How to Build a Killer Facebook Page for Your Retail CompanyIn lieu of a stand alone website, a Facebook page may work for your business. But only if it's done right.

It used to be that if you wanted to take your business online, you bought a domain name, hired a developer and then--after much testing and many iterations--launched a website. That no longer needs to be the case. Increasingly, entrepreneurs are turning to social media platforms--in particular, Facebook--as an easy, quick and inexpensive way to launch an online presence. Since there's no geek gene required, a business can create a functional Facebook page with little or no web-development cost.

So do you really need a stand-alone website? Or will a page on Facebook--with its 1.19 billion monthly active users, ease of social selling and targeted marketing tools that allow you to build momentum and community--suffice?

Ordinarily, I would argue against building your business on "rented land" (that is, a platform that you don't own and control). But I'm starting to rethink that position.