Facebook to pay Irish firms 50c for each 'like'
INTENSE pressure to make money is driving Facebook to launch a multimillion-euro campaign to get local businesses to advertise.
Facebook will pay SMEs to the tune of about 50c per 'like' in free ad credit, as part of a campaign to boost business advertisers.
Led by its director of user operations for Europe, Irishwoman Sonia Flynn, Facebook is also developing a special crack team dedicated to expanding its small business advertiser base across Europe. It is currently recruiting for this SMB Growth division.
After a turkey IPO, fears of 'Facebook fatigue' setting in among users, and recent Reuters data showing that the vast majority of the 900 million Facebook users never buy anything through its advertising, the heat is on for the social media colossus to generate ad revenue.
Backed by about €5m in spending, Facebook is rolling out this 'pay for likes' incentive in Ireland in September. It's already up and running in the US and Britain and is kicking off soon in Germany, France, Italy and Spain.
Local businesses that have 50 'likes' on their page at sign-up stage get €25 of ad credit to spend on Facebook advertising. Those that garner another 100 'likes' during the promo period get a further €75-worth of free ads.
There will also be workshops around the country where businesses can meet Facebook execs face-to-face and learn how to set up a business page, engage fans, and of course, advertise, likely to be organised through the country's chambers of commerce.
This Business Boost programme aims, Facebook says, "to help SMEs thrive", but a bigger preoccupation will be to help its desperately needed advertising income to thrive.
Last month General Motors pulled its Facebook advertising, and there have been mounting concerns about the social network's ability to build ad revenue, particularly among smartphone users.
Sunday Indo Business