How Do Facebook’s Recent Updates Impact Your Business?
Global eCommerce sales reached $26.7 trillion in 2020, triggered by the COVID pandemic. Not just eCommerce, according to the Facebook State of Small Business Report, 55% of small businesses have started using digital tools to increase their sales and communicate with customers.
Facebook has noticed that using digital tools helps businesses easily connect with customers online and grow their digital sales, much like the digital tools that have been created to afford many employees to find meaning and purpose while working remotely. Hence, there are several tools and new features that Facebook has launched to help small businesses grow more efficiently.
Update #1. Easy ways to explore content from related businesses
People discover new businesses through the news feed. Therefore, Facebook is now providing companies with a new way to get found where people can tap on topics they are interested in and explore content from similar businesses.
How does exploring similar businesses work?
The idea is to direct users to other content. When people click on topics under posts and ads, a new drop-down will open up with an option to explore other businesses from the same area.
How does exploring similar businesses impact businesses?
Content from related businesses is a great way to expand the visibility of your business. Small businesses can reach people browsing businesses in their area and connect with them.
How does exploring similar businesses impact marketing?
As a business, you should start leveraging this new feature to enable your business to be discovered when people are looking for other similar companies in your area.
Facebook will track the user’s actions, like the content that receives the maximum clicks and businesses that people like to engage with. In the future, Facebook might start to display sponsored listings under the related business area.
Currently, this new feature is being launched in the US and gradually will be available in other countries.
Update #2. Tools to manage Facebook pages without leaving the Facebook app
As part of the Facebook Page Experience update launched in January, new tools and features are being launched that will allow businesses to engage with customers as a business.
With the help of easy navigation between a personal profile and a business page, page owners can quickly navigate to their business profile page. They can discover or join conversations, follow trends, communicate with customers, and engage with followers as a business.
How does Page Experience work?
Here are some of the top changes that Facebook did to encourage community building and make it easier for people to find content from other businesses:
- A new dedicated business news feed to allow businesses to share recent updates and engage with followers.
- A professional dashboard containing all the tools to manage the business page.
- Removal of likes and focusing on followers where people can receive updates from businesses they follow.
- Clearer task-based permissions to allow access to different account-level activities such as insights, ads, content, and community management.
- Improved safety and integrity features where businesses would be given a verified badge to easily distinguish posts and comments from genuine business profiles.
How does Page Experience impact businesses?
Businesses will now have the option to manage their account activity better and reach customers or followers using their business accounts. Moreover, smarter account access limitations will enable easier account management among different groups of users.
How does Page Experience impact marketing?
Facebook marketing will now be more brand-focused because businesses will be able to reach prospects using their business profile name and verified business badges.
Update #3. Central management of Facebook and Instagram business accounts
Facebook Business Suite will help businesses save time and money by centrally managing their business accounts on Facebook and Instagram.
Facebook says, “We’re building Facebook Business Suite for small businesses first, but this is a long-term investment to make this the main interface for businesses of all sizes who use Facebook, Messenger, Instagram, and WhatsApp.”
How does the Facebook Business Suite work?
Here are the tasks that a business can accomplish using the Facebook Business Suite:
- Businesses can post to Facebook and Instagram at the same time.
- They can manage their messages, inbox and receive all their notifications or alerts in one place. There is no need to shuffle between Facebook and Instagram dashboards to connect and respond to customers.
- Both Facebook and Instagram insights are available in the dashboard that will give businesses an idea of how they are connecting with their followers and growing as a business.
How does the Facebook Business Suite impact businesses?
63% of users have already said that Facebook Business Suite has helped them improve their sales. For instance, businesses like Stars N Skyes Travel have saved up to 10 hours every week after switching to Facebook Business Suite.
Nita Cooper of Stars N Skyes Travel said, “Time saved on posting content has given me so much more time to focus on other projects. I estimate I’m saving about 10 hours a week after switching to Facebook Business Suite.”
How does the Facebook Business Suite impact marketing?
Since both the Facebook and Instagram insights are available under one central dashboard, businesses can take a deep look at the campaigns’ performance and manage their organic activity in an organized manner by following a data-driven approach.
Update #4. New ad optimization goals
Facebook has launched two new ad optimization goals, namely, the conversion leads goals for leads ads and call ads optimization goals for call ads.
How do these ad optimization goals work?
The new conversion leads goal for lead ads allows advertisers to generate leads faster. Besides, businesses now have the option to integrate their CRM data with Facebook.
Besides, the call ad optimization goals enable businesses to connect with customers in real-time. It helps to reduce the cost per quality call and improves the performance of call ads.
How do ad optimization goals impact businesses?
Businesses using these ads goals will have a better ROI on ad spend and will be able to reach more customers even on a tight budget.
How do ad optimization goals impact marketing?
Lead ads with conversion leads saw a 20% increase in lead-to-sale conversion rate. Therefore, businesses of all sizes can utilize this new feature to optimize their ad campaigns to reach relevant prospects.
Similarly, during a test, ads with call ads optimization goals saw a 30% reduction in cost per quality call. Businesses can leverage this new ad goal type to reach potential customers urgently looking for products or services they sell. This is a great way to maximize the value of Facebook ad investment.
Update #5. Convert lead ads forms into Messenger templates
To allow businesses to encourage customer communication, advertisers can now convert lead ads forms into messenger templates to start messaging potential customers.
How do Messenger ads work?
Businesses are now able to run ad campaigns that click to message. By doing so, you can start conversations with potential customers. When the user clicks on the ‘Send a message’ option, ads will open on Messenger, Instagram, or Whatsapp.
How do messenger ads impact businesses?
Businesses can now reach customers who are ready to communicate with the brand using Messenger as a medium. This new feature helps businesses connect with customers who are hesitant to direct calls.
How do messenger ads impact marketing?
Newsome interactive used this strategy to drive a 13% lift in ad volume and 65% additional tours scheduled with Messenger. Jessica Pope of Newsome Interactive said, “Messenger ads have been a good addition to our long-running marketing strategy. They have reached new audiences, amplified the on-app experience, and helped scale our company during this unique year of 2020.”
The need for digital communication is increasing, and Facebook is doing its best to provide businesses with modern-age communication and advertising tools to reach potential prospects.
In the coming months, Facebook will continue to launch new updates to its Page Experience module and add new features in its Facebook Business Suite to help businesses make the most of Facebook as an audience building, advertising, and collaboration platform.
Written by: Sarah Lefebvre
Winner REB Marketing Professional of the Year Award 202
Author bio: Over the last 11 years Sarah Lefebvre has led the digital content strategy for two of Australia’s largest real estate brands and has worked with local real estate offices and agents to supercharge their content and lead generation programs.
Having seen first-hand how content marketing can transform real estate businesses at a corporate level and drive leads into a business, Sarah now wants to help all agents and offices down the same path to success. Localiz offers bespoke, multi-touch inbound marketing programs and unique content marketing solutions for agents and agencies right across Australia.