Facebook: Money Pit or Business Owner’s Friend?

Facebook. Most of us us it. Many of our parents even manage to use the large social community to post memes, misinformed political rants, and share photos. So, while that does not cover the entire expanse of Facebook, it has devolved into the tired standard. For Businesses, Facebook has become a MONEY PIT. That can work one of two ways – it can either eat through your profits or gain you an audience you may not have had before.

Is it right for your business?

It is a truth universally known that Facebook algorithms change…often. When they change, your audience reach grows ever smaller. The only way to recoup your loss is by digging deep into your wallet. If you manage a page, you know all too well the constant reminder that Facebook wants you to boost your post. The advertisement claims that similar posts don’t do as well and with a little money you can achieve a large audience reach.

The big question – Is It Worth It?

Quite simply, yes and no.

On one hand you may reach more people as Facebook places your curated ad or post into various news-feeds. The audience held ransom as you invest more money to show up in news feeds.

Ask yourself two questions, does the conversion translate? Does your investment in a boosted ad translate to monetary business for you?

Not necessarily.

The fact remains, being smart about where you invest your money is the ultimate payoff. Facebook may not be the best fit for such an investment. While this may vary by the type of business you own, Facebook Business Pages are a glorified Yellow Pages app. It contains all your pertinent information and can relay information in only the best way it knows how.

There is hope. Know your demographic and business. Many businesses benefit from using a visual strategy. While Instagram is now owned by Facebook, the big difference is the visual appeal. Instagram is very (#)hashtag based. Researching hashtags is your best tactic. As I addressed in a previous post Are You Down with the Hashtag they are essentially keywords or key phrases to that allow your post to be searchable in a sea of content. Time of day is also important. Consider when your preferred demographic may be more active on Instagram.

You can use great programs that handle your social media needs or link your Instagram to your Facebook page allowing your post to appear on both of your accounts.

Remember, be smart with how you use your social media. It can either make or break your business.