Facebook Marketing

Facebook is the largest social media network in the world, with more than one billion users, with over fifty percent logging on every day. Facebook can be great to help marketing your product or business and has many different ways to do so. A few of them being pages, adds, and groups.

 You can create a page for your business for free. Everyone that “likes” the page can get updates when something is posted on the page. You can post about new products, updates, giveaways, ect.  This is the most common way for businesses to advertise on facebook. 

The next way is through adds, you can create an add that will show up to your targeted market. From there they can go to your page and see what you have and like your page. This way is great to get your business out there to people who would buy it, but you do have to pay for adds. 

 The last way is through a group, which are like a discussion board. If you create one for your business or product, people can talk about them in the group and ask questions. A few downsides of this is a person would have to become a member of the group to comment or post in it. And a group might take more work to keep up than an add or page would. 

Can the time of year impact sales?

Since it is about time to start thinking about Christmas I got to thinking about products that are released just before Christmas and how this time of year can impact sales.
When I looked up the most popular kids toy of 2016, I found Hatchimals by Spinmaster. Spinmaster has done a great job with timing on this product. They has a great marketing plan and only released small information about the toy while making customers very curious to what it was before it came out. When it was released on October 7th and was immediately sold out everywhere, most buying it as a Christmas gift. It was a smart move by spinmaster with the unique marketing and time of year for the release that makes this the most popular toy of 2016. While it is sold out in every store, the demand is only rising for the toy.  Spinmaster has said that it will not be releasing or restocking any until 2017. With that, it is making the prices rise for the toy. While in stores it was retailed for around $50, now they are currently selling for over $150 on places like Ebay. This just shows what great marketing and releasing in a certain time of year can do for your products.

Idea Tracking

Where do you put your ideas for your business? I have found the best way for me to keep track of my ideas is to put them in my phone. Whether it is a new products I want to carry or a new place I can advertise, I put them in my phone until I have time to do research on the ideas. This way is best for me because I wouldn't remember the five or so ideas I had that day. I keeps me more organized too, I have a list on my phone for each type of idea, what products I would like to carry, what I need to place in my next order, places I can sell, and other ways I can advertise.