Undoubtedly, Facebook is the most popular social network today. According to a survey report prepared by Pew Research Center, USA; over 66% of adults who use internet, are on Facebook. The site remained the most popular in the age group of 19-29, where 92% of people are on Facebook. However, the most striking fact about Facebook is its handsome year on year growth. In October 2012, the website claimed crossing one billion mark; showing a 26% increase in its population. This phenomenal growth is what drove Facebook to stock registration and going public limited company after LinkedIn’s successful IPO.
Why Facebook is Popular in Business Community?
Looking at the drivers of growth, the website has been continuously improving its interface and introducing creative features for the better user experience. Particularly from corporate perspective, the website has been rightly trying to attract businesses and commercial entities to invest in its advertisement program. Additionally, through introduction of groups, Fanpages and social apps; the Facebook provided a bundle of useful ways to businesses for promoting them and attract new customers.
Today, almost all big brands have their dedicated pages on Facebook. According to statistical analysis of SocialBaker; Coca Cola, Disney, Red Bull, Starbucks, PlayStation, and Samsung Mobile USA have the most popular brands on Facebook. Other than that, personality brands like Will Smith, Lady Gaga, Justin Bieber and Shakira are also in top 10 most popular pages on Facebook. Not a single business entity can ignore the handsome population this network has. Though, many experts have raised their eyebrows on conversion rate on Facebook; still it has a great value in terms of brand development and loyalty enhancement. Today
Is Facebook Sufficient for Your Business?
The above given analysis of Facebook popularity is an indication of its utility for businesses. However, as I have noted above; there are many question on Facebook’s ability to drive sales and convert prospects into customers. This perception/concern of business community was one of the primary reasons behind falling share price of Facebook. Despite growth in revenue, the percentage of profits has declined. Actually, the primary goal of any commercial entity is to drive business growth by using the power of its brand. However, Facebook has many types of limitations when it comes to business development.
Limitations and Projected Concerns:
Solution: What Is The Way Out?
Having a sound and self-hosted website is the most logical solution that perfectly deals with all of the concerns listed above. Your website is your personal selling place, where you can highlight your USP’s and provide all details about your business. Self-hosted web pages are your personal belonging and have no fear of getting removed. Above all, you can directly invite customers to engage in commercial relationship through your website. To learn more about why your business needs a website, you can see the infographical depiction by Dzyneage, which elaborates 5 most important factors telling a business to design as website. It gives your company added reliability and improves your electronic presence.
Finally, this discussion is not aimed at discouraging you from using social networks for business purposes. A balanced existence and effective usage of social networks for driving traffic to your website is highly recommended. However, we do not recommend over-reliance or sole-dependence on social networks including Facebook.