From connecting to your customers to defining your brand identity, Facebook is one of the best marketing tools you can use to promote your small business on a budget. The key to getting the most out of social media marketing through Facebook is going beyond setting up your business page and adding occasional updates to your newsfeed. Read on to learn about four lesser-known ways to start using your Facebook account to increase revenue and generate new business.

4. Start Networking with Other Businesses and Potential Clients

Facebook’s user-friendly interface makes it easy to connect with a large circle of people who can help you market your business better in the long run. Remember that Facebook has an unlimited potential for brand exposure, but you do have to use it on a regular basis to get great results. The more people you connect to, the simpler it will be to cross-promote your brand and get more people interested in what your business offers.

3. Set Up Facebook Ads

The unique advantage to advertising on Facebook is that you can be in complete control over your ad from start to finish. Facebook gives business owners the opportunity to create their ideal marketing format and promote their ads to the right target audience. Traditional online ads, specific posts, event listings and individual pages are just some examples of what you can promote with Facebook’s sophisticated advertising platform. When you are ready to launch your new ad, you can then customize your target audience by defining its age range, gender and location.

2. Go Viral with Online Contests

Hosting a contest on Facebook is as easy as making a post advertising a giveaway in exchange for content sharing. Asking people to repost your status, like your business page or share your photos with their friends can help you promote your brand to a whole new audience. Since sharing online is simple, your prizes do not necessarily need to be big to get people interested in participating. Any type of special offer can work including free giveaways, discounts and coupons.

1. Analyze Performance with Ads Manager

One of the biggest benefits to social media marketing is being able to track your progress. Because you have complete control over your ads and access to statistical data, evaluating your results is easy. In fact, Facebook has one of the best systems for managing your social media campaign. Using the site’s ads manager, you can access a variety of information and resources including your entire Facebook marketing history, in-depth performance statistics, reports on demographics and response graphs.