Here at iPay88, we want to spike your e-commerce business to new heights. In today’s fast-paced world, where more and more things become interconnected and accessible online, we prepared a series of blog posts that will discuss the power of the social media and how to gain from it. No surprises, Facebook has become a part of our lifestyles and it is astonishing how it shaped the developments of social media attitudes and habits in terms of social groups, business, political activism, human connections amongst many others.
If you do not have a Facebook Business account for your e-commerce – get it now! I cannot emphasise enough how important Facebook account for a business is. Many people agree – if you are not on Facebook, you do not exist. Today, people are used to finding information within a couple of clicks. Facebook comes in handy because your potential customers can access all information they need about you, including your operating hours, address, contact details, reviews and comments, your posts, and much more on Facebook. This is what you are going to be judged on. By not having or having a poorly managed Facebook page, you will create a more negative image about your business.
1. 18 million Malaysians are on Facebook
By percentage alone, Facebook reveals that 80% of all Malaysians who have access to the internet are also registered on Facebook. That brings the number to 18 million users — which is more than half of entire population of 30 million.
2. Malaysians discover new products on Facebook
Facebook is a great tool to advertise your production. Malaysians find out about most of the stuff on Facebook. Based on statistics published by Facebook, 94% of Malaysians discover products and brands on Facebook and 62% of them make a purchase after the discovery.
3. Get instant feedback
Facebook allows you to publish reviews and feedback from your customers. This will give a better understanding about your business and quality for prosperous future customers. You can also use the same reviews on your business website.
4. Much easier to engage with your customers
Facebook, first and foremost, is a social platform, which gives you a chance to interact with your customers. You can interact with them by replying to their comments, asking questions or surveying them. Moreover, if your followers see you being active, engaging and responsive, they will be much more inclined to do business with you than with a company having no Facebook presence or a poorly managed page.
5. Malaysians are Internet addicts
Malaysians spend 2.8 hours daily on social media. This is a lot of time! For instance, Malaysians beat Italians, Singaporeans, Canadians, Australians, Germans, etc. in terms of time spent on social media per day. Moreover, compared to the global average, Malaysians are twice as likely to like a page and theyalso have 60% more friends.
6. E-commerce is a leading interest in Malaysia
Based on Social Bakers report, e-Commerce is the leading interest amongst Malaysians on Facebook. Since people are overwhelmingly interested in e-Commerce, it should also mean that they are inclined to buy online, and it is what you are looking for! Do not forget to adjust your Facebook ad targeting accordingly.
Malaysians have adopted digital and innovation technology very rapidly. Recently, mobile penetration in Malaysia was 144%, with 65% of population owning smartphones. The figures surpass many countries within the region, as well as Europe. Given this, social media usage blossoms at the expense of rapid adaption of technology and access to the Internet.
8. Free marketing tools
More exposure means better brand awareness. By having presence on Facebook, you will increase your visibility online. Facebook is free, it only costs to run Facebook ads, but they are no obligation for a business. Often, a well-managed and engaging business page is enough to kick-off generating sales leads or gain more traffic to your website from Facebook.
9. Facebook is the best tool to connect with industry leaders
Big corporations spend tons of money on their social media presence, thus following their activities on social platforms can give good insights into what strategies to attract new customers work and which do not. Moreover, if you are doing it right, social media can lead to real partnerships, which can unquestionably benefit your business. You can connect with not only the leaders or competitors within your industry; you should expand your search and look for cooperation with businesses running in other fields. For example, if you sell online, you can cooperate with iPay88 to collect payments from your customers, and then with some courier that would deliver your products.
10. Facebook interactions have a snowball effect
When someone likes your page, then Facebook places this action on many of the newsfeeds for person’s friends and family to see. Since many people are easily influenced by personal recommendations, the notifications can come in handy for you to get more views, engagements and possibly some more clients. Imagine though, what a person having 1000 Facebook friends can bring you to.
Do you need any more convincing?
Facebook may not be perfect, it undoubtedly has flaws, but its power has been growing exponentially and it is expected to grow further in the upcoming years. Facebook does not have any major competitors that could affect its momentum.
Thought to take with you: “At 1.86 billion, Facebook has more monthly active users than WhatsApp (500 million), Twitter (284 million) and Instagram (200 million)—combined.” Therefore, if your business is not on Facebook, it is a very high chance that your competitors are. The power of Facebook has been growing tremendously and it is expected to grow further in the upcoming years. Therefore, if your business is not accessible on Facebook, it should be.