Benefits of Facebook for Businesses:
As any Facebook marketing expert will tell you, the benefits of Facebook for businesses can contribute to long-term growth. As a marketing tool, Facebook:
- Excellent for Direct and Indirect Marketing:
- Facilitates both direct and indirect marketing strategies.
- Full-Fledged Advertising Platform:
- Offers a comprehensive advertising platform through Facebook Business Manager.
- Cost-Effective Targeted Paid Advertising:
- Supports highly targeted paid advertising at reasonable rates.
Through a well-planned Facebook marketing strategy, you can:
- Reach and Attract New Audiences:
- Expand your reach and attract new audiences.
- Engage with Customers and Shoppers:
- Interact with customers, shoppers, and even friendly competitors.
- Build Brand Awareness:
- Build brand awareness through paid ads, posts, and contests.
- Encourage Word-of-Mouth Marketing:
- Encourage word-of-mouth marketing on and off social media.
- Target High-Conversion Audiences:
- Target audiences with high conversion potential.
- Build Relationships with Repeat Customers:
- Build relationships with repeat customers.
- Provide Low-Cost or No-Cost Real-Time Customer Support:
- Offer real-time customer support at low or no cost.
- Boost Customer Loyalty:
- Enhance customer loyalty.
This is possible on other social media platforms as well. However, according to reports from the National Retail Federation (NRF) and Pew Research Center, Facebook has the advantage of being the primary platform for Millennials, Gen Xers, and Baby Boomers – demographics with high purchasing power.
Businesses across industries also use the platform extensively, from Business-to-Business (B2B) enterprises to Business-to-Consumer (B2C) startups. Facebook marketing for B2B is as widespread as strategies for B2C.
Finally, Facebook levels the playing field for advertising by providing tools that even non-technical business owners can master. A 16-year-old artisan uses the same tools as a single mom who owns a successful bakery and retail company with a dedicated social media team. Planning and executing marketing ideas on Facebook might not be a walk in the park, but anyone can learn how to use Facebook for business.
You can do it yourself or hire a Facebook marketing agency that offers a full range of Facebook marketing services. Regardless, a well-planned and executed Facebook marketing strategy can:
- Bring in great potential customers to your business.
- Entertain prospective customers regardless of where they are in the conversion path.
- Shorten the buyer’s journey and continue to drive sales.
- Increase brand visibility.
- Boost your bottom line.
- Support your business goals in the long run.
Understanding Facebook trends, advertising best practices, and the future of Facebook is crucial. Getting Facebook marketing tips from Facebook marketing experts is also essential. We will break down all these things to give you a clear understanding of the benefits of Facebook for businesses and why you should invest in Facebook marketing strategies.
Let’s start with crucial trends in 2022.
Facebook Trends to Watch:
- Direct Shopping through Facebook: Businesses can showcase and sell products directly on Facebook or the mobile app (via Facebook Shop).
- Increased Emphasis on Video Content: Video content will have more reach (84% of customers were convinced to purchase after watching a video, according to a recent Wyzowl survey).
- Amplification of Organic Reach through Paid Ads: More companies are working on boosting organic reach through paid advertisements.
- Augmented Reality (AR) Integration: Brands are leveraging AR to generate buzz, engage audiences, attract new followers, and increase brand awareness.
- Development of AR and Virtual Reality (VR) Integration: Facebook is working on integrating AR and VR (via Portal).
- Partial Influencer Marketing: Brands are using micro-influencers (social media personalities with followers ranging from 50,000 to 100,000) to promote their brands and encourage word-of-mouth marketing within their niches.
- Social Communities: Brands are utilizing social communities (Facebook Groups) to promote products, discover market sentiments, enhance loyalty, and increase brand awareness.
- Growing B2B Marketing on Facebook: B2B marketing on Facebook is gaining momentum (business decision-makers spend 74% of their time on Facebook compared to other platforms).
Any Facebook marketing expert will tell you that these trends will shape Facebook marketing strategies, B2B marketing, B2C marketing, paid advertising, and organic marketing in 2022. Keep these trends in mind when brainstorming new marketing ideas on Facebook. With the Facebook metaverse on the horizon, staying constantly informed is crucial to stay ahead of the competition.
Preparing for the Metaverse: The Future of Facebook:
If you work with a Facebook marketing agency, you may hear Facebook marketing experts talking about the metaverse.
On October 28, 2021, Mark Zuckerberg, the CEO of Facebook, announced that the social media giant had rebranded itself with a new name: Meta.
To be clear, Facebook as a social media site will still exist. However, the company has grown larger than the app that birthed it. For example, Facebook also owns Instagram, Messenger, and WhatsApp. It became necessary to rebrand the company encompassing all these apps (and more brands) and create a separate identity from Facebook.
Industry experts also believe that Meta has another goal: positioning the company as a leader in the metaverse.
What You Need to Know About the Metaverse and Facebook Marketing:
The metaverse is a vision of the future—a virtual world that enhances social interactions, whether people are in the same physical space or not. It strongly leans towards augmented reality (AR) and virtual reality (VR), meaning the metaverse could integrate both the physical and digital worlds.
According to Alisa Teer, Senior Manager of Social Media at Thrive, “The metaverse is inevitable. It will be created in Web 3.0, connecting people to places and things.” Despite its futuristic nature, technology is advancing in this direction. So, how can businesses leverage the metaverse? Tear provides an example: “Web 3.0 and the metaverse will allow you to own a [virtual] retail store and gain both expected [virtual] and real-world customers and intellectual leadership across the web.”
To put things in perspective, think about how Instagram presents your photos or videos using filters and interactive effects before capturing the image. Now, imagine using the same technology so that customers can “experience” clothing and accessories. They will instantly know if they look good in a hat or a pair of sunglasses. Presenting your products in this way can be more convincing than showcasing a model wearing the same products.
Best Facebook Marketing Practices for Businesses:
Considering the above, here are some recommended best practices and marketing ideas for businesses on Facebook in 2022:
- Utilize Facebook Marketing Partners: Collaborate with Facebook Marketing Partners (now renamed Facebook Business Partners) who are certified by Facebook and experts in Facebook marketing. This is a good option for business owners with limited experience in Facebook marketing.
- Maximize Facebook Features (Shop, Groups, and Ad Management): Streamline the shopping experience for online shoppers. Set up business pages and paid ads that lead directly to your virtual store. Create Facebook groups focused on interests related to your business and consider a customer support group.
- Use Integrated Facebook Features and Different Ad Formats: Make use of available features and content formats. Update your Instagram store simultaneously using Facebook. Consider dynamic ads and promotional videos. Host live streams on Facebook to make your ads more dynamic.
- Explore Small Influencer Marketing: Small influencer marketing is gaining popularity. It doesn’t require spending millions on celebrities; instead, focus on influencers with smaller but engaged audiences.
- Pay Attention to Meta and the Metaverse: While the metaverse may seem distant, companies like Meta (formerly Facebook) are already exploring its potential. Stay informed, learn marketing ideas from experts, and incorporate Meta’s integrated apps and brands. Prepare for a digital marketing environment shaping up in the metaverse.
Teer advises, “Meta will lead in different features over time. There’s not much you can do to start building right now, but there are communities where you can begin learning, and that’s the key: learn and be ready to adapt.