The Risks Of Building Your Business On Facebook | Using Facebook for business and other social networks to share and market your business is a good thing. However, using Facebook exclusively is a bad idea, and here’s why.
Read the article excerpt below from Business Insider, written by Katie Canales in February 2022.
Startup founder says he lost his company and $100 million by relying on Facebook: ‘Sends chills down my spine to watch others build businesses on Instagram and TikTok.
Joe Spieser launched LittleThings.com in 2014 as a women-focused digital media site devoted to uplifting content, like animal videos, recipes, and other feel-good stories.
Things were booming before an algorithm change, with 20 million social media followers mostly built from Facebook’s massive userbase, he tweeted. Speiser said Facebook even used LittleThings as an example of building a successful media company at one of its annual conferences.
But traffic to the company’s pages was throttled when Facebook changed its algorithm to promote posts that it thought people would engage with the most, like posts from friends and family, in a move it hoped would keep users on the platform longer. However, it also began to promote violent, false, and divisive content.
Speiser tweeted that CEO Mark Zuckerberg “didn’t like the fluffy content we were producing, and he wanted to be taken more seriously. “
Speiser said his then-flourishing site lost 90% of organic traffic on Facebook. The readership loss forced Speiser to let go of more than 100 staff members, and the former CEO said he lost $100 million.
“It was a death sentence,” he said.
The now-angel investor warned other startup founders that although building businesses on apps like Amazon, TikTok, Google, Spotify, and Instagram can get you millions of eyeballs and fast growth, “can you ever truly sleep well at night knowing at any time it can all be taken away with just a simple algorithm change?“
Read the entire article here.
THREE MORE IMPORTANT REASONS NOT TO EXCLUSIVELY USE FACEBOOK FOR BUSINESS
1. You Weaken Your Website’s Power
By conducting most of your business on Facebook, you weaken your website’s power. Spending all your time posting on Facebook instead of your website, you pass along time and traffic to Facebook. Facebook will grow while your site traffic shrinks. For example, Google assigns higher ranking sites having more visits and traffic. In other words, holidays and traffic account for higher search engine results for websites.
2. You Do Not Own Your Facebook Page.
You do not and cannot exclusively own your Facebook page. Instead, you are simply leasing free space on Facebook servers. Therefore do not be surprised if all the time spent building your FB page suddenly disappears. Facebook does allow you to download all the content you posted, such as text, links, and photos. However, if you upload all this information to another website, you will have no Facebook styling or functionalities.
3. You Have Little or No Control Over Defamatory Material.
4. You have little or no control over defamatory material unless it amounts to hate speech. Most FB pages are open for posting and sharing. Otherwise, people will not take the time to join your page. However, what happens if someone posts defamatory or damaging information? Will you be able to call someone on Facebook? If you do not exclusively control your online presence, you are opening a massive can of worms.
If you post on social media, always post to your website first!
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