Facebook Claims its App Drives SMEs’ Revenue

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  • Facebook Claims its App Drives SMEs’ Revenue

Digital platforms are increasingly becoming vital to the growth of Small and Medium Scale Enterprises (SMEs) in Nigeria.

Facebook, in its recent Economic Impact Study, discovered that using its platform to trade has enhanced significant growth in the revenues of SMEs across the country.

According to the study, 91 per cent of businesses surveyed outlined the increased demand for their company’s goods/services, not only in their home country, but further afield.

The study, conducted in partnership with Morning Consult Brand Intelligence, sampled over 1,000 SMEs across some sectors, including technology, services, manufacturing, retail and healthcare. Highlighting how communities like SMEs in Nigeria use the platform, and the effectiveness of social media as a growth tool, the results provided some interesting insights into usage and potential opportunities for local businesses.

Commenting on the research, SMB Sales Manager EMEA Abi Williams said: “With rising access to the internet across Nigeria and the low cost of smartphones, digital platforms such as Facebook’s family of apps have become incredible mechanisms to build communities and foster relationships. With more SMEs leveraging digital tools to communicate and engage with existing and potential customers, there has never been so many opportunities to maximise growth and connect with relevant customers locally and globally.”

Meanwhile, Facebook has announced the launch of Facebook Community Leadership Programme, a global initiative that invests in people building communities. The platform will commit millions of dollars to the programme, including up to $10 million in grants that will go directly to people creating and leading communities.

In addition, Facebook introduced new tools for group administration and the expansion of the company’s London-based engineering team, which builds technology to help keep people safe on Facebook.

Head of Groups and Community, Jennifer Dulski and Vice President, Product Partnerships Facebook, Ime Archibong, made the announcement at a forum tagged: Facebook Communities Summit Europe in London.

Community leaders often tell Facebook that with additional support they can have more impact. The Facebook community leadership programme is designed to empower leaders from around the world, who are building communities through the Facebook family of apps and services.

It includes: Residency and Fellowship opportunities, training, support and funding for community leaders from around the world.

Up to five leaders will be selected to be community leaders in residence and awarded up to $1,000,000 each to fund their proposals.

Up to 100 leaders will be selected for Facebook’s fellowship programme and will receive up to $50,000 each to be used for a specific community initiative.

Community leadership circles bring local community leaders together to connect, learn and collaborate. Facebook piloted three circles in the United States in 2017 and will be expanding globally this year.

Groups for Facebook Power Admins, which Facebook currently runs with more than 10,000 group admins in the US and the United Kingdom (UK), are expanding to more members to help them share advice with one another and connect with our team to test new features and share feedback.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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