by the Gozooko Guys
(Bryan and Karl)
Yes, another article on Facebook, but we aren’t talking about the stock price value. We want to know what the value of Facebook to your business is, what are you getting out of updating your Facebook page and engaging with customers on Facebook (if you are). There is no doubt that there is some value in being on Facebook, but the question is how much time should you invest in it? You can only answer that question if you know how much sales revenue it is driving in your business. Unless you are a business such as Zynga, which makes money from selling games on Facebook, you probably aren’t getting direct revenue. A recent survey from eVOC insights showed that for those who have “liked” a brand on Facebook, 47% said it had no influence purchasing and 41% said they were somewhat more likely to purchase, and 13% said they were much more likely to purchase, (yes, that is 101%, but that is because they rounded the numbers). So with these numbers in hand we started asking businesses we know who use Facebook what they have been getting out it. These businesses each generate respective revenue, they simply could not tie any of the likes or comments directly to a customer they did not have before being “liked” or commented on Facebook. Our impromptu survey was not scientific, but nonetheless interesting. While some businesses may be getting revenue out of their Facebook page (and we would love to hear from those who are), you need to take a look at what your business investment spends on Facebook and see if it is worth what you are spending, (remember, your time is not free.) One thing we know for sure, all those investors who purchased Facebook stock are not getting what they expected from their investment. Make sure you are.
At Gozooko, the customer always comes first. Our lines of products are customer driven, and our goal is to meet your needs and to help your business grow. As always we welcome your comments and suggestions. We look forward to hearing from you.GozookoGuys@gozooko.com