Facebook is a cultural, economic, and social phenomenon with more than 1 billion users. It is difficult to emphasize the importance of Facebook to journalism, business communication, and social relationships. Users around the globe spend countless hours on the site, and Facebook has become an important tool for obtaining information about not only their friends and families but also about global events. It's not clear if the site is good or bad, but its impact is undeniable.
1. Business
Facebook's Wall Street initial public offering of $100 billion makes it an economic player. Facebook has a whole interface for businesses. It includes business profiles and an advertising system that lets marketers target their ads based upon the vast amount of information users have provided. This interface generates revenue for the company, but it also provides a rare opportunity to small businesses that have limited advertising budgets and need to reach certain audiences.
2. Journalism and Information
A Pew Research Center study found that Facebook is a major driver of traffic to online news sites. Even well-known platforms such as CNN, The Huffington Post, and The New York Times get a substantial amount of traffic via Facebook referrals and links. The Huffington Post is the top-ranked platform at 8%. These numbers are not as high as traffic from search engines like Google but they show a growing trend in this industry and the ability of social media contacts determine what information users read.
3. Communication
The chat program on Facebook reached one billion messages per day in 2009, just one year after its launch. These numbers don't include other communication methods such as comments, messages, and pokes, but they do show the importance of Facebook as a platform for people to exchange information. This popularity is a way to influence communication and language among users, even at a cultural level.
4. Facebook as a Community
Benedict Anderson, sociologist, defines a community to be a group that recognizes each other as part of the whole and shares a set common experiences and practices. Facebook, with its one billion users, is one example of such a community. This number is comparable to the combined population of the United States and Europe. This could be either good or bad depending on how users behave and how Facebook decides to build relationships between members. However, it is important that such large communities exist.
What Are the Benefits Of Facebook?
According to Social Media Today, Facebook Is The Most Popular Social Networking Site. Critics of Facebook point out a variety of problems that social networking can cause, including privacy concerns and fears. While Facebook has its advantages and disadvantages, it can also be an essential tool for business users.
Tip
Are you curious to hear what political leaders think? Hillary Clinton spoke recently about Facebook's advantages and disadvantages.
* Communication on Facebook
Critics claim that Facebook is a means to isolate people by placing them behind a computer screen. However, Psychology Today explained that Facebook allows users to quickly and efficiently share information that they used to keep private. This open communication channel allows customers to ask questions that they might not feel comfortable asking in person, or over the phone. Facebook's almost real-time communication capabilities allow business owners to answer customer questions and provide customer service directly through the social networking site.
* Networking tools
Although networking has been an integral part of business for decades, Facebook's vast social network offers significant opportunities for those looking to get noticed. Business owners can update their key contacts, suppliers and investors with just a few clicks. Users should not post information about the company's offerings or services publicly. Competitors can also see it. Business owners should be careful with information shared on Facebook.
* Social Marketing
Marketing professionals and small business owners can enjoy many benefits from Facebook. Facebook's large user base gives marketers access to a virtually unlimited audience for their commercial messages. Facebook's ad tools enable business users to target message delivery based on a wide range of demographic information, including age, relationship status, and sexual preference. Facebook offers a variety of analytical tools for marketers to help them gauge the effectiveness of their advertising and adjust ads accordingly.
* Research and Insights
Business owners need to remember that other people can see public information. However, savvy entrepreneurs can make use of the public communication channels to find out about offers from other companies. Business owners can use the information from Facebook to monitor competitor activity. Facebook users often share personal details with hundreds of their friends. Business owners can also use this information to track trends and popular culture. Businesses can adapt to changing environments by staying current on customer interests
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