Christian Taylor, CEO of Payvment (a shopping platform inside Facebook), has 5 SME tips for small businesses to take advantage of and use Facebook to promote their companies:

SME Tips to better utilize Facebook business pages

SME Tips to better utilize Facebook business pages

SME Tips list: Differentiate:

With over 1.4 billion million users on Facebook, it’s easy for your business to be confused with another. Make good use of the “About” tab and fill out the company overview, mission, and website sections so users can be clear about who you are. Also, be sure to use your logo as your profile picture so users can recognize your brand.

Promote:

How are fans going to find your company if they don’t even know you’re on Facebook? Start by adding a link to your Facebook page in your email signature, newsletter, online and printed ads. Do I need to say your website as well?

Analyze:

Utilize Facebook’s analytics tool (the Insights tab) to monitor the activity of your wall posts. Experiment with different kinds of posts (ask your followers a specific question one day and post an article relevant to your business the next) to see which garners the best response. Check the Posts tab, and check the Times your posts reach the most number of your fans and followers. Put the Schedule feature to good use.

Incentivize:

A study by the social media firm Syncapse in year 2010 found that Facebook fans are 41% more likely to recommend a consumer product and 28% more likely to continue using it. A Facebook fan spends $71.84 more per year than a non-fan and is worth on average $136.38. Offering Facebook fan discounts is a powerful way for small business retailers to build a fan club, and increase loyalty and sales.

Sell:

By installing an app like Shopify App for Facebook or Payvment, small business owners can create a free online store, in a matter of minutes, expanding a company’s reach to millions of new potential customers. You can also try the new Shop Now icon on Facebook pages.

[Photo credit: Flickr / laughingsquid]

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