There is no doubt that over the last 5+ months, small businesses have been working harder than ever to make ends meet in the wake of the COVID-19 pandemic.
Facebook’s new Paid Online Events program offers businesses a creative new way to earn income providing services and events online, as well as connecting with consumers in a meaningful way. Facebook also announced that they would not collect any fees from the Paid Online Events program.
What makes Facebook’s offer unique is that all of the promotion, payments, and hosting is done through Facebook itself, which means that if a local business wants to monetize an event via Facebook, they can target Facebook users with advertising that are local to them. Businesses can also take advantage of word of mouth by announcing the event to all of the followers of their page.
People can then pay for the event via Facebook and watch it online.
Types of businesses that can benefit from this tool include:
- Exercise Classes
- Training Events
- Music Events
- Hobby Classes
- Various Educational Classes or Seminars
- Networking Events or Meet & Greets
- Etc.
Facebook stated: “With social distancing mandates still in place, many businesses and creators are bringing their events and services online to connect with existing customers and reach new ones.
People are also relying on live video and interactive experiences more when they can’t come together physically. In June, we saw live broadcasts from Pages double compared to the same time last year, largely attributed to broadcasts since March.”
For more information, you can read Facebook’s full statement regarding Paid Online Events here. Have questions? Reach out to us to see if Facebook’s Paid Online Events could be beneficial for you and your small business!