Facebook - The Numbers will Amaze You!

Has Facebook changed your business? Chances are it has in some form. For example, have you received leads from Facebook? Have you received a referral from Facebook? What about a client from a company that deals with marketing? This would be an indirect lead from Facebook. As social media has grown so have the marketing companies and departments. Our marketing team here at Lance & Company has gone from one part time employee to three full time and one part timer. With the changing landscape of social media and Facebook in particular, marketing has changed… but how?

According to a new report, commissioned by Facebook and conducted by Deloitte, the social networking site had a global economic impact of $227 billion and indirectly created 4.5 million jobs in 2014.

The report entitled Facebook’s Global Economic Impact, analyzes how Facebook’s marketing, platform, and connectivity effects have facilitated both growth and jobs around the world. Facebook is credited with stimulating the economy by providing 1) tools for marketers; 2) a platform for app developers; and 3) demand for connectivity, meaning data usage and mobile devices.

This is truly the convergence of several different industries and technologies at play. It is amazing how far the Facebook arm reaches into our world. The study states it has given new marketing avenues to smaller competitors in particular industries. In real estate I can see this with the localization of the content on Realtors pages. It also states that Facebook allows for people to connect to develop new opportunities. I see this in Real Estate groups on Facebook. I cannot count how many times I have asked a question in a group and have had several responses from all over the country. Facebook groups are such a tool in both industries I am in, Real Estate and Social Media.

How has it effected your community? How have you seen it at work in your life?