5 Ways Facebook Can Help Your Business

Back in 2003, when Mark Zuckerberg was a mere Harvard undergrad with a clever idea for an online social network, he probably didn’t think he’d ever sit at the helm of a multibillion-dollar tech firm that’s routinely mentioned in the same breath as Google. But he is — and it turns out his former idea is now every bit as important an online marketing tool as Google itself. Here are five ways Facebook can help your business attract and retain customers.

1. Exclusive Deals and Discounts

Facebook-exclusive deals and discounts might just be the two most cost-effective marketing tools in the small-business arsenal. Whether you’re a local outfit with a brick-and-mortar shop or an online retailer that simply needs to direct prospective customers to your e-commerce portal, there’s no better way to do so than a deal that’s only available to your Facebook followers.

2. Advertising That Actually Pays

According to social marketing guru Jeff Bullas, the average value of a Facebook ad unit rose an astounding 122 percent between January 2013 and January 2014. The rise shows no sign of abating. Millions of businesses in the U.S. alone use Facebook advertising, putting the platform on par with Google as an online advertising machine. And with tens of millions of daily users, Facebook’s ads are actually seen by the consumers they target.

Getting started with Facebook advertising is easy and relatively affordable. Check out Facebook’s on-site resources for more details.

3. Tasteful Self-Promotion

No one likes a braggart. Businesses that tout their successes too loudly can turn off prospects, hurting their bottom lines. Sadly, many well-meaning companies fall into this trap on Facebook. But yours doesn’t have to — even when self-promotion is critical to its bottom line.

You can get your point across without looking boastful. For example, you can take advantage of third party-newsclip postings to speak more forcefully and authentically about your achievements than any press release or first-person post ever could. And the accompanying graphics showing its targets’ stock prices falling off a cliff are priceless — a great visual complement that everyone can understand.

4. Detailed Metrics That Point the Way Forward

Google has Analytics; Facebook has Page Insights. Facebook’s Page Insights tools break down your Facebook engagement metrics in easy-to-understand fashion, plotting your page likes, views and user interactions over time. Page Insights also compares your Facebook page to competing businesses’, showing where you compare favorably and where you need to improve.

5. Real-Time Feedback from Those Who Matter Most

Facebook might have morphed into a marketing monster, but there’s still a humble social network at its core. No matter how else you use the platform to reach and engage with prospects, never forget that they’re doing the same with you — and your competitors.

It’s critical to view every like, share and user-generated wall post as a piece of constructive feedback, good or bad. Just like the suggestion boxes of days gone by, Facebook followers provide businesses with valuable, authentic ideas about how to improve. As long as you’re game for some constructive criticism, that’s great for your bottom line.