Who all enjoyed economics class in school? Booooooring I know but bear with me as I only want to take you on a brief trip down memory lane. Still here.....great, one of the fundamental concepts of economics is usually broken down and explained with the expression "There is no such thing as a free lunch". This expression is commonly used to explain that there is always a cost associated with any good or service. Often times the cost may not even be money at all.

We use online platforms like Facebook, Google, Instagram, etc. under the impression that these services require no cost. While this is true from a monetary standpoint we exchange two things more valuable than money to use these services, our data and time. As illustrated in the Graphic below once you sign up and start using Facebook your browsing habits, purchases, and activities are captured and sold to advertisers.

Advertisers then use this data to target their goods and services to you based on your activities online. It's no coincidence that after you searched online for car parts that car part distributors started to show up on your Facebook timeline. Book a call and let's determine a strategy for your business to utilize these "free" platforms as well

#brainstorming #intheoffice