Think Facebook is over? Think again! A recent article in “The Economist” notes that “Facebook is now the sixth-most-valuable public company in the world, with a market value of around $325 billion. Facebook claims nearly 1.6 billion monthly users for its social network…”
We often find ourselves convincing new clients to use Facebook as an integral part of their marketing strategy, as they perceive it as purely a social network with no business impact. However, it often turns into the top referral source to their website. As noted in the article:
- Facebook takes up 22% of the internet time Americans spend on mobile devices, compared with 11% on Google search and YouTube combined, according to Nielsen, a research firm. As a result it has more data about more users than almost any other company in history. It has used that advantage to become one of the most powerful forces in the advertising business. Its revenues have more than doubled in two years, to $18 billion in 2015.
- Facebook is in such an exalted position because no other company, with the exception of Google, has as many users, knows as much about their behaviour online and can target them as effectively. In addition to all the personal and geographical information, interests, social connections and photos users share, the social network is able to see where else they go online.