Facebook is a social utility that connects people with friends and others who work, study and live around them.  People use facebook to keep up to date with friends.  Facebook is the largest social network.  From a business perspective it can give your marketing enormous reach, especially if you integrate it with your other marketing tactics and tools.

Build rapport with your customers

Give customers a place to post reviews of your products and services, including comments and yes even complaints. 
Most companies view complaints in the wrong light.  A complaint is the company's chance to fix a problem, that if you didn't know about it, the company would have no chance to fix it. 
If you build the rapport you build brand loyalty.  Facebook is also a great way to create word of mouth (or word of mouse) by your customers encouraging their friends to "like" your company page.

Keep Facebook fresh

View Facebook as the face of your business.  Share news, offer promotions and thank customers for their feedback.  Add new photos to your facebook page, remember like your customers look for new photos of their friends.  you want your business page to be considered a friend by your customers and potential customers.

It is important to engage your fans

Getting "likes" and fans is how you build connections on facebook.
If you have a special event happening, send a message to your fans.
Need feedback on a new product?  Create a survey using facebook.  (there are applications on facebook for such things)
The more you connect with your fans, the more likely their friends are to see your page and become fans themselves.
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