The social networking phenomenon Facebook has proven to be one of the most remarkable success stories of the modern age, growing from a way for college friends to keep in touch, it now has an unprecedented global reach with over 400 million active users.
The sheer number of Facebook users has also made it a fertile ground for online marketing, with Facebook adverts fast becoming known as an ideal way for businesses to reach the right kind of customer.
This is because Facebook stores many of a user’s personal details, plus a list of their likes and dislikes – making it far easier for online marketing experts to target the right consumers for their products.
Because of this unique new marketing opportunity, there has been a concomitant increase in the number of organisations and publications dedicated to helping businesses reconfigure their online marketing strategies to take maximum advantage of the situation.
A lot of these businesses teach marketing departments or small business owners how to use Facebook features such as the “Like” option, which helps build an internal hierarchy within the website and swiftly shows which ideas, brands or products are popular – and with who.
With extra marketing applications such as Facebook ads in place, and more on the way over the next five years, it looks as if the social networking site will be reaping even greater financial rewards – it already makes more than a billion dollars a year and expects to increase this tenfold by 2015 – and it makes sense for any business committed to online marketing to try and get on board.