We all know that Facebook is set to rule the world. With a lot of businesses already creating and populating their business pages on the world’s biggest social networking site, it’s only a matter of time before the SNS giant converts them into paying users.
Currently, there are about 1 million advertisers on the FB platform and that they have 25 million small businesses with active pages too. So far, that’s just a 4% conversion rate.
Mark Zuckerberg and the Facebook execs are setting their sights on the 96% and get them to try using the ad service. That’s an income potential of an additional $1.25 billion in ad revenue.
To us, this is good news. One of Big Ideas’ vision is to cater to a similar market, provide small businesses with a cost-efficient way to have an online, social media presence and take advantage of the tools and techniques to create more awareness for their brand, product or company.