Facebook As A Business Tool

Running head: FACEBOOK AS A BUSINESS TOOL
Facebook as a business Tool
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FACEBOOK AS A BUSINESS TOOL
The world of social media has no doubt brought in ample amount of business
development opportunities alongside its very strong networking and marketing approach. The
reach, the speed coupled with cost effectiveness is increasingly making social media the most
chosen platform for business transactions by large as well as small scale companies.
According to Baruah (2012), Facebook with its 2.27 billion monthly users has potential to
promote business products and services, increase customer retention and support as well as
boost recognition.. In this article, the central emphasis would be in understanding the
potentials of Facebook in business development and what are its wide spread impact across
varied business sector.
. The concept of Facebook for business is no doubt an integrated marketing
communication approach which according Çaliciolu, (2014) aids the business organisation by
providing multi-media promotional campaign ether through its class advertisings attractive
announcement aspects or sponsored brand advertising stories. To better analyse the impact of
Facebook on business, it is beneficial to analyse what makes Facebook so attractive to
marketers as well as consumers. According to the market researchers the financial flexibility
that the business developers aim to achieve in their business operation is making them opt for
this radical shift from mainstream banking to mobile banking services where the very process
of managing financing is getting digitalised. Facebook in such a scenario is helping these
banks develop mobile built apps which have significantly gained a lot of popularity in the
past five years. Mobile banking apps like “Chat Banker”, “Paym” have altogether
revolutionized the experience of financial service sector for its customers (Rao, 2016).
In the retail and e- commerce business, Facebook for Business has shown tremendous
success results where it ensures perfect reach of the brand across its 2.5 billion user base
every month, to bringing in more buyers through effortless signup process, email marketing
and hassle free mobile app installations to finally making the sell happen. One of the leading