Facebook is a prominent social media platform
Facebook, founded in 2004, has various useful characteristics and features that can be utilized to monitor and control the content by restricting how it can be manipulated hence; helping in advertising or passing accurate information. Information can be dispatched positively from the sender and receiver and all the peers that promote interaction among the users. Moreover, Facebook was rearranged in 2009 to concentrate on news feeds, which shows real-time information to both the user-profiles and the brands or products being advertised. Facebook users can easily interact and relate with the individuals who are popular because of the regular updates. It is a prominent social media platform because it allows conversations around the past and current brands, products, and services the organization offers.
Many businesses’ primary objective is to expand their market by attracting many customers to sell their goods and services; hence, leading to increased profits and revenues. The use of Facebook as a media of communication is of help to most businesses because of its popularity, for it cuts across all ages, gender, races, nations, and cultures. The cost of advertising and promotion has been tremendously increasing in the last four decades; therefore, most businesses prefer using social media platforms such as Facebook to communicate with their esteem clients and consumers. Advertising using Facebook is affordable and can reach millions of customers within the shortest time, and feedback relayed instantly.
Furthermore, Facebook has a characteristic of being popular with more than 1.94 billion users globally because it can be easily accessed and can share posts, comments, and information daily. Business can utilize Facebook messenger feature that is an ideal medium to communicate between the company and customers, therefore, improving interaction because pictures of the products, branded materials, emoticons, and video can be shared very easily. Constant messaging is a crucial marketing strategy that the social medium can use to attract more customers. Facebook messenger feature offers a significant milestone because it is a two-way traffic advertising communication medium between the business and potential customers. Besides, it creates and establishes long term relationships beyond business with customers. The feedback received can be used to brand further and improve the qualities of the products to suit customer taste and preference. Messenger codes are useful as consumers can directly send private messages to the business because it can be used when offline. Also, Facebook pages can be screenshot, scanned, and uploaded to their website and connecting with potential customers by sharing the code online.
Social media is a powerful tool used in marketing because it creates long-lasting customer loyalty. After all, a single message can be passed to millions of people simultaneously known as parallel communication, where immediate feedback or response is achieved. Customers get to know the prices, discounts, offers, features of the products and services, availability, and new products available without straining by making orders to deliver to them. Responses are instant and effective; therefore, increasing sales, revenues, and the company’s profitability.
Additionally, it has replaced the traditional methods of communication between businesses and clients that utilized B2B (Business to Business) and B2C (Business to customer). However, it has promoted C2C (Customer to Customer) and C2B (Customer to Business), which is more effective, reliable, and supporting business growth. It allows fans and clients to post their opinions, contents, feedback, and positive criticisms that help in promoting the company’s products, brand, and image to attract new and maintain existing customers. Facebook is globally, therefore, making known the products and services of a company beyond local domestic boundaries.
There are more than 4 million companies globally advertising and promoting their products and using social media, especially Facebook. For example, most of the electronic companies, especially mobile phones and other appliances, use it to reach their customers rather than the traditional methods. With widespread COVID-19 globally, Facebook is the most sort medium by most businesses to remain relevant and keep in touch with their customers. It has continued to connect clients and businesses even at the time of calamities, given that internet connectivity is reliable and affordable to many people. Different Facebook pages targeting specific groups, for instance, youth, the old, women, men, children, and any other cadre of customers targeted. Small and medium businesses that cannot afford the develop a website have utilized Facebook to market their products and services and have significantly increased their sales and revenues. More than 3 million video ads are created monthly and posted using the Facebook platform, making it the most used social media both locally and internationally, to reach customers.
Mobile phones have accelerated the use of Facebook to market businesses, especially in South Asia, USA, India, UK, China, Mexico, and Brazil, where it is estimated that over 80% of active businesses are advertised using Facebook. Facebook is becoming attractive because of its features, which are improved continuously through research and feedback from the users. Instilling restrictions on what is posted on the Facebook page promotes relevance and ensures ads are decent and not offensive. Anyone posting irrelevant content can be punished or blocked from accessing the page. With these frameworks, it will pass the right ads, and the message reaches the customers without distortions or misinformation. Financial institutions have advanced and reached their customers using the Facebook platform to offer loans and other related financial services.