Is Facebook good for business? Hell yes!

The common perception of Facebook is that it is a site strictly for personal use – and business networking is strictly for LinkedIn. This has slowly unravelled in the past year as Facebook is aggressively making moves to become the catch-all for everything on the web. There are roughly 500 million people on Facebook as it stands, making it the most popular social network out there.

In 2010, something interesting happened with Facebook, it surpassed Google as the most visited website in the U.S. People are on Facebook longer and more frequently than Google.  This shows a few things:

  • People are using Facebook as an information source
  • Users are connecting more for advice and feedback from their “friends” rather than a search engine
  • Facebook is becoming the new “catch-all” for people – a one-stop place to connect socially, through business networking, the marketplace, and as an information/opinion source
  • If you have a tight advertising budget, Facebook may be a better bet to engage a larger audience than Google

Is it good for both B2C and B2B marketing? Definitely. Both business types can reach their audiences through a group, fan page, and targeted ads. As long as the business is prepared to interact with 100% transparency with advocates, rivals and harsh critics – they can reach an incredibly vast audience.

And as always, this trend may change – everything on the web can change in 6 months, one week, a blink of an eye. As of now, Facebook is definitely a place to do business – but who knows what 2011 will bring. A new robust network from Google? Or even a new player who will change the game again.