Facebook for Businesses: Losers, Risk-Takers, and Winners. Where Do You Fit?

Facebook for Businesses

The best social media platform for businesses is Facebook. Are you using it effectively for your business?

Almost 16 years ago, the founder of Microsoft (Bill Gates) made an interesting statement. He said in the future there will be only two kinds of businesses: those with an Internet presence, and those with no business at all.

Today, I would modify that statement to say that in the future there will be only two kinds of businesses: those with a Facebook presence, and those with no business at all!

So why do companies need to be on Facebook in the first place? Well, here some real-life reasons of being on the blue social platform:

  1. Increase brand awareness and stay top-of-mind with customers and target audiences.
  2. Save on marketing spend. Yes, Facebook is totally free (except if you choose to advertise) and you can connect with all your potential and existing customers with a single ‘Status Update’ 24 hours, 7 days a week.
  3. Lead generation and promotions. Many companies enjoy constant amount of new enquires generated from Facebook. Those customers are easy to acquire and loyal due to the fact that they found you from Facebook word-of-mouth.
  4. Sales and business development. The concept of Socially Facilitated Selling has changed how business is done today. Now you need to be social and understand the buying cycle of your customers on Facebook.
  5. Customer service. If you want to do the bare minimum in being customer oriented and customer centred, then you need to be communicating with your customers thru their preferred channel, and today it is Facebook.
  6. Research and feedback on product or services. Facebook allows you to post questions and polls to get instant feedback from your target audience. The days of hiring a research firm to conduct surveys are gone forever.
  7. One last reason… Simply if you are not on Facebook, your competitors are. So guess what will happen in the long run if you don’t get in quickly. Most probably you will have lost this market space, and even if you move in late you will be playing a catch-up game.

Now that we have covered some of the most basic reasons why companies need to be on Facebook, let me show you 3 kinds of businesses that are using Facebook differently:

1) LOSERS: These are the companies that are just watching from a distance for the following reasons:

  • Afraid of things going wrong on the largest social platform, i.e. Facebook!
  • Lacking the knowledge of how to conduct business on Facebook: how to start, manage, and plan
  • Worried about their brand reputation, and the possibility that their fans might complain about their products or services
  • Unable to identify or measure the true ROI from starting and investing in Facebook
  • Ignorant! Yes, there are many companies that are simply comfortable with traditional media and resisting to change
  • They don’t have a clear idea of how to do business on Facebook

 2) RISK-TAKERS: A lot of companies are jumping into the Facebook bandwagon to get into the social conversation. Most of them suffer from excitement-withdrawal symptoms when they don’t get the expected results after spending time and effort on Facebook. Usually they experience most, if not all, of the following:

  • They have been attracted to the cool features on Facebook and try do nice things, but they find there is no tangible business benefit
  • They have not been able to break through the Facebook clutter and establish brand awareness
  • They have realized that Facebook takes a lot of time, and almost impossible to manage effectively without necessary resources
  • They have tried to promote their brand only to get a backlash and negative PR
  • They build a fan base, but they don’t know how to keep them engaged or what to do with it, or how to monetize it
  • Unable to answer the question of what their Facebook investment has added to their bottom-line?

 3) WINNERS: These companies have reacted to Facebook with a different mentality. They are a smart-crowd and tend to learn and invest in elevating their knowledge about Facebook before they do anything serious on it. The usually do the following:

  • Invest in themselves and their staff by educating and by attending social media courses
  • Join training workshops about Facebook, and involve their team members from all levels and functions
  • Develop a complete plan and strategy for Facebook before even touching the ‘Like’ button
  • Have a research and development process in place to monitor the competition and identify relevant benchmarks
  • Seek advice and consult with experts to avoid guesswork and negative results
  • Set clear business objectives and allocate the necessary resources to Facebook effectively

If you are really serious in helping yourself and your organization to make it in this Facebook-driven world, then I would highly recommend that you consider the winners approach. Do invest your time, and involve your team, in learning more about this powerful platform.

I have been asked by many companies and professionals to enhance their knowledge so that they and their organizations can succeed on Facebook. However, this requires commitment, as they need to be ready to learn! Therefore, I have worked with a global team of Facebook experts and developed a complete training and coaching program called “Facebook for Businesses“.

If you are interested in this program, then check out the details on WSI Academy website. I hope to meet with you soon (if you choose to become a winner) at the upcoming workshop where you will learn how to use Facebook for your Business.

Are you ready to know about the success strategy of Facebook for Businesses? Contact me for more details.

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