With all the talk lately regarding Facebook’s collection and usage of personal data, now may be an appropriate time to examine what exactly are the Pros and Cons of having your business run through Facebook.
Pros of Facebook
1. Targeting is very specific. For example, if your business is selling specific services in a certain geographical location you can target by the industry and average location of the people around you. Once you identify the correct target market and advertise the right services you’ll have hot leads coming to you that want to work with you. This method substitutes cold calling and can be far more effective and time saving. Once you have a lot of leads it’s time for you to scale and introduce videos up to 1 minute that explains your product/service. The more revenue you generate the more you can invest into ads and get more leads for your business.
2. The size of your audience. With an estimated 1.3 billion users and growing Facebook is easily the worlds largest social media platform. It’s very hard to ignore to the sheer size of Facebook’s reach.
3. Creating a brand story. Once people hear your business’s name repeated by a handful of different people they’ll start to recognize your story. Once you create a powerful enough brand you can start doing giveaways which will bring you even more customers and leads to your business.
Cons of Facebook
1. Expect it to be an uphill battle. As easy and fun Facebook may sound it also can cause heartaches, if you’re just starting out expect to lose some money in the process if you’re not hiring an expert. The positives of Facebooks users size is also a negative in the size of the competition to your potential audience’s attention. Until you learn what exactly works for your business except a very low return on investment. Starting out it’s not an uncommon story to spend a good amount of money and endless hours and not generate a single lead. For some it may feel like the whole thing is a complete waste.
2. Targeting the wrong audience. This has a lot more potential for harm than people think. If you focus too heavily into targeting that wrong audience, the result is people not liking your brand and spreading bad reputation. Think about it like this, if you’re a gym owner and you’re selling people who are already fit into weight loss, would anyone buy from you? Worse, if your target market incudes a majority of your competitors than they will not waste the opportunity to discredit you before you have time to build up good relations.
Thankfully, it’s not an agonizing task to build up your reach and reputation on Facebook if you have access to a good support network. With a few good testimonials and some shares your business has the potential to reach tens of thousands of your target market. It is important to remember that Facebook is a SOCIAL media platform, not the yellow pages. Engage with your potential clients and make yourself memorable and remember that a well-crafted sales pitch still loses out to a trusted personal recommendation.