Stature Software

Facebook Is Growing …. Businesses?

December 16th, 2009 by Erin Posted in Business | No Comments »

Facebook.

The very site people use to read mindless status updates, view photos, watch posted YouTube videos, and play FarmVille is now being called a potential business builder.

Neilsen, a company many television executives rely on for measuring market share, has entered the social network fray with a little product called Brand Lift.

As the Wall Street Journal first reported back in September, Brand Lift will measure the impact of ads on Facebook through polls that the site will show its users who have seen the ads.  Facebook will then compare the users’ responses to those of other people who didn’t see the ads and package the data for advertisers.

I have personally seen these polls, and while I never respond, they do pique my curiosity enough for me to take a look at the ad. I’ve never actually clicked on the link though.

Still, considering that people love taking polls, this could be a very solid way to measure whether or not ads on Facebook really perform.  The site itself has grown into a behemoth; +300 million active users with 50% of those users returning to the site everyday, sometimes several times a day.

So the million dollar question is … can Facebook fan pages help grow a business?

The answer from Facebook COO Sheryl Sandberg is a resounding yes.

“Brands have found significant success with Facebook fan pages, which are free to create. But adding paid advertisements through Facebook’s ‘Engagement Ads’ product can enhance those brand pages significantly,” Sandberg explained during an event at New York Advertising Week.

If you read between the lines, this means that Facebook will also get paid.

With Twitter grabbing the most attention from marketers these days,  Facebook could use the money – or so it says.

As for its potential to grow business, I’ll say this much.

As an avid Facebook user, I may eventually resent getting peppered with advertisements and polls. The site is intended to help people connect and socialize – and that’s how I want to use it.

I understand the drive to make money, but in my opinion Facebook may be walking a fine line.

The users will ultimately have the final say here. Peeved Facebookers tend to revolt.

 Tags: business growth, facebook advertising, facebook business

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