(Business Blog Post Published 2012)
Let's face facts, Facebook with its enormous and controversial IPO is now a public company. Now that the shareholders and board are in charge, they are going to be working to monetize Facebook like never before. That includes their brand new requirement of purchasing additional "reach" for your business page on Facebook if you want your post or update to get to more than 10 or 15% of the newsfeeds of people who already liked the page. Now I applaud Facebook for trying to be more profitable and find creative new ways to monetize their site, but I have a lot of beef with this method and how they've gone about it.
First of all, hundreds of thousands of entrepreneurs, personalities, and companies have invested ENORMOUS time, money, advertising, and resources into their Facebook pages to get quality content distributed to a significant audience of people who "liked" their page. People have paid a lot of money to advertise their page, to get more likes, to create engaging content, interact with clients and prospects, and build a community. Now their reach, including my own (at least on my business page), has been neutered big time unless they want to shell out big money. And that brings me to my next point, the cost of purchasing additional "reach" is astronomical! It costs $5-15 just to bring your reach from about 10% default to maybe 50%, not even the 100% it was before for free. That's just for one update / post! Most of these people and companies post at least 2-3 things per day, imagine if they decided to pay additional fees for each post everyday. That would bring the cost of their Facebook usage to $600 a month! Damn. No thanks. Absolutely not. I will never pay for this feature, sorry Facebook but I'm FRUGAL.
So overall, is this an act of desperation for a controversially enormous IPO followed by plummeting stocks and scandal? Or is this a slippery slope of things to come in social media with high prices being the norm to reach the audiences you've worked so hard to create? Only time will tell. Glad I didn't delete my personal Facebook page or groups! :)
Owner & Marketing Consultant
Extremely Epic Entrepreneur
Frugal Business Internet Marketing
Mike Schiemer Builds Better Business