The latest all-in-one application, the company said, will be free for at least one year.
Facebook aims to help SMEs overcome the COVID crisis – and make money.
The company revealed $100 M in cash grants and ad credits for SMBs a couple of months ago. Earlier, Facebook Shops were launched to support SMBs sell online. And today it launched a new program to monetize online classes and activities called, by the way, "paying online events."
Potentially mighty new web. Paid online events is basically a free commodity that enables "businesses, developers, educators, and media outlets" to set up paid events or classes online and retain 100 percent of the money themselves — except on iOS, where event organizers have to give up the 30 percent "App-Store fee," as Facebook calls it.
The bid is self-contained: all are compensated for the hosting, marketing, ticket sales and payment processing. Businesses, authors, designers and educators will be able to decide whether they are worthy here.
The event is created by advertisers, marketed to their organic followers or via Facebook advertising, and received payment through Facebook. (To obtain payment you need to connect a bank account.) Event creators would also need to comply with the company's partner monetisation policies and other specifications.
One additional advantage of using the product would allow marketers to build personalized audiences from event participants or class participants.
No one payments a year. Facebook claims it won't raise any future fees "for at least the next year." A cynic would say this is a way for the company to accelerate acceptance of the app until it has a big, established user base. Yet it is beneficial to the degree that it will potentially help generate sales for SMBs.
Speaking on a press call earlier today, members of the company made a huge deal about their offer to waive Apple's 30 per cent reduction in revenue from the App Store. Apple reportedly refused. That is where most of the press questions were based and so there wasn't the time to ask more detailed questions about the drug. I did follow up with Facebook in email though.
Facebook told me right now that there is no alignment with Facebook Shops. But soon, "brands and developers will be able to add items from their Facebook Shop or Catalog before they go live and those items will be displayed at the bottom of the video so users can quickly tap to learn more and buy. We 're beginning to check this with companies on Facebook and Instagram, and in the coming months we'll be rolling it out more widely.
Positive testimonials about SMB. The call included multiple SMBs that had been plateform beta-testing. We all gave upbeat-to-enthusiastic testimonials, one of which described it as a "game-changer."
Facebook says event organizers used the tool "to host expert lectures, quiz activities, radio interviews, boxing matches, cooking lessons, casual meet-and - greet parties, workout lessons and much more."
Facebook added that paying online activities in the US and 19 other nations, including Canada and Mexico, major European countries and parts of Asia, will be accessible instantly.
Why is it that we care? There is much to know about paying online activities, and more to consider. But it could be a strong new source of revenues and a distribution outlet for SMBs and many other marketers. This also fits into the wider video advertising and live-streaming strategies of Facebook.And it will also aid in the normalization of online activities and user groups.
Facebook views itself as a protector of small business rights. It is a case in point of "enlightened self interest."