The fault and advantages of Facebook

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Facebook is an online social media and social networking service company founded in 2003 by former Harvard Student Mark Zuckerberg. It's quick rise to fame has led to its current title as the leading social media platform. Worldwide, there were over 2.32 billion monthly active users (MAUs) as of December 2018.




Mark Zuckerberg during a 2017 event. Image retrieved from Fortune.

 The continuously growing social media platform additionally experienced a nine percent increase in Facebook MAUs with 2.32 billion users during the third quarter in 2018. With regards to daily active users, there was an approximated amount of 1.52 billion DAUs. One could assume there is a clear indication of continued growth and engagement on Facebook's platform, whilst promoting connectivity amongst users.

 The leading social network enables businesses to promote their company via Facebook. 65 million businesses are reported to be using Facebook pages, and more than six million advertisers are actively promoting their business via Facebook. These statistics nonetheless support that companies are able to use Facebook as a helpful marketing tool to gain a large following.

 The term, New Product Development (NPD) could be used to better explain how businesses can benefit from creating Facebook Pages for their product or service. In regard to Facebook, NPD includes the development, marketing and positioning/repositioning of new ideas, places, or people. Facebook Pages could enable businesses to reach potential customers that couldn't be reached before, especially small businesses that might not have the sufficient funds or expertise.

As found on Statista, an October 2017 survey reported 47.7 percent of respondents made a purchase directly through Facebook. Simply put, effective and creative NPD leads to effective positioning, and to some degree effective promotion strategies.

Facebook has a seemingly overabundance of features and applications that can be found on the website or mobile application; for instance, some of the prominent features include: status updates, marketplace, Facebook mentions, live streaming, etc. Users also have the option to share different forms of content on Facebook—images, text, videos, live videos, or stories, are some of the many to name.

 Below is a video of some the perks Facebook employees experience:




These features are extremely essential to the effectiveness of Facebook, mostly due to the idea of promoting the aforementioned idea of “connectivity” amongst users; this of course, did not go un-planned. In actuality, Facebook was specifically designed to spark conversations and create meaningful interactions, especially between family and friends; or, in some cases, individuals can virtually “make” new friends through mutual interests and/or mutual friends, etc.

Facebook has a seemingly overabundance of features and applications that can be found on the website or mobile application; for instance, some of the prominent features include: status updates, marketplace, Facebook mentions, live streaming, etc. Users also have the option to share different forms of content on Facebook—images, text, videos, live videos, or stories, are some of the many to name. 

These features are extremely essential to the effectiveness of Facebook, mostly due to the idea of promoting the aforementioned idea of “connectivity” amongst users; this of course, did not go un-planned. In actuality, Facebook was specifically designed to spark conversations and create meaningful interactions, especially between family and friends; or, in some cases, individuals can virtually “make” new friends through mutual interests and/or mutual friends, etc.

 In 2018, Facebook reported that the social network’s revenues amounted to 55.8 billion U.S. dollars—an increase of an approximated amount of 15 billion-dollars from 2017. 

 According to a CNBC article from January 2019, Facebook posted strong financial numbers for its fourth quarter, amidst the recent outrage over illegal privacy practices. In that same quarter, Facebook additionally reported a net income totaled $6.88 billion, which was both a record profit and 61 percent increase from last quarter. Perhaps one of the most notable outcomes of the recent report was the company’s decision to increase investment in cybersecurity. Simply put, Facebook has been shown significant improvement following the public outcry for privacy concerns.

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