Date post: | 01-Sep-2014 |
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Business |
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Presenter:Sneha BiswasManish PrasadMahesh Makhijani
Presented to :Prof. bibhas
INTRODUCTION
Founded by Mark Zuckerburg in 2004
It focused on helping users connect and share information
Facebook developed Facebook platform
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Revenue was estimated to be $4.27 billion in 2011
90% of revenue expected to come from advertising
Facebook faced many challenges
History of social networking sitesSocial networking sites allowed
users to construct personal profiles , view profiles of others
and communicate with each other
Online social networks had become leading internet
destinations
First Modern online social network , six degrees , was
founded in 1997
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Two years later new company Friendster rolled out a new social
networking site
Attracted as many as seven million users
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2003 , Chris Dewolfe and Tom Anderson launched Myspace
Emerged as the market leader
Minimum membership age at 13
Facebook early yearsFebruary 2004, Mark
Zuckerberg and two of his roommates built the earliest
version of Facebook
It was similar to other social network sites
People already have their friends , acquaintances and
business connections
Created trust amongst everyone
continueWithin a month three quarters
students had registered
Facebook spread rapidly across college campus
It was serving about 30 college networks and 1,50,000 users
Site was expanded to more than 800 college networks in U.S.
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In 2005 Facebook added photo sharing features
which allowed the company to sign up 5.5 million users by the end
of 2005
News feedSeptember 2006 , Facebook introduced news feed a timeline on the Facebook homepage that displayed the recent activities
Changed to include a feature called the mini-feed , displayed the recent
activities
News and mini-feed as Violations of some users privacy
Four months , the launch of feed features the average minutes on
Facebook increased by nearly 30%
Open registration
Facebook had only 40% of Myspace
unique visitors
Facebook open its registration to
include work places
competitors
Why do people use Facebook? Facebook offers us that virtual sense of belonging.
Facebook meets two basic social needs: (1) the need to belong and (2) the need for self-presentation. Females and ethnic minorities tended to use Facebook more
than males.
Facebook can serve as a support system for those people in collectivist cultures, who have frequent interactions and a close circle of Facebook friends.
continue Chatting
Sharing feelings and emotions because they get connected to those friends to whom they cant meet in their day to day life or their close friends
upload pictures and sharing of old memories
Update status
Deliver their message to their friends, relatives etc.
Success of advertising on Facebook
2007 Facebook announced its own advertising initiative, Facebook Ads
continue Advertisers could target their campaigns on the basis of
gender , age , geographical location etc.
On basis of that Facebook recommend prices
Ads then to Facebook for approval
Relevance: This ad was served on the Facebook homepage of a recent college grad. What better time for a vacation?!
Value Proposition: In a world of social reviews, what better way to determine the perfect vacation destination than by viewing recommendations from friends
Relevance: This ad was shown to an online marketer in their mid-20s, so the targeting could be a bit tighter perhaps by additionally targeting phone interests, but Samsung seems to be casting a wider net with this ad
Value Proposition: There is a great value proposition here, as not only will Samsung take your old phone off your hands for you, but they will also give you $300 toward the purchase of a new phone
Success of Facebook fan pages
Networking with other platforms
Creating a resource
Creating contests that include participation
Empowering pre-existing pages
Targeting the proper demographic
Facebook platforms
Facebook announced Facebook platform which enabled third party to develop applications inside the Facebook environment
Three months after the launch of Facebook platform over 3000 applications had been released
Reached 11 million people by end of 2007
Application boom , help Facebook build greater user engagement
Zynga followed up farm Ville and several other hits in December 2010
Facebook for websites Second generation platform called Facebook for websites
Sites used at least three different types of functionalities in Facebook for websites
Third party sites obtain significant amount of data on users who logged on using their Facebook credentials
The development of Facebook for websites did not go unnoticed by facebook's biggest competitor which announced its competing program Myspace ID