The answer is simple: If you are willing to "pay to play" then yes. If you'd like to "set it and forget it" then no.
"Pay to play" doesn't mean you have to simply pay to advertise but you have to take it seriously and be willing to invest time, effort, staff and advertising to make it truly work for you.
If your hope is that you'll put up a page, invite all of your friends and then it will magically work for you, then you should rethink your strategy!
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I am a consultant in Orange, CT specializing in digital marketing, social media video & custom website creation