“We just passed an important milestone. For the first time ever, one billion people used Facebook in a single day.  On Monday, 1 in 7 people on Earth used Facebook to connect with their friends and family. 

A more open and connected world is a better world. It brings stronger relationships with those you love, a stronger economy with more opportunities, and a stronger society that reflects all of our values.

Thank you for being part of our community and for everything you’ve done to help us reach this milestone. I’m looking forward to seeing what we accomplish together.”  –Mark Zuckerberg

While many business owners are still unclear about how Facebook works – or whether they should be using it, Facebook announced that on Monday, August 24, 1 billion people had interacted with Facebook in some way – that’s one out of every seven people on earth.

Facebook’s stated purpose is to connect the world, and they seem to be doing a good job of that.  However, the bigger deal is their unprecedented ability to convince so many people to share so much information. This has given them probably the largest database in the world. And more and more, they are using this information to help themselves and other businesses succeed.

Adding a modest advertising budget gives a business access to the information that enables them to display ads with laser focus.  This goes beyond the ability to target people, based on demographics.

For example, did you know that you can have an ad that pops up in someone’s News Feed after they have visited your website? Similar to Google Display ads, these ads put you front and center, hopefully pushing them to “pull the trigger” and make a purchase, even if they weren’t quite ready when they visited your website. These ads are shown to anyone who visits your website – not just your fans.

Location-based ads are shown to anyone who looks at Facebook while they are in the vicinity of a business – whether or not they are fans.  This is especially valuable to retail stores and restaurants. Imagine someone shopping near your restaurant and seeing a very attractive ad, featuring your daily special?

The new feature that allows marketers to target “lookalike” audiences – people who share certain traits with existing customers – gives companies access to an even larger potential market.

When companies also begin to understand the power of Facebook marketing, and realize that Social Media Marketing has a 100% higher lead to close ratio than outbound marketing they may just start paying attention.

View Mark Zuckerberg’s commemorative video:

Featured Image Source:  FreeDigitalPhotos.net – “Social Network Concept” by Nutdanai Apikhomboonwaroot