Now, with $7, Facebook gives you the option to promote your posts on the social networking news feed. Introducing the feature in about 20 countries last week, the networking giant aims to help people spread the posts, which they think are worth sharing for a longer period of time and more efficiently. These may include charity events, garage sales, parties, any significant announcement or an important life event etc. Only available to users who have less than 5000 friends (or subscribers), this is rather different from business promotion.. Also, along with the avocation of the event, Facebook will also assist the user in analyzing the status of their post- how many people viewed the post etc. As soon as the user publishes a post and marks it for promotion, it will be ranked higher in the news feed.
Typically, unprompted posts are only seen by a small fraction of your friends, 12-16%. Sponsoring a post will significantly improve its views. The company is also currently testing for price points in US and other economies, so the price could go up or down, to be revealed soon.
The feature has been undertaken by Facebook to improve its revenue growth amidst losing market shares by promoting individual sharing. The growing speculations about the company and its ever falling shares since the IPO release in May has sparked many rumors among investors who are doubting the company’s profitability in the constantly changing online world. To shut the mouths, Facebook has launched many new initiatives and services, particularly to help its advertising growth in the mobile and smartphone market.
Similar to this, the networking giant already boasts of “Sponsored Stories” where Larger businesses can invest to make their posts appear prominently or advertisers can pay to have their ads show up more frequently under a certain keywords.
However, this new initiative has not yet gained enough points with the critics who are of the opinion that why would an average user indulge in paid promotion unless its about advertisement of a large business or event. Not only the critics, users all over the world are also not much impressed with the new service. The Facebook’s presently implemented algorithms are efficient enough to push the worthy content forward, as stated by a social media marketing firm.
Now, what becomes of this $7 scheme remains to be watched out for but as witnessed, Facebook should better concentrate its attention to larger sources of revenue i.e business advertising which has been helpful in bringing cash into the company and improve ways associated with it.