While it may seem Facebook doesn’t need to look for new users, there are some markets that are important for them to continue to tap into, among them are the medium and small business niches. These groups continue to grow in their use of Facebook for marketing, and some businesses even run from the social media site entirely, at least in the beginning.
New Video Tool
As a result, Facebook as decided to invest in these groups by offering a new video tool called “Your Business Story.” It allows businesses to create a short introduction video with music that can be chosen from a music library, and a short text description of the business.
Video is Important
Facebook’s decision is not totally selfless, as the importance of video is continually rising. It is quickly becoming necessary for relevance in the web world, and Facebook has desired to compete with YouTube for some time. The goal is to get more videos loaded and more watched, and “Your Business Story” will likely help propel them toward that goal.
Facebook Businesses Growing
It is a smart thing for Facebook to invest in its small and medium business customers, as right now there are at least 50 million business profiles. In addition, the number of those businesses spending money on ads has increased 50% in a year. With an increase of tools and continued ease of use, that number will only grow.
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