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Facebook is a great marketing tool - it gets our names and faces in front of potential clients and helps build relationships. It's a quick and easy way to stay in touch, and it's entertaining.
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39 Comments on How much money are you losing because of Facebook?
I try not to get on Facebook more than a few minutes in the morning and a few minutes in the evening and occasionally while sitting around waiting to go into a meeting. It is a definite time waster. Of course most of the people working a clerk type desk jobs don't put in more than 20-25 productive work hours a week anyway. That's why they work at the clerk job.
Wayne & Jean - I try to limit my facebook time to off-work hours. You are correct, however, some people spend an inordinate amount of time on facebook posting silly things and telling people what they had for lunch, etc.
Good post! I recently read two reports or blogs that said you should only spend 3 hours a week on all social networks updating your status, posting comments, etc. The other report said, if you plan properly, you should only spend about 30 minutes a week on your social networks. This would, of course, require you to prepare your status updates ahead of time and then post them online. This would require about 10-20 seconds per. These authors argued that in this way you could receive all of the benefits of a social media presence without the loss of time. One has to be very disciplined to do this but for the author it was how he chose to run his business.
Maybe it's my age... but when I look at all the time people spend on Facebook yapping about nothing important all I can think is that these people "need to get a life." I care about important events in my friends' lives, but not the minutia. And sometines if it's that important and/or critical should it even be posted on such a public forum? Personally, I think not. TMI in general!!!
I look at Facebook and other social networking arenas as tools in the kit of "staying in touch." I refuse to do anything I don't enjoy! Therefore, none of it will become a waste of time. I will say however, some social networking is far more successful than others! For example, I'm a huge fan of ActiveRain!
Hi Wayne & Jean,
I have been seeing the survey results on TV recently and they say over 70% percent are bored with FB and want to do something else. I used to spend hours at night while watching TV but don't anymore. I work instead on my emails and logs.
I thought you were going to mention the business lost because of making controversial statements. I had a lot I wanted to say this morning, after hearing the SCOTUS decision, but held off for that very reason. Comments on FB don't change anyone's politics anyway.
To those who want to post now and then but never comment on anyone else's post, that's just obnoxious. BTW - now working with my first client I got off of FB and I rarely discuss business there.
I've closed four yes four deals that all relate back to FB. Works well for me.
I use Facebook for business-- for connections, for keeping up with friends and family- and I do spend time there. But I don't have to hide it. Which is nice. :-) K
With any network these findings can hold true. Also, it also depends on what a person does on a social network that can determine if it is wasteful or productive. While many people use FB just for socializing and connecting with family, others can be quiet productive with updating listings, publishing relative content, and forging new relationship. All depends on what the focus is in my opinion.
One of my good friends is a 5 hour drive away, I said hi to him this morning on Facebook for free and only took a few seconds out of my day. Facebook can be a time suck and waste of effort, but when used wisely and efficiently, it can be a great way to save time and money, keep in touch with far away friends, and even make you money if you have a SMM strategy as part of your business plan. Great post, congrats on your feature!! :-)
Wayne and Jean, People who will waste time will do it. Be it Facebook, youtube, online sport forums etc... It can be a helpful tool also.
I agreee thouhg I really do need to know what level someone is at in a online game. Also you must be careful what you post many employers are using that information during their evaluation process.
Facebook is a big tool for me, I started just to reconnect with old friends and the business just came with it. I spend about an hour a day total commenting on updates and posting my own. So far I've gotten 3 listings and 2 buyers because of it.
Agents are notorious for thinking that just because something is 'free' it doesn't cost anything. Everything has its price. And Facebook is one of those sites where 10 minutes can quickly turn into 1-2 hours.
Hello Wayne and Jean Marie,
The business blogs I choose post to facebook and Twitter, my personal page is only there for my business...I don't post personal info, no time (or inclination).
If you are actively working in real estate I don't see where you have a great deal of time on facebook. I have an account I rarely log into it my profile is for friends only. I don't know if anyone else has gotten suspicious email supposedly from facebook but I have received several recently.
Jacqueline Drake CRS
Cochise County AZ
Amen to that!!! FB can be a valuable tool but too many business people send waaaay too much time on it and therefore waste a lot of time and loose a lot of money!!
Hi Wayne and Jean, I check it for 15 minutes first thing in AM and maybe 30 minutes last thing in PM.
I use Facebook primarily for short business posts, and while I'm spending my no-more-than-10-minutes-a-day there, I notice posts from friends and others who obviously wake up each day just to see how much nonsense they can post on Facebook - I can't help but feel for them, for their day-to-day must be really dry if this is all they can find to do with themselves. A lot of people shoot themselves in the foot by posting things that "oh my!" they would never say in a business setting.