There’s no doubt that Facebook is the undisputed leader in social media advertising. No other network – be it Google+, Twitter, YouTube or LinkedIn can match Facebook’s social media advertising might. Ever since Facebook unveiled its advertising feature, advertisers and businesses have lined up in huge numbers to reach out to the 700 million strong Facebook community.
Back in April, Facebook increased the per click rate by nearly 40 percent, the price hike was specifically for Facebook’s self-service ads. As expected, most small business owners cried foul that such measures are likely to make Facebook advertising unaffordable for them.
A number of big names such as Washington Post have leveraged Facebook for advertising to launch their own tools/ platforms such as SocialCode, a subsidiary that will help brands build and monetize their presence on Facebook. However, dealing with such third-parties is a costly proposition and most small business owners do not have the budget to do so.
Thankfully, Facebook has finally responded to the public criticism by SMBs and decided to help them out with free ads.
Free Ads for Small Businesses
Last week, the world’s leading social network announced that it will give away $10 million of advertising credits to small business owners. The initiative is being launched in partnership with the U.S. Chamber of Commerce and National Federation of Independent Business, a small-business group.
Facebook says the objective of this offer is to educate small businesses on how to promote themselves on the social-networking site, like buying display ads targeted to specific markets, but also through cost-free measures to engage more with customers. Facebook will give away $50 per business in free advertising credits to around 200,000 small businesses, on first come first serve basis, when purchasing ads on the social networking web site.
Small Businesses Can Think Big
Despite being the world’s leading social media advertising platform, Facebook’s penetration in the small business segment is rather dismal. Though it makes almost $4.05 billion in global advertising revenue, merely 9.2 million small businesses are using Facebook advertising to reach out to their customers. To put things in perspective, United States alone has 30 million small businesses registered in the United States. Clearly, there’s a massive untapped SMB market waiting to be conquered.
Why should Small Businesses Use Facebook Advertising?
Back in May, I wrote a post about why you should promote your small business with Facebook ads. As I mentioned then, there are several reasons which make Facebook the most effective social media advertising tool around.
* Monster User base – Facebook has more than 700 million active users and it continues to grow at a staggering pace
* Targeted audience – Facebook business profiles and pages let businesses build targeted audiences. People spend a lot of time on Facebook so there’s a massive potential to deliver advertising.
* Facebook Ecosystem – The world’s leading social network is also the most mature and dynamic ecosystem for business users. Apart from advertising, Facebook routinely comes up with new and interesting features such as lists, subscribe button and I strongly believe that the best of Facebook is yet to come.
The world’s leading social network continues to experiment with various ad models – such as adding users’ updates into display ads. Businesses are always on the lookout for new and compelling ways to capture audiences and Facebook provides an ideal platform for innovation. Facebook is about to turn the tide for small business advertising, are you in? Please share your opinion by leaving a comment.
So How do you get access to or apply for this program?
Here’s a joint press release from Facebook, the National Federation of Independent Business, and U.S. Chamber of Commerce that will help you best answer your very valid question @twitter-272812741:disqus : http://www.nfib.com/press-media/press-media-item?cmsid=58304
What about non-profits?
Unfortunately @cd37e77b058ee8c5f16bc78f8b4560c9:disqus , this is only directed toward, I believe, the US business sector at this time.
And what do you think of Google Plus? I was wondering why there wasn’t a Google +1 button here. More and more, I’ve beginning to see the relevance in terms of seo search.
Google Plus is another fantastic platform that we haven’t seen its best yet @ilovegarick:disqus . And the Google +1 button it coming with our refreshed smedio.com launching in the coming weeks. Thanks for noticing and stay tuned.
I am trying to promote / brand my nonprofit http://www.AlcoholicShare.org / how can I get a free ad on Facebook , still not sure but will figure it out , if you know, plaese email me off contact page on my site listed above. Any Blog that can help me with a small advertisement / please contact / would live your help, many thanks, Thomas Gillis
Well that is a great news specially for those who have small business. I have make a fan page of my site. Can anyone tell me how i can display ad for that free of cost??
I mean how can i apply for this program???
You cannot even imagine how helpful your article has been to me! Thanks a lot!
A very nice gesture by Facebook, I hope they roll it out to Europe too
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