Facebook
I find it interesting Rory is going to do a big announcement right around the time (or before) Facebook is pulling the plugging on Live Shopping Oct 1. Probably just a coincidence
But what isn't is the big announcement and update is targeted to happen in Q3. Why?
Seems like it could be in relation to another company, otherwise Rory could have said 5 weeks or 8 weeks. Seemed a bit specific to happen by the end of Q3.
Acquisition, major partnership, major customer(s) all would fit the bill of...
"let's get it done before the end of Q3.
Ok, back to Facebook.
So why are they pulling the plug on LIVE Shopping? Haven't they learned a thing or two from China and a lot of other countries where LIVE Shopping is on fire?
Remember Facebook was the company that sellers were doing their own hack to try to sell Live. They would put post it notes with numbers and if you wanted to buy something, you'd say - "I want #2" in the Chat.
Ugh
Their LIVE Shopping has come a long way, but just about a month left before the big old plug is getting pulled.
SO why pulling the plug?
To me the answer is pretty simple...
MONEY
It's not like they 'can't make money' with LIVE shopping but...
Facebook likes to make lots o'money and with companies like Verb with Market only charging 8-15 commission, it's hard for Facebook to compete because they want Mo' Money.
Keep in mind this is the company that likes to make close to 50% commissions
Meta plans to take a nearly 50% cut on virtual asset sales in its metaverse
https://www.cnbc.com/2022/04/13/meta-plans-to...verse.html
It's also about ads
Ads don't really work in the middle of s Shopping LIVE event
But Facebook is addicted to ad revenue
Do a google search on how much Facebook Ads cost. You might be surprised. You'll learn some new lingo like CPM, CPC, etc
What is the difference between CPM and CPC? CPM means cost per mille, which refers to the cost of getting 1000 views for your ads. On the other hand, CPC means cost per click, which refers to the clicks your ad got compared to the money you invested.
Facebook makes a ton on CPM and CPC
Now they are pushing Reels.
Why?
Because you can throw ads in there.
Facebook Shopping Will Be Going Away on October 1, 2022
https://www.facebook.com/business/help/1462344604282523
Click on the Reel Ads link in the article to learn more
17 of the Top Live Shopping Platforms to Stream Your Shop to the World -
Last Updated: March 4th, 2022
https://influencermarketinghub.com/live-shopping-platforms/
So start crossing a number of them off as they drop like flies.
Actually go through the list and point out the ones that sell the same thing like comics, Pokémon cards and sneakers.
Then go through the list and see of there is anything left that even resembles MARKET
TikTok pulling the plug too and didn't even make the list
There is plenty of room for multiple companies. Actually many, but I don't see any like MARKET. Some don't even have a platform for consumer to go to. They just sell Live Streaming software.
China +$500B with LIVE shopping
US $20B
That's a nice start and look forward to Verb getting a piece of that pie
So long Facebook and TikTok. Nice try though.
I find it interesting Rory is going to do a big announcement right around the time (or before) Facebook is pulling the plugging on Live Shopping Oct 1. Probably just a coincidence
But what isn't is the big announcement and update is targeted to happen in Q3. Why?
Quote:As to MARKET, let me start by saying that we are planning a major – at least in my opinion – a major announcement regarding MARKET within the next six weeks that will include a comprehensive update. Accordingly, my comments here today won’t include some of the bigger going forward initiatives, though I will provide a lot of data points on attendance, engagement, vendor experiences, and insights into how the platform performed.
Seems like it could be in relation to another company, otherwise Rory could have said 5 weeks or 8 weeks. Seemed a bit specific to happen by the end of Q3.
Acquisition, major partnership, major customer(s) all would fit the bill of...
"let's get it done before the end of Q3.
Ok, back to Facebook.
So why are they pulling the plug on LIVE Shopping? Haven't they learned a thing or two from China and a lot of other countries where LIVE Shopping is on fire?
Remember Facebook was the company that sellers were doing their own hack to try to sell Live. They would put post it notes with numbers and if you wanted to buy something, you'd say - "I want #2" in the Chat.
Ugh
Their LIVE Shopping has come a long way, but just about a month left before the big old plug is getting pulled.
SO why pulling the plug?
To me the answer is pretty simple...
MONEY
It's not like they 'can't make money' with LIVE shopping but...
Facebook likes to make lots o'money and with companies like Verb with Market only charging 8-15 commission, it's hard for Facebook to compete because they want Mo' Money.
Keep in mind this is the company that likes to make close to 50% commissions
Meta plans to take a nearly 50% cut on virtual asset sales in its metaverse
https://www.cnbc.com/2022/04/13/meta-plans-to...verse.html
It's also about ads
Ads don't really work in the middle of s Shopping LIVE event
But Facebook is addicted to ad revenue
Do a google search on how much Facebook Ads cost. You might be surprised. You'll learn some new lingo like CPM, CPC, etc
What is the difference between CPM and CPC? CPM means cost per mille, which refers to the cost of getting 1000 views for your ads. On the other hand, CPC means cost per click, which refers to the clicks your ad got compared to the money you invested.
Facebook makes a ton on CPM and CPC
Now they are pushing Reels.
Why?
Because you can throw ads in there.
Facebook Shopping Will Be Going Away on October 1, 2022
https://www.facebook.com/business/help/1462344604282523
Click on the Reel Ads link in the article to learn more
17 of the Top Live Shopping Platforms to Stream Your Shop to the World -
Last Updated: March 4th, 2022
https://influencermarketinghub.com/live-shopping-platforms/
So start crossing a number of them off as they drop like flies.
Actually go through the list and point out the ones that sell the same thing like comics, Pokémon cards and sneakers.
Then go through the list and see of there is anything left that even resembles MARKET
TikTok pulling the plug too and didn't even make the list
There is plenty of room for multiple companies. Actually many, but I don't see any like MARKET. Some don't even have a platform for consumer to go to. They just sell Live Streaming software.
China +$500B with LIVE shopping
US $20B
That's a nice start and look forward to Verb getting a piece of that pie
So long Facebook and TikTok. Nice try though.
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