Golley Engage looks at the so-called “app economy”, and how you can make your budgets work harder.
Facebook estimates that its activities benefit the UK economy by more than £2bn a year, almost £500m of which it puts down to the creation of an entire business infrastructure that has emerged as a result developments to the world’s most popular social networking site. Golley Engage looks at the so-called “app economy”, and how you can make your budgets work harder.
A study commissioned by Deloitte, found that Facebook activity supports 35,200 UK jobs and fuels £2.2bn in revenue. This figure includes the direct economic impact of Facebook – such as paying tax, profits and wages – as well as the broader impact it has had in enabling businesses to reach customers, make sales, create and monetise apps and even boost demand for products such as broadband and smartphones. So how can creating apps help to boost your business and what should you watch out for?
Use feedback to build relationships. Using Facebook poll applications and tracking software can help you understand more about how consumers interact with your products. By giving consumers a voice, you are more likely to reap the benefits of a ‘social’ experience.
Geolocate your business. Survey results indicate about four in 10 (39%) smartphone operators use one or more location-based apps. Add your location & display it on your fan page using Google maps. You can show your address, office location, event location etc.
Drive traffic to your site. If used in the right way, and thanks to iFrame implemented through Page tabs, Facebook can act as a prompt for driving traffic to your website.
Word of mouth³. The new Facebook Timeline has given birth to a whole gaggle of new apps. Now, once you’ve given consent to a frictionless app to share stories on your wall, the app will be able to do so whenever you use it afterward, without having to notify you. So as soon as you look up a recipe on Foodily, listen to a song on Spotify or buy tickets on Ticketmaster, Facebook will share this endorsement with your community.
Commerce. Applications such as Facebook Marketplace have made social commerce a real possibility. Many analysts believe that online shopping through social networks is the next logical step forward.
Frictionless sharing could present a risk for small businesses. While it may be too early to accurately assess any additional risks these apps may present, it may be a good idea to inform IT specialists, risk managers and HR managers. It is more important than ever that employees are equipped with best practise guidelines.
Lindsey Reaney
Account Manager, Golley Engage
January 26th, 2012
