It's been quite a while that our searches on online platforms have been followed and advertisements of similar products have been pushed in our social media accounts such as Insta and Facebook.
Advertising on social media such as Facebook is a cost efficient and an effective mode of promoting products and services directly to a steady, global online consumer groups and the outcome is also quite satisfying as tracking of the advertisements and performance are highly transparent and scalable, pursued by self-service tools which are extremely easy to use.
However, taking yet another step forward, Facebook has recently launched its e-commerce services under the banner, Facebook Shops just recently. Under the latest development, Facebook and Instagram would be offering spaces for online stores, favoring small and medium businesses.
The next level is likely to enable sale of various products by SMBs on a plethora of platforms encompassing WhatsApp, Messenger, Instagram Direct. The development is a highly innovative one and ushers new growth opportunities to SMBs besides positioning Facebook beyond just social networking media, rather refurbishing itself as a rife solution for entrepreneurial challenges.
As part of this latest development, businesses who have a Facebook page can henceforth directly maneuver their pages into online selling platforms, thereby directly reaching out to their already existing potential customers who are comprise their followers.
The development is anticipated to directly challenge existing online selling veterans such as Amazon, thus bolstering competition. Additionally, the social networking platform, eying sturdy footing in online shopping has also collaborated with Shopify to expand their capabilities such as inventory management and shipping, a requisite for online shopping businesses.
The development is crucial in promoting and supporting the cause of local products as several countries across the globe are gradually promoting locally grown products to support respective economies.