Tuesday, 27 November 2012

Facebook For Your Business - Advantages And Disadvantages

Facebook For Your Business - Advantages And Disadvantages

By Darren W Chow
Regardless of the nature of your business, you cannot ignore the potential impact of Facebook in your business operations. To date, there are over 800 million Facebook users and nearly half of this number log on to their Facebook accounts on a daily basis. As we try to maintain the competitiveness and viability of our business, we need to take into consideration the immense potential of this popular social networking site as a powerful marketing tool and medium. It is easily one of the best options for business owners and managers who want to implement marketing campaigns to specific niches with pinpoint accuracy.
Advantages of Facebook in your Business
Unmatched customer coverage and reach - Facebook has more than 800 million users and over 350 million users use their mobile gadgets to access their Facebook accounts. If you are looking for an online platform with the most extensive reach, then it is definitely the top choice. While some sectors may argue that it is still way off the mark set by Google AdWords, we have to include in the equation the extent of usage of Facebook users in order to appreciate the true value of this popular social networking site.
Better targeting - Facebook has the ability to filter and organize customer information based on demographic variables - sex, age, educational attainment, etc. This translates to a more effective targeting for companies. Through Facebook, you can easily reach a specific niche.
Choose between PPC or CPM option - Other ad networks offer only one option. On the other hand, you can choose the most appropriate option for your marketing campaign if you decide to use Facebook in promoting your products or services. Thus, you may opt for CPM if you are more concerned with awareness and exposure or go for PPC if you are more concerned with conversion and relaying information to your target clients.
Disadvantages of Facebook in your Business
Higher Cost of PPC ads for Niche Market - This is one of the major issues raised by online marketers against Facebook. While considered to be a low cost option, the pricing structure of Facebook puts it at par with demographic and general terms ad campaigns. Obviously, there is still some room for improvement so that advertisers can be able to make full use of Facebook in their marketing campaigns.
Irrelevant and strange ads - Facebook continues its crackdown of advertising campaigns that are deemed strange and irrelevant. These are the main reasons why a lot of Facebook users are put off by these "invasive" and "nuisance" messages. Business owners and managers should exercise caution when placing ads in Facebook so that these don't get lumped with the rewards programs, humor sites and giveaways that flood the system.
Below Par conversion rates - Facebook is a social medium and it has not really evolved into something that would make it conducive in eliciting a desirable response from your target niche. Facebook users are not really motivated by their "thirst" for a solution to their concerns and problems. They visit the social networking site to "socialize" and touch-base with their relatives and friends. This becomes an issue if you are more concerned with high CTR and conversion rates.
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