5 Ways Facebook Questions can be an Answer for your Business

Facebook just announced that they are rolling out a new Questions and Answer feature.  The product feature is currently being tested and was only rolled out to a small beta group as of now.   This feature will allow questions to be asked and then answered by the entire Facebook community. Additional details on the feature’s functionality can be found on Mashablefacebook questions

This feature was not meant to be an advertising platform according to Facebook, but this doesn’t mean that you can’t utilize it to grow and advance your business.  The question is how?

Here’s 5 Rock Solid Ways that your business can take advantage of the new Facebook Questions feature:

  1. Thought Leadership
  2. By providing helpful answers to  questions asked by others you can reveal your expertise.  Once others are aware of you and respect you they are more likely to desire to do business with you.

  3. Working through Problems with Industry Peers
  4. Asking and answering industry specific questions can help you gain more knowledge that can be implemented to improve your business.  There is a popular saying that a rising tide floats all boats…Though you want to win in the market place and out do your competitor it is often effective to collaborate and help one another to achieve common goals, or over come mutual problems.

  5. Uncovering your Customer’s problems (Content Strategies)
  6. Being aware of the questions that your customers asks is a very effective way of understanding the issues and problems that they face.  This new found intelligence can be utilized for market research purposes to assist in developing new products, refining your service offering, or even developing content strategies to help answer these questions in the form of whitepapers, videos or webinars.

  7. Connect and Engage with New Potential Customers
  8. If one of your customers, or potential customers  is asking a certain question chances are many other members of  your target audience will be interested in the answers as well.  These consumers will seek out these answers and some will comment or participate in the conversation.  This basically creates a list of prospects for you enabling you to friend them, start building a relationship and raise exposure of your brand.

  9. Increased Search Exposure
  10. Unless you were in a box for the last five years you would know how popular Facebook is.  Google knows that they are popular as well.  In fact they are one of the few websites out there with a Page rank of 10.  Just to give you a bench mark- YouTube has a PR of 9, Fox News has a PR of 8, MTV has a PR 7.  This basically means that Google views Facebook as a high authority site.  With this high authority they have very strong SEO power and have a large amount of content indexed.  If you are answering questions that consumers in your market are asking there is high likelyhood that other consumers searching for information will find it and be exposed to you.

What do you think about Facebook’s new question feature?

How else do you feel question and answers can be utilized to grow your business online?

Facebook valued more than CBS?!?

Mashable just published an article stating that facebook is now valued at $6.5 billion dollars.  That’s more than CBS, Discovery Communications, and Macy’s.  Mashable’s article was in response to a report released by the New York times which articulated that fb employees were allowed to unload their stocks at $14.77 a share giving them a $6.5 billion dollar valuation.

It’s very true that Information is power and the amount of psychographic data and usage trends facebook has at their finger tips is scary (and I’m not the only one that thinks so: Do you have a FB video).

However as far as profitability and being a viable business I think a valuation of $6.5 billion is absurd. They have raised $716+ million in funding / multiple rounds and in my opinion have too high of costs (700 employees) and not enough revenue coming in for such a valuation. http://tinyurl.com/2cg44

I have a few friends that work at FB and am connected by a 1-2 degrees to some higher up sales managers/executives and last I heard they were not happy at all.  Even though it was a while back my thought is that Microsoft’s $240M investment into Facebook for 1.6% giving them a $15 Billion dollar valuation still is a large reason why they are valued so high.  It’s no doubt that a company like Microsoft or Google can better monetize facebook then facebook themselves can, but how and to what extent remains to be seen.

If you had the money would you buy fb for even $1B?

I wouldn’t.

just my $.02s

Magic, Mashable and Mo-Users…Oh My!

Today was a really good day.   In short GroupTable officially passed 1,000 registered users for our beta, I got 3 free tickets to go see the Orlando Magic and while there Paul Glazowski of Mashable, one of the most popular tech blogs online published an article about GroupTable.  He mentioned that:

“The entire makeup of the service is quite impressive”

- Paul Glazowski

You can view the whole article by visiting the following link:

http://mashable.com/2008/11/10/grouptable/

This should provide some good buzz for us.  Often times other tech blogs see what the top dogs like Mashable and TechCrunch post and give their personal twist on it.

Fyi- The Orlando Magic lost, but Lindsay and I still had a great time!

If you have any thoughts on the article,  or have other ideas or comments about GroupTable feel free to post them here or email me: Dave (at) GroupTable (dot) com.