Economics of Facebook

Economics of Facebook



Introduction

Facebook is a social networking website which was launched in 2004. Today, there are around 850 million users worldwide. It allows anyone with an account to create their profile and to publish information for which visibility is controlled by the Facebook to others. The use of this network extends from the simple sharing of private information (through photographs, links, text, etc.) to the constitution of pages and groups to make known institutions, companies or various causes. All the information published on these two media, unlike the profile, can be accessed by any user without the need to open an account (with the notable exception of the names of members who are partially obscured in this case). Facebook provide a number of features which grasps customer's attention (Dan, 2008). Privacy settings is one such feature which ensures that any personal information, contacts, pictures, video and even search results remain intact. Providing personal information over the internet is one of the most critical concerns of social networkers, and Facebook with its remarkable feature and settings makes non customers to potential customers. In this paper we will discuss this topic along with other facilities which multiplies Facebook members in number.

Business Model

A marketing campaign for Facebook is increasingly used by most businesses: social networks are a powerful real forum for the dissemination of information, exchange, and advertising, where it becomes easy to make its mark and its projects. You are the only actor of your paper and your image, since Internet now takes care of for you. By registering on Facebook, people create a broad list of contacts with which they interact, share their project, their brand and their events, advertise cheaply, and look for partners or customers. Is the reference tool for relationship marketing relevant, since they have the opportunity to attract a targeted audience through the creation of a business page while generating a buzz and influential communication. A marketing campaign for Facebook is the key to the success of social marketing.

Business Strategy

Expand Network of Friends

An integrated search engine allows people to find any profiles of friends and colleagues enrolled, and view their profiles. You can then decide to add them to your contact list, that Facebook calls friends or "friends." They actually will be added once they have approved your request. To enlarge your circle of friends, you can also use the "Find Friends using ...