Facebook today published a study on the importance of Facebook apps for the European economy.

Copenhagen Economics was commissioned to carry out the survey and surveyed over 7,700 companies of all industries and company sizes in 15 countries about their use of Facebook apps. The results show that social media has become an integral part of the European and German economy and contributes significantly to its positive development. On Monday, Nick Clegg gave the first details during the DLD conference in Munich. In addition, Sheryl Sandberg and he will present and discuss the results of the study in Davos.

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Nicola Mendelsohn, VP EMEA at Facebook, also published a post about the announcement in the Facebook Newsroom:

Many areas of our modern coexistence have been fundamentally changed by social media - from the way we communicate and build communities online to the way we act socially and collect donations for charitable causes. But companies also use social media to build their business and reach their customers. We estimate that 25 million companies in the European Union, mainly small and medium-sized, use our services today.

To understand the real importance of Facebook for the European economy, we commissioned Copenhagen Economics, one of Europe's leading management consultancies, to conduct a study. We surveyed over 7,700 companies of all industries and company sizes in 15 countries based on their use of Facebook apps.

The companies surveyed said that they were able to achieve an estimated turnover of 208 billion euros by using Facebook apps last year. Using standard economic modeling techniques, this equates to an estimated 3.1 million jobs.

The companies also said that using Facebook apps helped them generate an estimated 98 billion euros in exports last year. Of these exports, 58 billion euros come from sales within the EU and 40 billion euros from trade with the rest of the world.

These results show the important role that social media plays in driving sales for companies across Europe. This is especially true for small and medium-sized businesses who use social media not only to showcase their company and products, but also as a trusted platform for customer communication. In addition, social media is increasingly being used as a tool for analysis and insights as well as a tool for cost-effective advertising. This advertising, in turn, allows them to reach new customers at home and abroad.

We've also seen businesses founded by women, in particular, use social media as a tool for building and the first phase of growth of their business. 58 percent of female founders surveyed said that Facebook apps were important to them in enabling them to start their own business, while more than two thirds of those surveyed (65%) said they were able to use them to increase their sales.

Importance of Facebook apps for companies in Germany

Owners and employees of small and medium-sized companies in Germany were surveyed about their app usage as part of a study by the market research company Ipsos. Of these, 40 percent said that Facebook apps and tools help them generate new business - 47 percent are convinced that their business is running better than before thanks to Facebook apps. More than two thirds of the companies surveyed also stated that the Facebook app and Messenger are important for their business. Instagram and WhatsApp even named almost three quarters at 72 percent.

“Facebook gives us the opportunity to reach a community of men interested in our products at the click of a button.” – Viktor, co-founder, Brooklyn Soap Company. Within six years, the men's care product manufacturer has gained customers in 36 countries. The company relied on digital tools to build an international community and uses Facebook and Instagram for daily customer communication. According to the company's own information, 40 percent of sales were achieved thanks to Facebook, 15 percent of which were abroad.

For years we have been hearing people talk about the “digital economy”. However, the added value that Internet companies contribute to economic performance is by no means separate from the rest of the economy. These study results show that social media has become an integral part of the European and German economy and contributes significantly to its positive development.

You can find the full study here: http://ots.de/gbtYlF

Source: Presseportal.de
Article image: Facebook


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