In the novel Share This, there is a chapter about Facebook and its audiences. Facebook can reach so many people all around the world. Companies are also using Facebook to reach out to their fans. Companies are using fan pages and like pages to reach out to their fans. These improve the businesses revenue and customer service.
There is a quote in the chapter that is, "Facebook often cites the fact that for every Fan engaged, 120 friends of that Fan can be reached" (Page 63). I believe this is true. If there is a company's page that I am a fan of, I will tell my friends about them. Then that turns to where my friends will check out their page and maybe become a fan too.
With the fan and like pages, companies can also sell their products. Now that is pretty cool. I have seen that on Facebook. You see a product that you may really want, you click on it and then go to their website so you can fully buy the product.
Companies are also having live chats with their audiences and fans. This will help with customer service and also with how many likes their page can get. Facebook is becoming a great tool for many companies.
There are some downsides of negative with bad post or comments, but that just leads to better settings and make the company better themselves.