Saturday, August 25, 2012

Facebook Fact & Fallacy

It's no secret that the value of Facebook has weakened on the stock market. But how much weight does the Social network carry across other areas?

CAPITAL ::: At the moment, the powers behind FB don't seem to worried about falling prices on Wall Street ::: indeed, they may be profiting from the IPO in ways you never imagined. Is some or all of this money being pumped back into FB? After all, somebody has to pay for the company's fancy new digs...

CUSTOMERS ::: Facebook Will hit 1 Billion users any minute... the most recent official tally released by the firm is 955 million users. But some question just how many of those accounts are fake. No one knows for sure.According to the Forrester Research report, "The Facebook Factor: Quantifying the Impact of a Facebook Fan on Brand Interactions,"
  • BlackBerry Facebook fans are 4X more likely to recommend the brand to friends and family
  • Coca Cola Facebook fans are almost 50% more likely to consider a brand purchase
  • Best Buy Facebook fans are almost 2X as likely to have purchasedfrom the brand in the last 12 months.
CHALLENGES ::: FB's biggest is the monetization of mobile users. Which, if handled incorrectly by the wrong geek, could put a sudden end to Mark Zuckerberg's social world.

And the question still remains: how to effectively monetize
Which brings us to

DIRECTION ::: Facebook has already had a "technorati moment" or two, where the geeks muck up something that was perfect... they've also had a "google moment" or two, where the geeks fix something that isn't broken. Now, there's a slight difference between those two categories. If you've been reading blogs since 2002 or so, you know what I mean.

Here's a like-minded comment from Paul Saffo, blogging on CNN _ "Facebook has overestimated its own popularity. There is a difference between using Facebook and loving Facebook. The company has repeatedly annoyed its users with everything from privacy policy waffles to aggressive ad placements. Facebook is the Microsoft of social media; used by everyone but truly loved by few." [link]

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