According a study conducted through Deloitte LLP, Facebook has generated an estimated $227 billion dollars in economic value. The study revealed Facebook has not only created 4.5 million jobs, but enabled organizations to reach customers more efficiently by reducing barriers to marketing.
Facebook’s COO Sheryl Sandberg stated, “We take our responsibility to be good corporate citizens really seriously and the study was conducted due to a genuine desire by us to understand the economic impact we’re having.” The findings underline how third parties benefit from Facebook’s overall marketing activities.
The Deloitte study highlighted three main effects that Facebook has on the world economy:
- An effective marketing tool for businesses and organizations regardless of size.
- A platform for app development and consumer engagement
- A connectivity facilitator.
While Facebook claims an estimated impact of $227 billion worldwide, the company acknowledges this impact is spread across the Facebook ecosystem and not limited to the company itself. Facebook marketing opportunities account for an estimated $148 billion of the $227 billion noted as the economic impact. The study also revealed that $100 billion of the estimated economic impact was felt in the United States.
It is clear that Facebook’s impact on the world and on local businesses is here to stay. Effectively using Facebook as part of your marketing strategy can help you to gain consumer attention and increase sales. If your brand is interested in pursuing online and social media marketing, call Qiigo today at (404) 496-6841.