Visa Uses Facebook Network to Reach Small Businesses

The following post is a summary of the article with permission from the author, Kate Maddox.

In an attempt to raise awareness of the brand and connect with small business owners, Visa, Inc. created the Visa Business Network(VBN) on the social networking site, Facebook. As Visa’s first venture into social networking for B-to-B marketing efforts, their objective is to help small-business owners succeed and the VBN allows businesses to get advice from peers and experts on all aspects of business ownership.

Facebook has more than 100,000 members that are small-business owners with over 20,000 new additions each month. “Understanding the power of networking… we wanted to facilitate networking in an online environment,” and instead of spending a significant amount to attract an audience to a new site, Alex Craddock, head of small-business marketing at Visa, Inc., said they decided to join the network because “we wanted to go where small businesses [were] already going.”

In efforts to promote the Visa Business Network on Facebook, Visa used traditional advertising methods, placement in blogging communities, and also advertised on the networking site itself. Since the launch in June, Visa has already exceeded its initial goal of attracting 20,000 members its first year and has doubled the average industry repeat visit rate of 25%.

Kate Maddox is a Senior Editor for B-to-B Magazine
To read the full article please visit B-to-B Magazine Online.

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