Facebook 
Facebook is by far the largest social media platform with over 500M profiles. Anybody and everybody is on it. If you are a business-to-consumer (B2C) company, you’d better be on it too. “Engage or Die”
Facebook is free to use. There are millions of fan pages for businesses, individuals, non-profits and pretty much anything else you can think of. The trick is knowing how to use it effectively. There are two schools of thought on this – which will be addressed in a later post.
Business pages allow fans to come together and create a community within the facebook community, clustered around that company and their products or services. The best way to get involvement is through consistent daily or semi-daily communication by the company on that page. this interaction shows up in the fans’ news feeds and is seen by their friends. This keeps the fans engaged in the direction of the company. Not only does this lend itself to expanding the fan base by increasing the company’s exposure, but it also allows the fans to help guide the direction of the company via direct input on what they like and want. (P.S. Did I mention that this is FREE and requires no costly surveys, etc…?)
This represents a potentially magnificent savings on R&D as well as reduced risk in new product releases and test marketing. This represents a direct benefit to the company bottom line and capital risk exposure. (i.e. It helps your cashflow!) This in and of itself is a reason to have a facebook page. “But wait, there’s more!”… And it will be covered in a later post.
(Hint: It involves the ability of Facebook to connect each social medium your company uses)
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