“Grow”. The print venture of Facebook – is it worth it?
3 min read
3 min read
We are usually used to thinking of the largest social network as we know it today – Facebook, in terms of a digital platform where people get connected to their social circles and the businesses they are fond of. But in a recent move to reconnect with business leaders, Facebook has launched its first print publication, Facebook Grow, targeted at busy senior executives who usually do not spare their time to scroll through news feeds.
The launch of the magazine has been so far restricted to the British market to exclusive quarterly issues and is also underlined by an annual summit event. Grow is being distributed in first and business-class airport lounges with a lavish display surrounded by lush green plants, indicative of the growth theme. The slogan of the project “Grow Your Business. Grow Your Network. Grow Your Mind.” is a self-explanatory description of its mission to create a thought leadership platform for the high-end market, which is actually a very similar strategy to building up Facebook’s original user base.
Streamlining a quiet launch of the magazine is also indicative of Facebook’s stand on publishing in-house content. The social media giant has always denied being a published, thus escaping the responsibility for the content which is published on its news feed. This was also partly the reason why Facebook was not directly responsible for the interferences in the US election back in 2016 and the false news scandals.
The deterioration of the relationship between Facebook and corporate partners, following the recent scandals around the data privacy of users is yet another reason why the social network seeks to re-establish its presence in business circles. Rather than directing readers’ attention to the traditional channels of communication of Facebooks (mainly ads in news feeds and outdoor advertising), the social network is seeking to establish a more personalised form of communication. The choice of the print magazine and editorial content that is easy and quick to digest, as well as the distribution place (airport lounges) reflects the busy lifestyles of business leaders, who often only have time to engage with content during business trips.
Even though the case of Facebook Grow makes us question if the social platform is starting to turn into a publisher, it makes perfect business sense from their side and is a good example for brands to follow. Above all, it shows that businesses should not restrict communication to the target market to predefined channels. They should instead listen to their customers and tailor their marketing strategies to the behaviour of the people that are most important to them. And with Facebook showing us that even one of the largest tech companies is able to differentiate its approach, it is without doubt that every small and medium company should start to reconsider their marketing strategies from today!
Get an exclusive look in the articles from the magazine here: https://bit.ly/2ypiaWq