Facebook’s evolution from just being a social network to a multi-variant platform has been astounding, given that the company has been in existence for barely over a decade. The company’s innovation seems to have no bound. Little wonder why their user sign up is increasing by the day.
The company as it appears has refused to be complacent even as it spreads its services across every continent and more importantly, giving back to the society in form of donations, charities, infrastructure development amongst others. This time small and medium sized enterprises from Nigeria and Ghana seized opportunity of the company’s initiative — as part of its effort to support entrepreneurship in West Africa — at a Facebook-organised round table to discuss how Facebook can help small businesses reach exactly the right customers – for less money and with greater returns.
More than 50 million small businesses around the world actively use Facebook Pages because they’re free, easy to use, and they work well on mobile. More than 2.5 million SMEs worldwide actively invest their hard-earned dollars with Facebook every month, a number that’s doubled in the past two years.
54% of people on Facebook in Nigeria are connected to a small or medium business. But for Facebook, this is only the start of Facebook’s potential to help small and medium sized enterprises in West Africa to thrive.
According to Nunu Ntshingila, Head of Africa for Facebook “Africa is home to some of the world’s most vibrant and exciting small businesses, and these enterprises are the backbone of the economy. These smaller businesses drive economic growth and create jobs that lift people to prosperity. The number one reason they succeed or fail is their ability to attract customers. As more and more people turn to smartphones and the web to discover and connect with businesses, Facebook is the best platform for African SMEs to promote their brands.”
Businesses are advertising on Facebook because it drives business objectives and sales. It’s measurable, affordable, mobile and easy to do. With just one click from their page, most small businesses can easily get going for a few dollars a month with lightweight solutions that they do.
Right now, more than 52% of Facebook’s ad revenue comes from areas outside the U.S and Canada, and this drive would only further increase the statistics.