Facebook (NASDAQ: 191,605 FB, 0.62%) seems to want to seriously monetize WhatsApp, the cross-platform VoIP and VoIP service acquired by the tech giant in 2014 for $ 19 billion. In a blog post (read here), the company announced Thursday the new feature of WhatsApp, with which companies can better market their products.
The new WhatsApp tool, called catalog functionality, displays the full range of products and services offered by businesses. Previously, these companies had to send product photos and repeatedly transmit product information to different customers.
Now, however, an enterprise in this digital sector can add information such as price, description, and product code for each item in its catalog. This will increase customer loyalty and focus on continuous chatting, without the need for users to search a company’s dedicated website for product references.
When the users are ready for the transaction, they are automatically redirected to the provider’s website of the specified payment solution.
The catalog feature that marks Facebook’s latest salvo when trading its chat application is now available to companies using the WhatsApp Business App on Android and iPhone in Brazil, Germany, India, Indonesia, in Mexico, the United Kingdom and the United States. Parts of the world, according to the blog.
Of course, Facebook’s flagship news feed product continues to generate high advertising revenue (read our corresponding coverage here). In its third quarter earnings report, the company announced that its average revenue per user (ARPU) had increased 19 percent to $ 7.19 per year. That equates to $ 17.6 billion of revenue generated by 2.45 billion Facebook users.
Facebook users are more likely to click on ads than users of other social media platforms, which contributes to this phenomenal growth. This improved user interaction is based at least in part on the company’s optimized algorithms, which deliver the right ads to the right people.
Still, it seems that the tech giant is now ready to exploit its Instagram and WhatsApp platforms. In March 2019, Facebook added a purchase feature to Instagram, allowing users to click on a “payment” option for items marked for sale and pay for them in the app.
In addition, the company announced in 2018 that it was beginning to charge businesses sending news about marketing and customer service via WhatsApp fees.
The fees for these messages vary by country and range from 0.5 to 9 cents per message. According to a WhatsApp spokesperson, more than 100 companies now use this paid product, while nearly 5 million use the free WhatsApp service.
All of these developments are part of Facebook’s overall strategy of putting more emphasis on private discussions by increasing the number of robots and augmented reality tools.
According to Mark Zuckerberg, CEO of the company, these changes are intended to encourage businesses to communicate with consumers through the various messaging services of the technology giant.
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