BuzzFeed CEO Jonah Peretti has built a multi-million dollar business thanks to Facebook trends and he recently revealed to the Wall Street Journal that his company’s relationship with the social network has allowed it to drastically increase its click-through rate for ads.
According to Jonah the website receives an average of 40% additional views from people who share its content on Facebook. He also revealed that readers are 10 to 20 times more likely to click on ads when posts are socially shared.
The program has been so successful that Buzzfeed has ditched traditional banner advertising for the Facebook setup.
BuzzFeed plans to continue its strong relationship with Facebook, purchasing Facebook gathering start-up Kingfish and hiring former Faceboook communication designer Jeff Greenspan as the company’s new creative chief.
In speaking of his company’s Facebook relationship Peretti reveals:
“We are very complementary companies. They own the railroad tracks, we drive the trains.”
And a great train ride is certainly is for BuzzFeed, the platform has become so popular that when Facebook wanted to start testing its newest ad format it asked BuzzFeed to be one of its premiere testing partners.