Facebook

Facebook is, hands down, the dominant social media platform with 1.23 billion monthly active users worldwide. Of those active users, 757 million log onto Facebook every single day. The largest user group is 18-29 year olds (and about half of this group check Facebook before they even get out of bed), but the fastest growing user group is the 65+ crowd. One of the main benefits to using Facebook as an online marketing tool, then, is sheer numbers. It just makes sense to be active in the same space as so many customers and potential customers.

Why should you have a Facebook Page?
With Facebook, you can generate money via two strategies.

Connect with Existing Customers
If you have a sale, and nobody knows about it, did it really happen? Having Facebook fans gives you an opportunity to connect with customers. You can tell them about sales, answer questions about your products, and develop a bond. Talking with your customers can be fun (although it can be time intensive, so be careful). More importantly, businesses are built on relationships. Communicating with customers is a good way to grow relationships and use thee relationship to build your business.

Buy Traffic that Converts to Customers
Facebook and Adwords PPC are similar. Facebook has two differences:
  1. They do a better job of giving private data about their users to advertisers. This private data about Facebook users allows advertisers like you to better targeting which people see your ads.
  2. Visitors will be going to your Facebook page instead of your website.

But, the revenue calculation is still the same as Adwords. If you can convert traffic to customers better then your competitors, then this works. If you can't, then it doesn't.

After people click a Facebook add, they will visit your Facebook page, If they see a big community, with many loyal fans, and good discussions, then you will have credibility and they might buy your products. Seeing 1,000 people that like your brand says much more about you then a website that talks about how great you are. And, this trust can be converted into sales. If you don't have a strong Facebook following, it won't work.

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