Anyone who follows the IT press will know the Facebook sell off may not have went as well as investors expected. The initial share price slumped within minutes of its launch.
The simple reality is that no one actually knows how to make money from Facebook — well, lots of money. They may well have over 1 billion users but they are not making enough cash for their greedy investors.
Facebook is essentially a free service for everyone, however in order to make money they sell advertising. The problem is that well over 50% of daily users are now active on their mobiles — a difficult sector for advertisers to conquer.
Today something struck me as interesting, and I must admit it was triggered by a recent article elsewhere but I sadly can’t recall the location to cite it.
As a blogger I use Facebook, along with other social networks, to help promote the blog and engage with my readers. When I publish a post, such as this one, I also post a link to it via theOnlyCog Facebook page.
Recently I have been aware of less ‘reach’ — this is a term used in Facebook. I have access to reports which show how far my post has filtered around Facebook and what interaction it receives. This figure has noticeably slumped in recent weeks. Initially I simply assumed fewer people were interested, but then I realised it was clearly a result of the new Facebook ‘promote a page’ feature.
Facebook now offer a ‘Promote’ feature — this basically ensures your individual post is pushed to the top of the newsfeed of your followers on Facebook, and more importantly all your followers see it. Of course there is a costs involved in this.
Therefore, my blog posts (and your FB posts) are now randomly not features on your friends feeds.
Even thinking of my personal FB page as another example — I ‘like’ a local cafe and as part of this I get a daily post with their lunchtime specials. It occurred to me in the last few weeks that I do not see the posts every day, and now I know why!
Some of my friends have also commented that they never saw a post on FB from me. When discussing something I said, “yeah, I mentioned that on FB last night”. Their response is that they never saw it, even although others have clearly read it and even replied. Again, it is all making sense.
I appreciate Facebook is a business and we can’t expect everything for nothing but this has far-reaching implications.
Facebook cleary state… “Promoted posts are an easy way to reach more of the people who like your Page”.
It looks as if the ‘like’ button just got redefined, and now has a cost!