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by _Understated_
2435 days ago
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My business partner and I did our best to avoid getting caught up in this race to the bottom with our product. He was convinced we needed more followers on FB and Insta and wanted to target our effort there. We did. We tried and the figures just do not support it. From all the figures we had available (sample size of 1 here!) we worked out that for every 8 sales we needed 10,000 likes of our product. 10,000 likes to get approximately 8 sales. Not sure what the ratio of views:likes is but I bet it's 100:1 or something. It's a full time job to manage people on social media but it's a total con: it takes masses of "engagement" (or whatever their bullshit is called) in order to get a sale. I suppose it's the myth of the long tail marketplace: There's not enough business from it to sustain me but when you scale up to 100 Million business like me (none of which make much money) it becomes profitable for the marketplace owner. |
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