When Facebook bought the popular messaging service WhatsApp for approximately $20bn in 2014, some observers questioned how Facebook would ever make its money back, let alone profit.
And for good reason: at the time of the acquisition, WhatsApp had a meager $10m in revenue.
But Facebook has proven adept at monetizing not only its own social network, but another popular service it acquired for a ten-figure amount, Instagram, and the social media giant’s efforts to turn WhatsApp into a revenue generator are becoming more apparent by the day.
Case in point: WhatsApp yesterday announced the launch of WhatsApp Business. Here’s what marketers need to know about it.
It’s an Android app
WhatsApp Business is an Android app designed for small businesses. Using the app, businesses can create and manage business profiles, which are like Facebook Pages for WhatsApp. These contain basic information about the business, such as a description, email address, physical address and website URL.
The app also provides messaging tools that enable businesses to more easily communicate with their customers through WhatsApp. These tools include the ability to set up automated greeting and away messages, as well as to define quick replies for common requests.
Using WhatsApp Business unlocks desktop functionality
Businesses that use WhatsApp Business won’t need to use the Android app exclusively to send and receive messages. Instead, they’ll be able to use a WhatsApp Business web application, making it possible for them to manage their WhatsApp presence from the desktop.
It’s available in several countries to start but will be available globally soon
WhatsApp Business can be downloaded through the Google Play Store in the U.S., U.K., Mexico, Italy and Indonesia. WhatsApp says that the app will roll out globally “in the coming weeks.”
WhatsApp will provide analytics data
To help businesses better understand how their WhatsApp Business activities are working, WhatsApp will give them access to analytics data, such as the number of messages read. While it sounds like the analytics functionality will be fairly rudimentary to start, given Facebook’s experience in this area on its core social network and Instagram, expect this to be one area it develops over time.
