Ever since Facebook founder Mark Zuckerberg extended the social networking portal beyond Harvard in 2004, it has been one of the largest revolutions in the global social networking industry globally. With the website reaching a record 500 million users recently, it seemingly has close to 8% of the total population on the planet registered on the portal. The latest feature being added to Facebook is the Facebook Stories link, that is basically an application that allows users to pen down the legacy of how Facebook became an integral part of their lives. While critics label the new feature immodestly boastful, the fact is that this is an extremely clever move, with the feature aimed to showcase to the world brilliant case studies of satisfied consumers straight from the horse’s mouth. Stories of over the top happy users have already started to do the rounds, evidently with much help from the PR machinery of Facebook. Still, as per one recent National Geographic survey, Facebook, despite being the leading social networking site in the world, finds few takers in countries like China, Russia, Brazil, Japan and the sorts. Even countries like India have legacy social networking sites like Orkut still garnering more usage than Facebook. Reports estimated Facebook’s 2009 revenues to be close to $1 billion. For Facebook to have an objective of becoming larger than that, the next big step has to be streamlining its advertising offers to clients.For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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