Michelle Sullivan Communications

Monetizing Facebook

The Associated Press is reporting that Facebook is working with Visa to test out a new monetizing concept for the site. Not only is Visa pumping $2 million into the site’s advertising platform, it’s including Facebook in a campaign aimed at small business owners.

Visa will give a $100 advertising credit on Facebook to the first 20,000 U.S. businesses who download the Web application needed to join their network. The number of small businesses who already have profiles on Facebook is estimated at 80 000.

Visa will provide tips and support to the small businesses who join their network, as well as provide them with the opportunity to network amongst themselves.

AP also reports that Visa will go a step further by working with Google, The Wall Street Journal and Entrepreneur magazine to offer even more to network members, from business card templates to articles directly responding to the network’s queries.

July launch date. Stay tuned.

No word yet if this application will eventually extend to Canadian businesses, but if it works, it could certainly serve as an interesting model.

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