With over one billion users, Facebook has emerged into an effective marketing platform. On June 18, Facebook announced that it had one million advertisers worldwide who had used it in the last 28 days, a record for the company seeking to bolster its revenue growth.
A major point to note is that most of the registered advertisers are small businesses. Facebook is hoping to attract more small marketers since 16 million local businesses have set up fan pages. These local businesses, which include jewelry sellers and clothing stores, find Facebook marketing the perfect platform to reach out to more people. As Facebook does not charge businesses to set up pages, it is also proving to be a very cost-effective online sales medium.
According to a report released by the market research firm eMarketer, small advertisers have spent over 32 billion dollars in the US alone. Advertising contributes to 85% of Facebookâ€™s revenue which includes money from multinational brands and leading advertising agencies. To boost revenue growth, Facebook revamped its newsfeed and simplified the process by which businesses buy ads. According to BIA Kelsey, more than 50% of business owners use Facebook pages to promote their brand, while only 16% use Facebook ads. EMarketer also reports that Facebook stands second to Google in 2012 with $4.28 billion in net digital ad revenues, or 4.11% of the worldwide market.
Unlike other networking sites, Facebook is reaching out local businesses to help them to become successful ventures. Facebook has an incubator program to mentor businesses and help them get through the ad buying process easily.
The Facebook experience shows that social media marketing is crucial for the success of your business. It can help you connect with people, engage your target audience and attract prospects to your webpage. The best way to make the most of Facebook marketing or marketing on any other social media platform is to rely on a professional SEO company.