Visa Business On The Facebook Platform
Visa went and did it. They created a Facebook application for small businesses as part of their pushback against American Express and their successful Plum Card launch. Cool. I'm seeing and hearing their commercials everywhere, and while it lacks the coolness of the barrista asking me where I got the card, Visa is a big part of our business as well, and I'm definitely going to see what they're up to.
This is also great for Facebook, as it's a step towards professional networking and away from strictly a social platform. Millions of people are on Facebook hoping to use it for business purposes, and this seems like a step in the right direction.
There's just one problem. It's yet another example of a company assuming that having a destination is the same as giving value. It takes time to get value out of a social network. Time spent on Facebook is not time spent selling, managing, marketing, or doing your accounting. And time spent on Facebook's Visa application is time spent away from your own social networks.
It's a fine resource, but there are already thousands of great resource out there for small businesses. It seems like all they are really doing is taking advice from Entrepreneur, the Wall Street Journal, and other already available resources. In other words, they're replicating services and content from other places on Facebook. That's great, but did it need a big budget and a campaign? I'm dying to know how much it cost and who did it, and the measure of effectiveness after a bunch of people download the app.
The site says that you can Grow, Manage, and Connect. You may get good information, but it's highly doubtful you'll be able to make any money from joining this club.
Here's what you should do if you want to make money on Facebook.
1) Start your own group and manage your own network.
2) Provide value to your readers, and determine if they would rather read a blog, an e-mail, or your Facebook account.
3) Track results.
4) Download the Visa App, but make sure your work is pointing to a site you control where you can measure and analyze results.
I was really excited when I read the Relevant Mind post about the Visa network, but in the end, it was not what I was looking for. Let's check back in six months.
I'd be wildly interested to see what Vias





