Catapulting Profits with Facebook

In the past few years there has been a technological and innovative explosion. Social media platforms such as Facebook have come to dominate the globe, and affect the decisions and lives of countless people. The question that should be on the mind of every entrepreneur is whether or not this social media platform can drive revenue for his or her business. Although the answer to this question can be yes, it depends entirely on how your company goes about invading this new territory.

Social media platforms allow your company to engage the consumer in ways not always possible through ordinary marketing. Your company will increase revenue as a result of:

1. 1. Gaining street-credit: your company can utilize Facebook to garner street-credibility with consumers by offering special promotions, and tailoring your services to specific and local audiences.
2. 2. Utilizing a large consumer base and cost cutting measure: by creating pages on Facebook and providing links to your off-network site, businesses are able to tap into a massive network of people (750 million and growing) without having to pay for any outside research.
3. 3. Customer engagement: Facebook allows your business to communicate with the consumer like never before. They can be your fan, like your page, and even write reviews about your products. Also, by increasing the amount of customer-generated content, you will have reliable and consistent information for prospective clients.
4. 4. Integrates off-network site with Facebook: you can create links on your Facebook page that take potential customers to your off-network website(s). The more people that view your page and clink on the link, the more possibilities you have for conversion.
5. 5. Creates social incentives: when your customer becomes a fan or likes one of your pages, their friends on Facebook become able to see this. In turn, this may influence your customer’s friends buying patterns (this is especially important they are looking to buy products for holidays such as a birthday).

One of the most important steps in order to implement an effective Facebook campaign is to integrate your company’s off-network site with your F.B. page. You should make it very easy to connect your F.B. page with your website and vise versa. “That means like buttons above the fold on each product. That means allowing people to connect with Facebook to post reviews—which they can then push out to their friends (Gobry).” This diverts traffic from Facebook to your website, creating greater chances for conversion.

It is important that you begin infiltrating this media platform right away. “Every 20 minutes on Facebook (Huckabee)”:

1)     7.6 million pages were liked

2)     1.5 million wall posts were made

3)     1.9 million friend requests accepted

4)     1 million links were shared

5)     10.2 million comments made

To learn more about how your company can benefit from social media platforms such as facebook, visit our Let’s Talk page, or call 651.329.3259.

Bibliography

“Facebook–Money.” Facebook Money on Flickr. Web. 11 Jul 2011. <http://www.flickr.com/photos/famousin24hrs/5359670846/#/photos/famousin24hrs/5359670846/lightbox/>.

Gobry, Pascal-Emmanuel. “Here’s How To Make More E-Commerce Money With Facebook.” Business Insider 3 February 2011: 1. Web. 11 Jul 2011.

Huckabee, Huck. “Facebook Statistics.” Business and Facebook. Businessinternetmarketing.com, 06 January 2011. Web. 11 Jul 2011.