Facebook serves several purposes for businesses:
- It is a business directory listing (business information)
- It is a social trust platform (reviews)
- It is a social media platform (posts)
- It is an advertising platform
Facebook is the only platform that has all four of these together in one place, and that means your business needs to have a presence here.
Facebook Business Directory Listing
- Phone Number
- Business Category
There are many business directories on the internet that you know, like Yelp, Angie's List, and Google. Facebook also presents this information in Facebook Pages and it is considered one of the most reliable, trustworthy, and up to date sources of information by search engines like Google. As a result, your business absolutely needs a Facebook Page and the business information needs to be up to date.
Facebook Social Trust
Social Trust is the process people on the internet use to determine whether they want to do business with a particular company or organization. Social trust is informed by many things. Reviews are the most important aspect of Social Trust and Facebook has the ability to collect and display reviews for your business.
Facebook Social Media
Social Media is the content that you publish to the Internet and Facebook is the largest social media platform in the world. Over 75% of internet users have a Facebook account and half of those people use Facebook every day.
So, Facebook is a great place to put social media content for your business or organization. There are two reasons why you might post content:
- Content generates sales
- Content improves Social Trust
Depending on what you post, how often, and the following the Facebook Page has you may be able to generate sales. If so, the acquisition cost per sale will easily let you know if it is worth your time to keep posting. Some businesses post multiple times per day. Others post once a month. And some don't ever post. Each strategy has a different cost and benefit.
If not a direct source of sales, Facebook Pages are shown prominently in search results on Google and so people looking for a business like yours will end up there during the Social Trust Process. When they arrive on the page they are going to see the social media content on the page and we find that if there is a monthly post, then Social Trust is not negatively impacted.
Businesses, individuals, and organizations can also advertise on Facebook. This is, in fact, how Facebook makes the vast majority of its revenue. Thus, there are many ways to spend a marketing budget here. We'll leave the advertising aspects of Facebook to other posts and sections.