Facebook has more users now than ever before (over 3 billion monthly active users in 2023) and the numbers continue to rise. Statistics show that in 2022, Facebook reached 200 million businesses on the platform, 3 million businesses are actively advertising on Facebook, and 93% of marketers regularly use Facebook ads.
Especially for eCcommerce brands, Facebook ad can be a cost‑effective way to reach a large audience. By targeting specific consumers based on their behavior, eCommerce sellers can market their products effectively. To ensure the ads stand out against major competitors and achieve eCommerce marketing objectives, they need to use creative and engaging content along with a high-quality product to maintain positive word-of-mouth.
While developing a competitive strategy in Facebook ads, another challenge is a well-functioning financial tool to effectively manage the budget. E-commerce sellers usually run several ad campaigns at the same time to reach a wider audience, which means that they have to properly make the budget plan and prepare multiple credit cards to pay for the fees.
Considering such special demands for eCommerce brands, Qbit, a global cross-border payments platform, has designed a featured Employee Card.
Customized budget management
Marketing or operations managers can use Qbit's expense management system to issue pre-configured cards for approved and budgeted expenses to specific employees based on roles, needs and responsibilities. This helps to align spending with budget guidelines and prevent overspending.
Employees can set up different cards with daily, weekly or monthly limits for different Facebook campaign plans so they don't go over budget. And if something goes wrong with one card, the other cards are not affected.
Better expense tracking is also a big plus. Qbit Employee Card controls allow businesses to track spending in real time. When a purchase is made, the system automatically applies relevant policies, budget limits, approval routing rules, and business purposes and reconciles transactions immediately. With a clear view of spending, companies can better manage their advertising budget and allocate resources more effectively.
Faster reporting and analytics
For Facebook ads, spending analysis is also an essential part of optimizing the campaign strategy. Qbit's expense management system can accurately classify all transactions. Simply importing card statements into an expense report makes it easy to generate spend analysis reports. Transaction data pulled from the system can be easily analyzed using visual dashboards. A clear to provide actionable intelligence for financial decision-making.
According to Qbit, with their streamlined process, company can reduce the reimbursement cycle from an average of 20 days to just 7 days, and the finance team can experience a 30% reduction in time spent on expense management tasks. This allows teams to focus on more strategic financial activities.
Streamline business Expenses
In addition, Qbit Employee Card can be used for more business purposes. For example, when employees need to travel or entertain for business, they don't have to pay out of pocket. And employee cards provide greater visibility and spending control, reducing the chance employees overspend or commit fraud, even if accidentally. For subscription fees, such as ChatGPT, Midjourney and Pinterest, Qbit card offers a wider range of cards with greater stability and coverage to ensure smooth payments.
Running a Facebook ad campaign doesn't have to be mysterious or scary when you have the right tools under your belt. And, with tools like Qbit, e-commerce sellers can easily maximize their budgets to run ads on Facebook and across other social media platforms. A well-customized corporate card will always leave an impression in all the places it is used.
About Qbit
Qbit is a leading neobank providing global cash management services to businesses through digital finance. Our innovative core products include acquiring, global pay-in and pay-out, card, supply chain finance, and API solutions.
Leveraging cutting-edge technology, we digitize cross-border payment and banking infrastructure to power the future of customer experiences and financial services.
Qbit has raised $10 million in Series A from ZhenFund and served more than 15,000 brands and enterprises expanding internationally. We have also established localized service centers in 7 cities globally and developed strategic partnerships with top banks and financial institutions worldwide.
For more information about the Qbit Employee Card and to sign up, visit https://www.qbitnetwork.com/virtual-card or contact our team at bd@qbitnetwork.com
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Company Name: QBIT
Contact Person: Jade Bao
Email: Send Email
Country: United States
Website: https://www.qbitnetwork.com
