Everything has its pros and cons. Although there is a lot of valid backlash against Big Tech, there are still ways to ways Big Tech to increase the strength of your business model. Although Big Tech backlash is popular (2 in Americans support the break up of Big Tech), you shouldn’t lose much, to any, loss in business following utilization. In fact, a primary benefit of Big Tech is exactly in its name. Major tech platforms such as Facebook, Google, Amazon, and more can help you connect with your following on a broader base – especially for marketing purposes.
Whether you use Big Tech platforms to sponsor advertisements, sell a product, or to create open-dialogue with your clientele through use of a Facebook Business Page, Big Tech gives you the opportunity to increase your audience reach and interaction outside of your personal website.
Websites such as Facebook, Amazon, Apple, Microsoft, and Google (FAAMG) have an “everyday website” kind of ring to them, but do not underestimate their power. In 2018, FAAMG’s combined earned revenues equated to 68% of the United State’s GDP growth. In fact, Google and Facebook are among the 3 most visited websites worldwide. Simply having an account is the key you need to reach each platform’s user across the globe.
Utilizing these platforms is a great stepping stone in outreaching to their subsidiaries, which extends your outreach. For example, you could use a Facebook Business Page to advertise your products, spread the word about your business, connect with your consumer market, and more. Eventually, you could connect audiences using WhatApp and Instagram, subsidiaries of Facebook, to share photos, offer WhatsApp customer service phone communication for your International clientele, and more. The same goes for Amazon – building a reputable Amazon reputation for your products can lead to distribution and availability of your brand in its subsidiary Whole Foods, or Zappos if you’re selling from a different angle of products.
More than half of Americans use FAAMG platforms, which has prompted calls to break it up to increase competition. Would increased competition help or hurt your business? The future of Big Tech is set to continue growing – Apple being worth $266 billion, Amazon $233 billion, and so on. Read more to paint a better picture what a big tech breakup might look like.
Infographic Source: Great Business Schools
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