Facebook now has one
billion users every month. If it was country it would have been the third most populous in the world. The company says that those billion users were to
date responsible for 1.13 trillion "likes", 219 billion photos and 17
billion location check-ins. How has it affected our lives?
On an average, I spend almost around 30 minutes on Facebook every
day. I access it both on PC and on my smart phone. Since 2008, on a
conservative estimate, I might have spent around 3000 hours doing something or
the other on Facebook. Being in the
profession of media and communications, at one point, my job required me to
engage only with social media tools. While at University in Scotland I actively
used Facebook for recreation, heated debates and intellectual stimulation.
This is just me. Most of you who might be reading this could
be spending (unknowingly) a similar amount of time on Facebook. Depending upon the purpose you are using Facebook
(and other social media tools) for you might say: ‘that’s really an awful
amount of time – I just didn’t realise it.'
Many of us also suffer from Facebook syndrome. How many times have you sat in front of
computer just to type facebook.com even when you didn’t want to visit the site?
And what do you have to say when you hear that riot police in Netherlands were
forced to break up crowds at a teenager’s 16th birthday party after 3,000
people turned up because she left the Facebook event invitation open!
In a nutshell, Facebook is a part and parcel of our life. Appealing
to people of all age groups, Facebook not only serves as an interactive one-stop
platform that enables someone to share messages and photos with their friends;
it is also becoming a powerful media tool for citizen journalism, allowing
people to express their opinions on a scale that has been unprecedented in
human history.
During the Egyptian revolution in 2011, Wael Ghonim, the Egyptian-born Google
marketing executive, who first played a role in organising the opposition
through Facebook, told the American audiences that without Facebook and(
Twitter) their revolution ‘would never have happened.’
For businesses and brands, Facebook enables them to directly
get in touch with their core customers. It helps them to create communities,
and brands such as Starbucks have more than 300,000 people following or liking
them. Whilst some see Facebook as an
informal way to reach key buyers, others see it as their prime marketing tool. Brands
today are increasing creating their Facebook page, and luring people to ‘like’ their
pages to create brand loyalty.
Probably, in the years to come, Facebook can go beyond just
being a social media tool.
It might want to integrate host of media platforms under one umbrella (which
it already does to an extent) and charge subscription rates for its services. Facebook can make available premium on-demand media
content at very negligible price given its reach and ability create buzz.On the other hand, it might want the companies to pay an access
charge to its billion plus users. It is often noticed that consumers are more
convinced about a brand when they hear or see it on Facebook.
Facebook needs to have a business model where it can charge
businesses for hosting their pages, and work more innovatively to penetrate in to
the new emerging markets. Facebook has a massive data about each user.
Without violating the privacy regulations, it can take permission from the
users to display content or links of things that the user is interested in.
A McKinsey report on mobile –internet revolution points out
that more than 70 percent of India’s urban consumers already
spend about $1 a month on content and services through offline, unorganized
retail channels—a market estimated to be worth more than $4 billion annually. Much
of India’s young population loves to download videos and music, but not everyone is affluent or well educated. Due to their illiteracy or poor English they might not necessarily have the
luxury of using an interactive tool. Facebook might want to pop out of the
computer screens and develop tools that are easy to access and use. It might
also contribute to areas like e-learning and beyond.
Over the years, Facebook has been offering the same things
with a bit of tweaks. The core strength of Facebook are
its users, who patronise it and love it. Facebook has created a virtual (and
largely a utopian) country. It is about time it lays the strong foundation to that country so that it can sustain itself in long run - it needs to
offer us something new and more meaningful.