Meta seeks to help turn 'fees into profits' with business messaging

Jessica Fenol, ABS-CBN News

Posted at Aug 16 2022 06:15 PM | Updated as of Aug 17 2022 09:47 AM

Facebook, WhatsApp and Instagram icons are seen on a mobile device in Belgrade, Serbia, 04 October 2021. EPA-EFE/ANDREJ CUKIC
Facebook, WhatsApp and Instagram icons are seen on a mobile device in Belgrade, Serbia, 04 October 2021. EPA-EFE/ANDREJ CUKIC

MANILA - As consumers sought a more personal level of connection with businesses through meaningful conversations, Meta said Tuesday firms need to turn into Messaging to improve sales. 

Since messaging, whether through Facebook Messenger, Instagram Direct or WhatsApp, is very personal and is part of most people's lives, businesses are encouraged to tap the same to connect with the consumers, a new study "Business Messaging: The Quiet Channel Revolution Across Tech" by Meta and the Boston Consulting Group said. 

Globally, some 140 billion messages on Meta's apps were being sent daily with a growth adoption in Asia Pacific, according to the report conducted with 6,500 respondents across APAC including Australia, Korea, Indonesia, Philippines, Taiwan, Thailand, and Vietnam. 

Based on the study, 1 in 3 consumers in APAC said they chat with businesses at least once a week. 

In the Philippines, almost half or 40 percent of respondents also said they were messaging businesses more frequently in the last two years compared to the pre-pandemic years. 

Business messaging is also relevant across all age groups but especially with Millennials and the Gen Z, the study showed.

"Billions of people literally spent hours a day using our messaging app and we found that people. What we're seeing is that this interaction that’s very personal is also how people want to interact with businesses. People are now expecting businesses to follow along," Meta Philippines country director John Rubio said in a briefing.

The study also discovered that about 90 percent of businesses have recognized the trend and how crucial is it for success. 

Rubio stressed that messaging also offers new economic opportunities in the region not just for small firms but also for large enterprises.

"The key takeaway for businesses is to start now. The industry is headed there, in this transformation. This accelerated in the last 2 years so the faster businesses are able to free up costs that are tied up in call centers, the money they have tied up there, the sooner they can turn fees into profit and use that by having conversations with people," Rubio said.

In the Philippines 97 percent of businesses have recognized the role of business messaging in their success, the study showed.

"Based on our research, business messaging adoption is gaining traction beyond small businesses in the Philippines. While smaller businesses have been using Business Messaging to digitize and scale their online presence for years, large businesses now recognise messaging as a critical component of their business model. In fact, seven in 10 large businesses have rated messaging as very or extremely important to their overall business,” BCG Managing Director and Senior Partner Anthony Oundijian said.

Meta said it has a suite of tools to improve business messaging for firms including recurring notifications, on top of its wider reach compared to other platforms. 

Most businesses beefed up their online and social media presence during the pandemic to continue catering to the needs of consumers despite the mobility restrictions imposed to curb the spread of COVID-19.

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