Some may argue that Facebook is only good for posting selfies, YouTube videos, and news articles. Despite these critiques, Facebook is an excellent tool for promoting small businesses. A study from G/O Digital called “Facebook Advertising: The Social Commerce Lifeline for Small Business,” states that purchasing decisions from consumers online and in store are largely influenced by the social media website.
Millennials are primarily the ones who utilize the site for making buying decisions, according to the report.
In fact, the ads that are posted by small businesses are engaged once per week by 60 percent of consumers polled within the 18-29 age range.
The report listed a comparison of which social media sites that consumers commonly use to research small businesses. 62 percent of consumers use Facebook, while only 11 percent and 12 percent use Twitter and Pinterest respectively. Also, Facebook receives weekly visits from 59 percent of those millennials that were surveyed.
Many small businesses have significantly benefited from using Facebook. At a Facebook event in Menlo, CA a couple of small businesses claimed that using Facebook ads have significantly enhanced their brand and generated more business.
Read G/O Digital’s full report here.