Tag Archives: Why your business needs to be on Facebook

Don’t Believe the Hype – Facebook is Not Dead

There’s been a lot of talk recently that the rocky launch of Facebook on the stock market is a sign that the company, as we know it, is dead. Some folks would have you believe that Facebook has run its’ race. Don’t fall for the recent share-hype – Facebook is Not Dead. Far from it. And for anyone with their Business already on Facebook or looking to get onto Social Media, don’t panic. As my teenage son would say, “It’s all good.”

In this post I talk about the 10 main reasons why your Business STILL needs to be on Facebook even though the recent share-float is off to a shaky start. I just want to clear the air on this subject because it’s been bugging me every time someone says “haven’t you heard the share launch has failed so Facebook is over?” Alot of the clients I mentor and work for have also been asking me to write a post on this topic as some folks are now worried that they have been wasting their time putting their businesses onto Social Media.

Okay, so here’s the deal. The share launch has not failed. In my opinion, it is just finding its feet (and having worked in the stock market industry in my earlier career, I’ve seen companies take aaagggggeeees to sort out their stock-launch teething problems). And Facebook WILL find it’s optimal share-price, just give it some time. Why am I so confident about this? Let’s get real. Facebook was a strong company BEFORE the share float. And guesss what, it’s still a strong company AFTER the share float. Facebook just needs to find its right price, in the marketplace, in the real world. A wobbly share float doesn’t wipe out the company. It just means that the accountants and the underwriters need to get the logistics right. The Google share launch didn’t go according to plan either, back in its’ day. But Google founds its’ feet, eventually. And the last time I looked, Google share prices were looking very healthy. Besides, Facebook must be a strong company to even consider a share launch in the first place.

Question: How many companies before today have had a rocky start on the stock market?

Answer: Loads, we just don’t hear that much about them. Yes I do believe that Facebook has copped a fair share of media hype over this share launch. But Facebook should expect that, being such a large company.

And let’s not forget that share prices only ever reflect the sentiment of the stock market within the economic climate at the time. There is also a general lack of enthusiasm from the stock market when internet-based companies want to float some shares, regardless of how strong the company is. Traditionally, the stock-market has always treated “Internet” companies with great caution.

However, online, in the internet world, Facebook still rules supreme. Why do I say this? Because here are 10 great reasons why your business STILL needs to be on Facebook….

  1. Out of all the companies that are offering TO MARKET YOUR BUSINESS online for you, Facebook is still one of the biggest companies on the inter-webs. And out of all the Social Media platforms available today, Facebook is still the biggest. By a long shot. Facebook has almost 1 billion users and no other system online comes close to this. If Facebook were a country, it would be the 3rd largest country in the world.
  2. Facebook is rivaling Google for the biggest slice of internet attention. That’s a lot of eyeballs that could be looking at your business and who could be buying products from you. Your business needs to be on Facebook. Your business needs these eyeballs looking at your products.
  3. Facebook is a free platform to showcase your business. On Facebook, you can find new customers that you never had before. Treat Facebook as a brand new shiny market that your business never had access to. Treat Facebook as a free website for you business, but with loads more dialogue.
  4. Facebook has very deep analysis of its 1 billion users. This analysis is given to you on a silver platter in the form of Facebook Ads. You can grab this opportunity and advertise your little heart out to the preferences of a slice of these 1 billion users. There is NO OTHER platform on this blue planet that gives you this kind of accurate demographic to advertise to. Marketing companies spend thousands of dollars to reach a targeted audience like this in any other scenario. Compared to all other forms of advertising, Facebook advertising is actually very low cost, from only a few dollars a day. Pretty inexpensive marketing really.
  5. Facebook is a community, and this community is not going anywhere else anytime soon. The community on Facebook is driven by something a lot deeper than economics; it’s driven by the human need to connect. After food and shelter, our need to belong is very primal and instinctive. Whether you use Facebook for business or pleasure, everyone on Facebook is essentially CONNECTING with eachother.
  6. Facebook for Business is just marketing and it should be an important part of the marketing mix for your business. Relying on Facebook alone is a mistake though. I always advise the clients that I mentor one-on-one that it’s essential to use various different tools to market your business. Do not rely on one platform alone. However, just because the initial Facebook share float has not gone according to plan, this does not mean Facebook should be ignored as an advertising channel for your business.
  7. Including Social Media in your business is very important if you want to remain competitive and if you want new customers to discover your product. Discovery is the first step to achieving a sale. Without discovery, there is no sale. Facebook is a powerful way for your product to be discovered.
  8. Facebook is a brilliant way to engage your customers. Here is a juicy opportunity to regularly remind your customers that you exist, and hopefully, they may purchase again from you in the future. Facebook allows you to frequently be in front of your customers, when, chances are, they may have otherwise long forgotten about you. Treat Facebook as a big subscription list but with pictures and alot more fun :)
  9. Facebook is a perfect place to do market research – asking questions of your Fans about products they may want or services they may need, is a match made in heaven. This is a free forum for market research folks!
  10. And most important of all, you can make money on Facebook! Facebook is just another shop front for your business. I can’t imagine why anyone would want fewer channels for selling their products!

 

My opinion? This share price kafuffle is just teething problems in the back-office-accounting department. So it looks like the share-price organisers got a few things wrong at this share-launch party. So what! We’ve all thrown a dud party or launched a dodgy product, right? And yes, if your business is already on Facebook, I do believe you have turned up to the right party (online).

My advice? Ignore Facebook at your own (business’) peril.

So it’s a big phat…..

Facebook essential for Business Marketint

…. from me….

What do you think? Do you think Facebook is doomed? Or can you see the benefits of Facebook for your business? I’d love to hear your opinion on this…. And can you think of other great reasons to be on Facebook with your business? Drop me a comment and tell me your thoughts, I’d love to hear from you…… and don’t forget to like this post if you found any information in this article interesting or helpful….

 

Cheers

Francesca Esposito-Rose

I’m Still a Believer