Facebook has transformed opportunities for Small and Medium Businesses globally.
This is not a story of David versus Goliath. That story is as old as time. This is a different and modern story. This is a story of David loves Goliath. I mean real love. The kind of love where you move in together and spend your weekends going to open houses, making vision boards and picking out names for the children you haven’t had yet.
There is plenty to critique and many elements of our digital world that are broken or problematic. Data, access, authenticity, integrity and echo chambers are some of the areas that need to be addressed as we understand this massive force called Social Media. We support these discussions and welcome continued investigation and ideas on improvement.
However, what often gets lost in the discussion is the innovation, transformation and economic activity that Facebook creates. And the benefits of this for small businesses.
Historically, SMBs account for 44% of all economic activity and 64% of net new private sector employment. Over 2MM NEW SMBs have created advertising accounts on Facebook in the last 24 months. Facebook has spent over $1BN on educating these small businesses to learn the platform, become advertisers and make use of the tools to grow their business.
There are now over 7MM businesses that rely on Facebook Ads Manager every day to acquire customers, find new users, promote their products and services and generate revenue. There are thousands of companies that use their API to assist businesses to optimize spend, make smarter ads or generally improve their business. Arrow is one of them.
88% of SMBS do some form of digital advertising.
Digital Transformation of SMBs: The Future of Commerce Study by Visa, 2020
A survey of 1,000 small business owners by Google and Deloitte in 2020, 25% respondents revealed that the pandemic accelerated the adoption of digital tools and 31% said that embracing new technology helped their business during Covid-19 pandemic.
There are millions of businesses in a traffic jam to get on the on-ramp to the attention economy, meaning they are looking to learn, utilize and succeed using digital advertising.
Our mission is to democratize the media tools, creating more access for SMBs and sustainable D2C and digital advertising ecosystems for ALL businesses. The reason we can tackle this problem is because Facebook built the platform and launched the ecosystem we are dedicated to making better.
This is a serious goal - so that’s why I am ready to start picking out curtains with Facebook!
Founder & CEO
👆 Saving businesses $56BN a year
🙂 “Be yourself; everyone else is already taken” - Oscar Wilde
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