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Facebook joining the ranks of small business week

The upcoming week is the annual small business week, in which entrepreneurs go to “information

sessions” on topics like marketing online and our current health-care laws. It is an opportunity for large

corporations and politicians to voice their appreciation for the small time mom and pop stores. The

outcome is an unwieldy mixture—there is no problem in spending a week focusing solely on the small

business, but the time is also rife with sponsors of a political and corporate nature with intentions of

solely promoting themselves.

Facebook can now be regarded as one of the many suitors of Main Street. The social media

juggernaut stated that it will be hosting a series of “boot camp-style events” intended for owners of

small businesses. The purpose is to bring experts in small business together with local entrepreneurs

in a discussion of using Facebook as a marketing technique. Samplings of the big companies to be

represented are: Intuit, Square, and LegalZoom as well as companies looking to sell their services to

small businesses. The program, christened Facebook Fit, will be traveling to the cities of New York,

Miami, Chicago, Austin, and Menlo Park, California.

The meetings are planned for June through August and do not actually overlap with the National

Small Business Week, but the two events are akin to each other. While business owners acquire

training, Facebook earns a bit of good will as well as prospective consumers. An estimated 25 million

small business owners operate their own Facebook pages, says Dan Levy, director of small business

at the corporation. Even those business moguls, that are exasperated with the various changes in

how Facebook treats postings, tend to also see it as a good means of reaching patrons. According to

Levy, an estimated one million pay for ads each month. To heighten those numbers, Facebook is now

charging $25 for its boot camp sessions as well as rebating the amount of $50 in credit for Facebook

advertisements. There is only so much space for business owners in each session, so the program is

limiting those who get to upgrade their pages to ones with paying advertisers. The program is a stepping

stone in showing Main Street America that a large corporation like Facebook, cares.

Big Companies Cut Back on Everything, Except Advertising

Statistics for big companies throughout 2013 indicated that businesses, in general, limited spending due to money strains. However, one item larger corporations chose not to slack on was their funding for advertisements.  An sought to explain this choice.

After the economic breakdown of 2008, companies, both big and small, have struggled to regain the trust of the consumers.  Frequently, ads are their chosen method of doing so; it is by far the easiest means of communication between the company and the buyer.  However, the article did note that a statement by Corebrands founder and Chairman Jim Gregory indicated that there is still a long journey ahead in terms of regaining trust.  While consumers are slowly beginning to spend money and put their faith back in the economy, businesses cannot rely solely on marketing to get the word out on their successes.  According to the article, reaching out with employment needs indicates a healthy business with booming profit.  In essence, if the company has spare money to hire further employees, consumers will interpret this as a solid indicator that things are going well.

Money must also be invested in the company to keep things stable.  Generally speaking, companies have found investing in advertising far cheaper and more productive than engaging in research and development.  However, this puts a lot of pressure on the ads being issued; they must hold a strong emotional component to hook customers on products that may not have undergone much development.

Technology is a likely avenue for reinvestment as well.  Technological sources can provide some of the development at a cheaper cost than more traditional research and development paths.  It can also provide statistics that allow the company to supply the perfect amount of product to meet the current level of demand; therefore, no money is wasted by over supplying or failing to produce products that could’ve been sold.  Finally, technology can also be a cheap means of advertising, if marketing methods are applied affectively and appropriately.

Yahoo Fires Facebook and Google and Welcome Vizify

Recently, Yahoo has been trying to regain their internet prominence. Although they haven’t always succeeded, they keep trying. They have been experimenting with mobile advertising and creating native ads. Today they took another step in the right direction, and they might have to pay a big price for it if this bet doesn’t pay off.  They removed Google and Facebook login options from their sites.

Yahoo will require their users to create and use a Yahoo User ID for their services, like fantasy sports and flickr. According to a recent study,   and at least half  of them use them to gain access to at least one site or more.  Facebook is the most prominent one of the bunch.

Yahoo purchased the social visualization company Vizify.  They are now shutting down the site, or as they call it, sunsetting.  We will see what happens with that.