Welcome to my Blog. This is my very first bog post.
I think that Facebook can rule the world. Ok so maybe not the world but definitely the web. The Social media giant really needs to sit up and start taking lessons from the “big boys”
Facebook is already, easily the world’s largest social networking website with over 850 million active users resulting in over 1 trillion page views each month. This translates to over 50% of the entire internet’s traffic.
The company has done well lately as well, returning over one billion dollars in revenue for first quarter 2012 alone.
It already purchased a number of smaller companies such as the very popular Instagram to bolster its offerings but I feel Facebook is just not doing enough, fast enough. It needs to buy more businesses that will be relevant quickly. Facebook can open up a whole dictionary of new social buzz words with every new feature.
In a world where new tech start-ups are being born every single day, Facebook in my opinion is already operating like a dinosaur. It’s not changing fast enough. Too many new startups are getting too much attention for the guys ate Facebook to be comfortable but they seem to be. I remember them for doing the very same thing since inception.
I mean take a look at Google for instance, Google appears to be blazing the trail with its continued innovation. Google started up as the king of search, then it became the king of free email, taking over from a colossus like Yahoo. Now Google is a serious player within the corporate circles with its Google Apps offerings. Google Apps like all its major offerings have become serious disrupters and no one knows this better that Microsoft. Google plus is yet another offering from Google which shows the guys at Google are just not content where they rule, they wants to own the web, all of it.
Google is actively in Africa, where it has set up shops in countries such as Nigeria and Kenya, both emerging economies, one in east Africa and the other in West Africa, Google is also well represented in South Africa. The African continent is getting a lot of attention from Google.
Google’s Android is now the dominant smart phone operating system in the world. Android now has a 56.1% share of the global smartphone OS market, followed by iOS with a 22.9% share, Symbian with an 8.6% share and RIM’s BlackBerry OS with a 6.9% share. Android’s market share increased from just 36.4% during the first quarter of last year, too. Android’s share of the US smartphone market alone ballooned to 61% while Apple’s ios dropped to 29%.
Ok so maybe Google is an exception, let’s look at another tech company that started simple and charted its way to greatness.
Amazon. Amazon was and still is synonymous for books, they practical revolutionized how we purchased and interacted with our books. They didn’t stop there, Amazon has gone on to becoming the largest online shopping mall selling just about everything imaginable. As if that was not enough, Amazon continued to innovate bringing us devices like the hugely successful kindle rage of e-book readers.
Amazon also practically powers the internet providing massive computing and storage resources to some of the biggest businesses online. A Facebook Social Shopping experience would really give Amazon a run for their money, on the other side I would be surprised if Jeff and his team at Amazon are already exploring the social networking arena, I mean how hard can it be they practically power half the internet anyway.
Amazon and Google are 2 tech giants who have realized how thin the line between success and failure is in this extremely fast changing space. For companies to survive and grow they must be in state of continued innovation, they need to react to the environment quickly. Both Google and Amazon have continued to deploy new creative initiatives while continuing to strengthening their core. Could Facebook be operating based on a 10 years strategic business plan? Are they sticking to this plan to the letter. I dare say they I doubt this very much. They have shown flashes of change but nothing dramatic or space changing. They have shown a desire for innovation but very little seems to really be happening.
Facebook continues to play within its space of social networking comfort, adding a new feature here and there, now and then, buying one small startup or the other, partnering with one company or the other.
This sort of growth really doesn’t count for much in this day and age.
The Facebook IPO is the hottest thing in the media circles right now, it just opened at $38, the highest for any IPO I was made to understand. I really can’t wait to see what Facebook will be valued at after this IPO, maybe $80 billion, but I doubt it will be in the region of Google’s $200 billion.. There is a lot of negativity about the viability of the Facebook brand as a going entity too, you see Facebook appears to only be making money from ad revenue and that is seriously dwindling. GM just reported that they would no longer be advertising on Facebook, they couldn’t link their ads to sales, a number of companies will follow no doubt.
Facebook isn’t maximizing ads for mobile, mobile is the new buzz platform and they are not making considerable revenue from it yet.
I mean they have over 850 million active users on their platform, many would say this is vitally the entire internet. If you could get over 850 million users to your website with the number growing daily what would you be thinking of doing and doing fast too?
Simple, keeping them on the platform !!!!!
Stop them from opening another tab to head over to Google for a quick search, integrate search into Facebook that is both robust and as powerful as Google and Bing. Call it Social search, which Google has already taken over, integrating search results from multiple social media platforms.
Integrate a filly featured e-commerce portal, the links of Amazon right into Facebook and make loads of money at it too. Make shopping Social. Let friends share what they buy with friends and open up a whole new space for revenue generation. Let’s call this Social Shopping.
What about the rumored Facebook phone ? In this day and age this would be easy to achieve even riding on existing Android platform. A fully functional Facebook phone that integrated all the communication feature of the platform. Instead of working with Google on this one, why not buy into RIM. If anyone can save RIM from the “fall” Facebook should be able to make the device and the experience it brings total again.
With all these people and traffic hitting one portal the analytic and trends that could be tracked and used would also be unbelievable, people would pay for such data too. The ultimate Social Analytics.
Facebook should become a behemoth and go after the iTunes music store. Build a store just as awesome and integrate Social into it. We call this Social Music. Apple has a very week product called ping that attempts to do this but its really not working, this is a space Facebook can own quite easily too.
Mobile is going to play a major role in determining market share in the future with experts predicting that internet traffic from mobile devices would overtake that of desktops by 2012.Facebook isn’t even playing effectively in that arena and I think this is a major cause for concern. Facebook should be thinking, mobile, mobile, mobile
If Facbook is to be a major force in 10 years or even to remain relevant at all, the above projects should already be in the works as Google does with their Labs, if not, the end might just be nearer than we all think.
Its not all doom though as Facebook is obviously aware of the need to push mobile integration and development but we need to see “action” soon.
For one, the social networking giant has over 500M mobile users, secondly it not only purchased just Instagram a picture sharing app with over 40 million users, it also purchased the Lightbox team responsible for creating photo blogs via mobile.
For developing countries, mobile is predominantly their gateway to the web and Facebook. Nigeria currently has the highest Facebook mobile penetration rate in the world with an amazing 81% of people accessing the site via their mobile devices.