Facebook set itself up as a social media platform, that was only interested in connecting people to each other.
Do you remember when Mark Zuckerberg used to say that all he wanted was to create the best social network?
Yeah, well that’s great until your shareholders start deciding they want their money back.
Which is pretty much what happened to Facebook.
Their shareholders only let them go so long without making any money, and then decided they wanted a return from their investment.
And I say fair enough. I would too.
But then Facebook had a problem. They had absolutely zero monetisation strategies in place.
So suddenly, Facebook Ads appeared! It wasn’t long until the majority of content showing up in your posts was advertising. Gone were the days of being able to put your content into peoples news feeds by use sharing alone. Now you have to use a combination of sharing and paid advertising.
It worked out pretty well for them. But they’re backed by multi-billion dollar corporations. For those of us that aren’t, this teaches us one thing…
Don’t start a business without a monetisation plan in place.
And the monetisation plan I prefer is in my new book and newsletter, which will be launching shortly 🙂
What do you think?