ABOUT whatsapp businessan application developed by Meta specifically for the needs of small businesses, continues to show impressive growth. The company announced that the number of WhatsApp Business monthly active users has passed the 200 million mark, up from the 50 million registered the previous year.

In an effort to grow its income and diversify its sources of income, Meta is investing heavily in the development of the Metaverse, a project led by Mark Zuckerberg. To offset these costs, the company is expanding its revenue-generating efforts through other platforms, including WhatsApp.

WhatsApp Business recently announced a new feature that will allow users to create “click to WhatsApp” ads without the need for a Facebook account. This update is a huge boon for merchants, who will now be able to create, buy and publish ads right in the app to reach their target audience on Facebook and Instagram.

Last year, during a conference call to review third-quarter results, Mark Zuckerberg revealed that annual WhatsApp click ad revenue had already surpassed an impressive $1.5 billion mark, up 80% from the previous year.

In addition, WhatsApp Business is introducing another paid feature that will allow merchants to automate the sending of personalized messages to their customers. While pricing information has yet to be released, WhatsApp has announced that it will start testing the feature soon.

The images posted by the company suggest that businesses will be able to send different messages to specific customer lists, enabling more targeted and personalized communications. For example, a merchant may send a discount code with a “Buy Now” button to attract new customers.

The goal seeks to collect more with the business

Meta has taken concrete steps in recent months to increase its paid posting revenue. In February, changes were announced to WhatsApp’s pricing structure and messaging categories, which now include utilities, authentication, marketing, and user-initiated business conversations.

During a Q1 2023 earnings conference call, Mark Zuckerberg revealed that the annual revenue generated from in-message ads has reached a staggering $10 billion. In addition, the number of businesses using the paid messaging service on WhatsApp increased by 40% compared to the previous quarter.

While Meta has not yet separately disclosed WhatsApp’s earnings, it is clear that WhatsApp Business has played a major role in the company’s revenue growth. However, the most recent quarter saw a 5% year-over-year decline in the “other” category, mainly due to declines in other items offset by strong growth in WhatsApp Business messaging revenue.

In addition to looking to increase revenue through paid messaging, WhatsApp has also focused on building its payments business on the platform. In April, the app introduced the ability to make payments to merchants in Brazil, and expanded the feature to Singapore a month later. WhatsApp recently launched a channels feature that allows conversations to be broadcast between different organizations and is exploring ways to integrate payments into these channels.

With the continued growth of WhatsApp Business and Meta’s revenue-boosting initiatives, it’s clear that the company is committed to bringing more and more features and functionality to small businesses so they can reach their target audience and grow their business with the app.

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Source: Reuters.

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