Facebook Business and Marketing Solutions

I am now sitting in the session ,Facebook Business and Marketing Solutions, by Kent Schoen. The session starts out with the video by Rhettandlink.com.

How do you take advantage of the social graph?
Let your customers market for you.

Tools Facebook offers to drive engagement

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• Events: Facebook sends 66 million invites monthly compared to 16 million sent by Evite. Invite product not the best invite product in the world but utilizes the social graph.
• Pages: There are 150,000 pages and more than 85,000,000 fan connections. Hotels, brands and local businesses are creating pages on Facebook.
• Applications: e.g. Open Table and Fedex applications. There are more than 24,000 applications on Facebook. Some applications are created to bring rich content to users, others are using it to promote a product or service. There are 400,000 developers and over a billion installs.
  

If you put things out there that are useful to people, they will use them.

When someone adds an application, an item gets posted to news feed which helps in generating an automatic referral. There is a single digit percentage of your friends that are going to see an action you perform.

Facebook ads show up in either news feed or on left hand corner and allow marketers to accelerate activity by using precise targeting.

What is a social ad? Social actions combined with content. Example provided was of iThink application.

There are plenty of applications that primarily exist to drive traffic off of Facebook to their own site.

Is there a revenue driver for pages? People buy advertising to promotes pages. Also, the more exposure / traffic a page generates, the more possibilities to monetize exist.