3 Things You Should Know About Facebook For Business
Many people have the belief that Facebook and other social media platforms are essential for a business, however they do not know why. The reality is, unless you have a strategy guiding the content that you post and an understanding of how the platform works, you will struggle to see overly positive results. If you’d like to understand a little more about how Facebook for business operates, read the below three points.
1. You must invest for good results
For those of you who have only used Facebook on a personal profile, it may come as a shock that good results on a business page will cost you. While the platform is free to signup and manage, it functions in a way which leaves businesses very few options other than investment. You may have heard of Facebook boosting and advertising – this is where the investment occurs.
These two paid Facebook features assist in growing your audience, increasing how many people see the posts (reach) and increasing how much engagement the posts receive (likes, comments, clicks and shares). Given the way Facebook has been built and designed, without investment, only approximately 5-10% of your established fan base will see your posts. This means that if you have 10,000 fans, you can expect 500 – 1,000 of them to see your posts organically while further investment is needed to broaden the reach.
2. Customers can be targeted for an affordable price
While there is a cost involved, the good news about Facebook for business is that you can target your customers very specifically and for an affordable price. Targeting options are so detailed that they include anything from age, gender and interests, to geographic location and behaviours on Facebook. It is an opportunity for local businesses to reach those in their area, or on the other hand, for international businesses to reach people around the world with an interest in their industry. Depending on the results you would like to achieve, this investment can start from as little as $1 a day. You are able to set your budget based on what you can afford, and the positive results will increase the more you spend.
3. The difference between boosting and advertising
If you’d like to manage your Facebook business page without the assistance of a marketing specialist, you must understand the difference between boosting and advertising. Facebook advertising refers to those posts which you see on the newsfeed and sidebar marked as ‘Sponsored’. It is essentially a small advertisement which allows you to write a short sentence about your offering, and prompt users to act in a certain way. This can be anything from ‘Learn More’, to ‘Sign Up’ or ‘Visit Website’, and you can link them to a URL of your choice.
Boosting on the other hand is when you place a budget on a post which is already on your business page. When spent, this budget ensures that the post gains maximum reach and engagement among the audience that you have chosen to target. The choice between boosting and advertising will depend on the goals you wish to achieve, however often a combination of the two can work very well.
What do you think?
Do you use Facebook for business purposes? I do hope this article has helped to clarify some of the questions you had about the platform, and how it operates in a business capacity. If you have any further questions, please feel free to comment them below to me.
This article was written by Laura Hutton on behalf of the Australian Institute of Business. All opinions are that of the writer and do not necessarily reflect the opinion of AIB.
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