social media platforms has sprung—and died—left and right in attempt to rival Facebook. It is positive, though, since it has given people an option in case Facebook’s approach to social media marketing doesn’t comply to their taste and ways. In addition, it also gave birth to a healthy competition. Just after years of dominance, Twitter and Google+ came in, and again, giving the people broader options.