How Facebook Internet marketing has enhanced economic development in East Africa
Although Facebook was initially created to be a social networking site, it has gone beyond the confines of chatting and sharing occurrences in an individual’s life with friends.
Facebook is presently being used as a virtual marketing site worldwide whereby individuals and businesses use it as a platform for marketing goods and services while reaching out to potential customers.
Similarly, Facebook is also used by corporations to conduct SWOT analyses of their products and services and essentially know the measures to adopt to enable them appeal to their customers and stay ahead of their competition.
Facebook marketing has picked up tremendously with companies and small businesses creating Facebook groups and fan pages where they post information regarding the products and services offered in a bid to increase sales and service provision. In addition, photographs of products together with their prices and payment options are also made available on Facebook so that individuals can make better choices about products or services.
Facebook Internet marketing and economic development in East Africa
With Facebook online marketing, corporations and small businesses have been able to increase their sales by reaching out to a wider customer base. In addition, payments for products and service are usually made via mobile money transfer upon product or service delivery. Thus, an increased customer base results in increased revenue for both business owners and governments, thus improved economic status of individuals and countries in East Africa.
Mobile money transfer is the usual payment option used in Facebook Internet marketing. This has thus resulted in the generation of higher taxation revenue for governments due to tax rates that are imposed on individuals and mobile service providers for any mobile transaction made. This has ultimately resulted in a higher Gross Domestic Product (GDP) and essentially higher economic growth and improved living standards.
Although Facebook Internet marketing has made a minimal contribution to economic growth in East Africa, the platform still has great potential since it is still in its initial stages.