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The Financial Benefits of Facebook

SavingAdvice — Are you a Facebook user?

If not, why not?

I would like to think that everyone already has some familiarity with Facebook. Nevertheless, for the three of four readers who have not yet encountered Facebook, it is a social networking site that enjoys more monthly visitors than any of its competitors. In essence, Facebook allows its users to create an on-line network of friends and colleagues who then have access to the content posted by everyone in their own network. As a medium for communication, I think it is the best communication tool available on the Internet and in many ways is more efficient than even having access to all of your contacts in one room.

But back to my initial question: if you are not on Facebook yet, why not? You are missing out on something big.

If you are on Facebook, are you maximizing your use of it as a tool to help you with your personal finances? Have you even thought of the ways that Facebook can help you to add to your net worth in ways big and small, or is Facebook nothing more than a gathering place for the classmates, colleagues and cougars you know? If you do not see the financial benefits of Facebook yet, you will over the coming year as Facebook increasingly will dominant the marketing focus of a great many companies, or so I believe. Here is where I see Facebook headed and, in some cases, where it has already been.

Marketing Promotions: Last month, Starbucks ran a Facebook-only promotion in which it gave away coupons for 800,000 pints of Starbucks ice cream. With 250 million or more active global users, Facebook offers marketing penetration that no other consumer site is likely to match and businesses are quickly realizing that. Over the course of the next year, look for a substantial increase in the number of on-line coupon promotions and giveaways that are limited to Facebook users. You will need to “become a fan” of the brands and products that you like to use in order to ensure that you are likely to receive word of such promotions but once you do, the opportunities should be many.

Facebook Only Discounts: A lot of businesses are capturing traffic for their brick and mortar stores by posting discount advertisements that are available only to Facebook users. A local pizzeria has been offering a series of BOGO deals that can only be obtained by telling the server that they want the Facebook promotion.

Employment Opportunities: A few days ago, Maggiano’s restaurant posted on Facebook that it is hiring a marketing intern for its Dallas office. With a potential audience of up to a quarter of a million users, Facebook offers tremendous potential as a recruiting tool so that businesses can reach out to users who already have an interest in the business or a specific industry.

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