Facebook

The “Social Media” RevolutionPresentation by: Bill Wang & Eric Tse

Summary

1. Background

2. Target Market

3. Marketing Strategy

History

• Facebook was created by Havard undergrad Mark Zuckerberg and colleges in February 2004

• The company was incorporated in June and launched officially in 2006

Key Facts and Figures

• Over 500 million users worldwide

• Ranked as the 2nd most visited site on the internet and the 3rd most valuable web business after Google and Amazon

• Valued at $41,000,000,000

• Facebook receives 700 billion minutes of traffic by users per month

Features

Keeping in touch with old and new friends Find schoolmates using the search feature User groups to discuss with other with similar interests Keep track of your friends using the News feed

Keep friends informed about what you do Update your status Share blog posts, pictures and videos Promote an event you’re holding or attending

Access to applications for all purposes Interactive and fun applications Publish content (photos, videos, notes, etc.) Applications linked to other websites (Flickr, Twitter, etc.)

Retain your privacy Control what others see and read about your profile

How People Share Online

Source: AddToAny

User Activity • More than 500 million active • Average user spends more than 55 minutes per day on Facebook• 50% of active users log on to Facebook in any given day• 3 billion photos are uploaded to the site every month• 60 million statuses are updated each day

Target Market

Demographics and Physiographic

Demographics

Demographics• Age: people 15-24

• Gender: Both

• Family Life Cycle: Single, never married

• Ethnicity and Culture: Varies

Percentage of people who have a Facebook account

MarketingCharts.comData Source: Harris Poll, 2009

%

Physiographic

Psychographics• Religious beliefs: Varies• Tastes in Music: Popular genres • Lifestyle: Very social and outgoing• Attitudes towards Health: Self-conscious • Personality traits: Sociable

Facebook is not a product and therefore does not fit into all categories of the consumer profile

Marketing Strategies

Information Technology

Ethical Responsibility

Green Initiatives

Information Technology

• Applications– Open Source Development– Social Network Games

• Virtual Currency• In game advertising

– Mobile Device• mGiving

• Referral Advertising

• Pay Per Click Advertising

The Facebook Platform

Over 1 million developers and entrepreneurs from more than 180 countries

• 70% of users engage in over 500 000 active applications

• More than 80 000 websites implement Facebook Connect

Open Source Development

Activity Feed

Recommendations

Like Button

Mobile

• Over 100 million active users

• Twice as active than non-mobile users

• Mobile Apps

Mobile user interface

mGivingmGiving

Social Network GameSocial Network Game

Features

Community

No victory conditions

Virtual currency

In Game AdvertisingIn Game Advertising

Referral AdvertisingReferral Advertising

Pay Per Click AdvertisingPay Per Click Advertising

User Safety

• Personal Information

• Ethics– Privacy Protection– Anti-bullying

Green Initiatives

Energy efficient data center cooling

Green Blog

In conclusion

• Facebook is social utility for people to efficiently communicate with friends, family and coworkers

• Marketing Strategies include:– Information Technology;– Ethical Responsibility and; – Green Initiatives