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This is the second most visited site in the worldOnce market leader Myspace has only 63 mn usersIt allows the users to connect and interact with other users including Messaaging, groups………………Facebook’s interface is simplistic and clean and tends to attract those looking for a crisp, structured social networking environmentJust say something about the graph and pie chart
Based on user informationWhich can be used to launch new products and offers, product info and knowing user preferencesThese are continually updated feed and business can place ads that are fully integrated with these
Please read pg no 409 paragraph 6, 7 and page 410 para 1 and 3
Please take input from Page no 411 para 13. Google + has the concept of circles for various types of users. This is a better way to control privacy and share content
1.Currently only info is given thru facebook pages. They can be used for real buying of products and services also like, travel or movie tickets, etc.2. Facebook credits can be earned by playing some games or using some apps or can be bought online. Imagine going to McDonald’s and tapping your phone on a device at the register to pay with your Facebook Credits.
Currently only the information is given. But Facebook can be integrated with related sites for entertainment solution like movie rentals………Like youtube or rapidshare, facebook can be used to host and share files tooCan be used by special interest groups to come together virtually and share their views, ideas and discuss what they feel strongly about
There has been a lot of controversy in the past regarding privacy settings and regular changes in them. We can suggest to make them simpler and consistent with the present user demands.We can have a survey to know what kind of use they want from facebook and whether they would be interested in getting info on the list of products and services provided.Based on user preferences and data provided on their profile, they can be effectively segmented for target advertising
Link cloaking is the practice of hiding links to external sites in links similar to internal ones. This hurts the revenues of Facebook as users are directed to external sitesThere are many trojans and viruses attacking Facebook users. These seemingly innocuous links harm the users system and can be used for data theft. They sometimes become a deterrent to users clicking on ads.As discussed earlier, Facebook can be used for e-commerce and M-commerce which are the new generation revenue generators. Right now, facebook is used to give information only but in the future Facebook can be used to sell directly and can earn greater revenues.
Inception in 2004 – Currently the leader in social networking<br />Has around 750 mn users<br />Messaging, groups, photo sharing, user-created apps<br />Simple & Crisp Interface<br />Introduction to facebook<br />
Opportunities through <br />Advertisements can reach highly targeted audiences<br />Firms can have Facebook Pages <br />News Feed and Status updates<br />
Privacy issues<br />Beacon – Shared user activities without consent<br />News Feed – Considered to be an Invasion of Privacy<br />Problems related to Account Deactivation & Deletion<br />
Business model<br />Network Effects Model – Value of a Good or Services to a Potential customer increases with number of customers already availing that service<br />Revenue Generation – Advertisement<br />Local Text Ads – From local businesses<br />Traditional Banner Ads – On side Panel<br />Sponsored Groups – Pages of Companies<br />
Business model<br />Facebook Platform for Widgets and Apps – <br /> Win- Win Situation for both Facebook & App Developers<br />Apps for Businesses – Ex.: Flixster, We Read, etc.<br />
Advantages of the model<br />More than 750 mn Potential Customers (Would have been the 3rd most populated country)<br />Targeting the Customers is easier – Companies can target based on the stage or condition of the user (Marriage, child birth, higher education, etc.)<br />Easier to maintain an interactive page than maintaining a full scale website for small businesses<br />
Threat to the facebook model<br />Immersive environment due to Apps - make the Ads less noticeable<br />Apps advertising for other Apps – No extensive external advertising<br />Threat from Competitors – Google+ gathered more than 25 mn users in less than a month<br />
Future of Facebook<br />E- Commerce of merchandise and services through Facebook<br />Use of Facebook Credits to purchase real world objects<br />
Future of facebook<br />Entertainment - Movie rentals, buying music, online gaming, etc.<br />File hosting and sharing<br />Platform for people with common interests to interact, share and publish their views<br />
Profit vs Privacy<br /><ul><li>Simpler Privacy settings and controls for sharing of user content
Conducting survey for knowing user preferences
Effective segmentation of users based on usage patterns</li></li></ul><li>Profit vs privacy<br /><ul><li>Stop Link Cloaking
Improved security features to assure user loyalty</li></ul>Increase emphasis on e-commerce and <br /> M-commerce on Facebook itself<br />