With 3 million businesses advertising on Facebook – up from 2.5 million in September 2015 – Facebook has added a new tool to help businesses promote themselves better.
The tool, Your Business Story, allows businesses to upload music and photos and tell their story.
In its Facebook for Business post, the social media network says that 70 per cent of the three million businesses advertisers are outside the United States.
Southeast Asia is the fastest-growing region.
Facebook says the top five countries in terms of year-over-year growth are the U.S., Brazil, the U.K., Italy and Australia.
“Each of these businesses has a unique story and mission. Whether it’s fashion or fitness, confidence or creativity, each business offers something to its customers and communities that no one else does,’’ Facebook says.
Significantly, 80 per cent of the businesses advertising on Facebook are SMEs which means they don’t have big advertising budgets. Doing it on Facebook is more cost effective.
The top three verticals building Facebook pages are services, local commerce and e-commerce.