Tim Judd sent a post from DMS 2011 with some interesting updates about Facebook. His comments come on the heels of major (and somewhat annoying) changes to Facebook and the f8 conference in San Francisco. f8 is Facebook’s conference for developers and innovators.
The news from DMS was surprising, confusing, and promising. Facebook reported that although Facebook has over 750 million users and that over 48% of all SMBs are “doing” Facebook; most create a page, update business hours and little else.
SMBs are still confused about how to use Facebook (and social media in general) as a marketing tool. Facebook provided some great tips for SMBs to reach out to their fans through targeted ads, promotions, events, and deals. It reinforced what many of us already know; it is difficult to use Facebook to drive calls.
During the session, Facebook revealed that the cost of advertising on Facebook had decreased and that inventory had increased. This was promising news, as it would allow SMBs with a more affordable and targeted advertising option. Then, surprisingly, they announced that it had a total of three people working on Small Business Strategies. I am still scratching my head over this one! I guess Facebook felt it was important enough to attend DMS, but not to read the first paragraph of their home page;
“Globally there are an estimated 50 million SMBs, spending tens of billions of dollars on media and advertising. BIA/Kelsey’s new U.S. SMB Spending Forecast (2010-2015) indicates that SMBs will allocate 70 percent of their marketing budgets to digital/online media, performance-based commerce and customer retention business solutions by 2015.”
There is no real news here as SMBs and lead generation providers like eLocal Listing continue to try to find a way to drive calls to SMBs.