Social networking site Facebook recently revealed that over more than 1.2 billion people from around the world on the platform are connected to a small business in another country, while out of which over 250 million people are connected to a business in India.
It also informed that 42 per cent of people on Facebook in India are connected to at least one SMB (small and medium business) in a foreign country and 65 per cent of people on Facebook in India are connected to at least one SMB in India.
The social networking had introduced a cross-border solutions last year to provide a bridge for businesses to the new global, mobile economy. Using these tools, businesses can reach customers in new countries who are similar to their existing ones.
Now, it has introduced more solutions to help businesses get a global reach.
"As more people around the world come online, businesses have an opportunity to connect with new customers, many of whom live in different cities, regions or countries. Today, we're introducing four new cross border solutions to make it easier for all business to grow, around the corner or around the world," the company said in a blog post.
The new features introduced are dynamic language optimization, multi-country lookalike audiences, multi-city targeting and Facebook IQ cross-border insights finder.
While dynamic language optimization helps businesses include multiple languages in one campaign, and Facebook will match the right language to the right person, at the right time, the company informed; with multi-country lookalike audiences they can find their next best customers in any combination of countries or regions.
With multi-city targeting, businesses can target all cities above a certain population size without having to do research or add the cities individually and Facebook IQ cross-border insights finder helps advertisers discover untapped markets for their business by providing comparative country data based on past campaign performance across Facebook, Instagram and Audience Network, the social media company said.
Earlier in the month, Twitter too had rolled out a subscription ad service for small businesses that charges $99 a month to automatically promote tweets to bigger audience network.
The introduction of new tools and products specially tailored for small businesses by social media channels is being seen as an attempt to attract more SMBs to their platform, which often have limited resources and hence hesitate in spending much on social media advertising.
According to Facebook, while more than 70 million small businesses use its service, only 6 million of them advertise on the platform.