Unknown lifesaver factors of the Facebook shop for your business
I have come across this really interesting article written by Mr. Sanjay Mehta on how FB has made the shopping experience for the customers flawless. The outbreak of the pandemic Covid-19 has left the business world in agony where they are just trying to survive each day.
In this article, he tried to bring some light on why certain businesses aren't operational, which industry is most affected, or what are their struggles. You can also find a brief explanation of what is a Facebook shop and how it is beneficial to SMBs today. The Facebook shop is a new online platform that has been introduced by Mr. Mark Zuckerberg, CEO of Facebook to help small businesses by opening up a new market place to sell their products.
According to the State of the Small Business Report, the data collected from 86,000 people working in various SMB across the US emphasize that they are struggling for their survival. The study says proves that 52% of small scale businesses are shutting down their functioning and out of which 55% of this business is led by women entrepreneurs.
There are very minimal cash flow and a lack of demand for their product in the market for SMBs. To overcome this ongoing crisis, businesses are switching to online platforms, where they would be able to conduct their sales digitally. Customers will be provided with digital payment options to make their purchases more convenient and quicker. Working from home makes it harder for the employees to give their 100 percent and it is difficult for them to find a balance between their professional and personal life.
Employees are struggling as their allowances and increments have been cut down, most importantly they are losing their job as the company can't afford to pay them with less business happening.
Facebooks shops can be used by any business to set up their single online store for the customers and it can be accessed on both Facebook and Instagram.
What are its benefits?
- The online store can be customized according to their preference of a particular business therefore they can bring out the look and feel of their shops virtually.
- Irrespective of their budget any business can connect with its customers on the Facebook shop. The stores are made available to the customers through Facebook business pages, Instagram profiles, and targeted ads.
- The customers can browse the complete collection, place an order of their favorite product either on the business’s website or in the app itself if digital payments are enabled.
- One of the interesting facts is that the business won’t have to pay for the personal classifieds in the Facebook marketplace therefore they can avoid unnecessary expenses on marketing.
- Customers can also clarify their doubts or seek any help by messaging the business through Whatsapp, messenger, or Instagram direct, and customers can also track their deliveries once the order is placed.
- The new features like tagging the products from the Facebook shop or catalog are also available, therefore, the product will appear at the bottom of the marketing videos so that it will be easier for the customers to purchase the product and this feature will soon be implemented in various demographics.
- There will be complete privacy of your activities on the Facebook shop and your information will not be shared on your profile or feed without your approval. The business will receive your contact information if you make a purchase through Facebook pay and this system is only available in the US as of now.
- While Facebook shops are free to create there will be small fees charged when the customers use Facebook checkout options for your business.