Discover the paid online events tool that’s helping small businesses thrive amidst the COVID crisis.
In our previous blog post, we discussed three ways to reward customer loyalty and build relationships this holiday season; two of which involved presenting customers with exclusive promo codes and special access to new products or services your business plans to offer.
Now, we’re going to take a look at a free tool that’s boosting small business revenue this holiday season. This all-inclusive tool comes by way of Facebook, with the goal of making it easier for small businesses everywhere to plan and host customer appreciation and private shopping events. Keep reading to learn more!
Generate More Holiday Revenue During the COVID Crisis
Facebook has done a lot to help SMBs amidst the current pandemic crisis, including giving away $100 million in cash grants and ad credits and implementing “Facebook Shop”, which makes it easier for small businesses to sell online. Their most recent assist, however, comes in the form of a paid online events tool which allows for the monetization of SMB events held online.
Not only does this powerful tool allow businesses, educators, creators, and publishers alike to create and host events and classes online, but event hosts keep 100% of their profits (with the exception of 30% app-store tax on iOS). This is a serious business-booster during some very unprecedented times.
Paid online events is currently a free product that enables “businesses, creators, educators and media publishers” to set up paid events or classes online and keep 100% the revenue themselves — except on iOS, where event hosts must give up the 30% “App-Store tax,” as Facebook called it. (Source)
All the Bells & Whistles, Free Until August 2021
Facebook’s new feature includes all the bells and whistles necessary for paid online events, including ticket sales, payment processing, promotion & hosting. Users can create the event, promote it to their followers via social media marketing and/or Facebook ads, and receive payments directly to their bank account. Hosts may also create custom audiences composed of participants from select events, which is an excellent feature for targeting purposes.
According to Facebook, all potential fees will be waived until at least August 2021. This makes the paid online events tool that much more attractive to SMBs looking to make money amidst the current crisis. Additionally, the social media platform plans to allow businesses to tag products from Facebook Shops and catalogs so that said products can be featured at the bottom of the event video. This will allow attendees to easily locate and learn more about specific products should they wish to make a purchase.
What Beta Testers Are Saying
Beta testers for Facebook’s paid online events tool described it as revolutionary. They use the feature to host a wide spectrum of events including fitness classes, boxing matches, trivia events, podcast recordings, expert talks, and more.
Why You Should Care
This holiday season, people are anticipated to travel and socialize far less in comparison to previous years. This makes Facebook’s paid online events tool a valuable resource for small businesses looking to connect with customers, and vice versa. With such largely positive testimonials, this Facebook tool possesses serious potential for generating SMB revenue and boosting sales this holiday shopping season.
Are You Eligible? Find Out Today!
Click the button below to check your eligibility for Facebook’s Paid Online Events tool today!