Malaysia SMB Business Development Lead for Facebook, Ai Ting Eeo, gives reasons why FB is a powerful marketing tool for SMEs.
Eeo recently gave a presentation at SME BizFest 2017 in Kuala Lumpur.— Pic courtesy of TM SME BizFest Facebook Page
Anyone can start small, and small can go big. That’s the motto submitted by Malaysia SMB Business Development Lead for Facebook (FB), Ai Ting Eeo.
For the uninitiated, SMB is the abbreviation for small and medium businesses with a certain number of employees.
The abbreviation SME (small and medium-sized enterprise) is also used interchangeably to mean the same thing, used in the European Union and by international organizations such as the World Bank, the United Nations and the World Trade Organization.
Developing SMEs is central to achieving sustainable economic growth as it plays an important role in the country’s overall production network.
According to one-stop SME portal SMEinfo, some advanced economies have succeeded because SMEs form a fundamental part of the economy, comprising over 98% of total establishments and contributing to over 65% of employment as well as more than 50% of the gross domestic product.
Marketing is made easier with Facebook, if you know how.— Pic by Shutterstock
Although the numbers might be lower in Malaysia, SMEs have the potential to contribute substantially to the economy and can provide a strong foundation for the growth of new industries as well as strengthening existing ones.
Eeo explained about how FB for Business can benefit business owners. Knowing where people are, knowing how to reach them, and knowing the right tools to use are among the insights that can be obtained through FB.
16 million local business Pages have been created as of May 2013 which is a 100% increase from 8 million in June 2012.
“We’re in the new commerce era. We need to go digital. For example, seven in 10 people own a mobile, and at least three hours a day are spent on smartphones. A total of 19 million Malaysians access FB monthly on mobile. In addition to that, 1.3 billion people use mobile phones in the Asia-Pacific region and the mobile phone is the new shopping ground for many.”
69% of Malaysian Internet users use their smartphones to research products and services. And one in two of these ‘researchers’ subsequently buy the products online.
“FB is a prime driver for online shopping activities. Three out of five Malaysians buy a product after discovering it on FB. In short, mobile has changed commerce,” elaborated Eeo.
Online shopping is a trend as more people have mobile access and social networking helps with marketing.— Pic from Shutterstock
SMBs would naturally want to garner more customers and reach out to them.
With FB for Business, businesspeople can create tailored ads, boost their online presence, build multi-platform connections to widen their audience span and even make video ads.
Determining the target audience is the main thing that a business must consider.
“Based on location, interests, behaviours and demographics, people will react differently to an ad. So, businesses must know their advertising objective. There are many tools on FB to help business owners with their venture. However, they must use the right tools,” she said.
“Reaching people across devices is difficult. It is becoming increasingly so, looking at the number and scale of people on social media. But we do know that a lot of people share many personal moments. As such, FB is a good place to reach people personally,” added Eeo.