The test run for Facebook Offers is now coming to an end. As announced by the social networking giant last Thursday, all Pages with over 400 fans can now send discounts and promotions through the website. However, Pages operated in Japan have to wait until next week to be eligible in the feature.
In addition, merchants are now required to pay at least $5 to run Offers on their Facebook Page. On the other hand, users can still claim their offers for free.
Why Your Business Needs Facebook Offers
A couple of months ago, Facebook worked with a selected number of local business Pages to test their Offers. Through this, business owners were able to offer discounts and other giveaways to their fans for free. This also enabled them to expand their reach on the social network with help of various ad products from the site.
When one of their fans claimed an Offer, it will appear on the user’s Newsfeed. As a result, merchants can also reach their fan’s friends organically.
In relation to this, a Facebook representative shared a case study that shows the success of Facebook Offers. Aria Resort and Casino in Las Vegas was able to book 1,500 room night reservations after running an Offer. The promo requires customers to make a two-night reservation on selected dates in exchange for a $110 resort credit plus VIP passes to their Haze nightclub.
The resort promoted their offer through Premium Page and Sponsored Stories ads, which target fans and friends of fans. Because of Facebook Offers, customers made 671 reservations for 1,585 room nights. In addition, Aria saw a nearly five-fold return on its investment.
How the Facebook Offers Program Works
To run an Offer, business owners will need to pay $5 on a related ad product to promote it to a targeted audience. They can also add bar codes or promotional numbers for their promos, so that their fans can track and claim it better on third-party sites.
Facebook Offers gives local businesses another way to promote their deals other than print ads, Foursquare Specials, Google Offers, Groupon, and many more. Aside from giving local business Pages the opportunity to expand their online presence on the network, it also provides a new revenue stream for Facebook.
Prior to this, the social network giant offered a similar product last August called Facebook Deals. This ad product is designed to encourage group-buying like LivingSocial or Groupon. However, Offers are more targeted on individual users.