Facebook marketplace and its future…
A Social Networking Platform
True, we do love Facebook. But what exactly is it about the platform that makes us love it?
Facebook is one of the most common networking and popular social media platforms today. Founded by Harvard student Mark Zuckerberg on February 4th, 2004, Facebook was initially created to enhance communication amongst Harvard students. However, the platform grew in popularity in the next two years, as local colleges and universities started using it. Following this were the likes of Google, Microsoft, and Apple, and in 2006, Facebook was finally released to everyone.
The social media platform has a variety of uses, both individually and commercially. Facebook has changed society from traditional communication and networking channels. Primarily, Facebook is used for social networking and connecting between friends and relatives. Through these connections, users can share their life moments online through visual media such as pictures and videos. Through Facebook, users can also message each other through its child app, Facebook Messenger.
Facebook’s annual revenue was $55.84 bn by 2018. This revenue is from it being a brilliant platform for thriving businesses. As of 2019, 90 million operated companies on Facebook. Enterprises are hunting for potential customers on the platform and have reaped the fruit of their hunt. On the eCommerce platform, Facebook has done nothing but thrived well on it. The newly-created Facebook Marketplace has hosted over 100 million sales worldwide. On this platform, users can sell off their stuff quickly at negotiable prices.
As of December 2019, Facebook registered 2.5 billion users to its name, making it the most popular social media platform today. It is used by people of all ages. The minimum age requirement allowed for one to independently own a Facebook account is 13.
The following table summarizes Facebook’s demographics to date as of February 2020.
|51%||American teenagers who use Facebook. (Source)|
|71% (52%)||American Adults who use Facebook. (Those who rely on Facebook for news.)|
|74%||Facebook users that log in daily, high-income earners that use Facebook.|
|10.1% (47.8%, 15%)||Facebook users from both the US and Canada combined. (Joint profits produced by both countries, the number of online US shoppers that comprise the profits.)|
|46%||Seniors on Facebook.|
|75% (63%)||Women in the US use Facebook. (Men in the US that use Facebook.)|
|40% (75%)||Women on Facebook who create meaningful groups. (Number of Facebook fundraisers created by women.)|
|88%||The number of users who prefer to log into Facebook via mobile than other means|
|5%||Facebook accounts reported as fake. (116 million)|
|12%||Users who have taken a break from Facebook in the last 12 months.|
Source: Facebook Demographics.
Here are some other random facts about Facebook.
|1||The most searched query on Google.|
|3||The most visited Website after Google and YouTube.|
|5||The most downloaded app after Messenger, Snapchat, YouTube, and Instagram.|
|13||The average number of posts a Facebook user likes per month.|
|38||The average number of minutes spent by a user per day.|
|50%||The Facebook users that speak another language other than English.|
|300 million||Users that use Facebook Stories per day.|
|1.4 billion (10 million)||Number of Facebook users in the (number of groups.)|
Source: Facebook Statistics
Facebook Experiencing Setbacks
In recent years, however, Facebook has undergone negative setbacks and mishaps. One of the more recent setbacks occurred in March 2018 during the Cambridge Analytica Scandal. The British-based analysis firm breached personal data of approximately 87 million users. The data from these users were then collected to influence the US elections outcome. CEO Mark Zuckerberg had come out to publicly apologize about the error and declared that measures would be implemented. Still, that alibi was not enough to convince the online Facebooking world, with much more skeptical to date.
The Cambridge Analytica scandal decreased Facebook’s popularity amongst its users. It has kept everyone on toes, especially marketers, whose income sources thrive on the platform.
Other cons of Facebook include cyberbullying and trolls, hate and radical speech, and sharing explicit content. These activities are against the site’s terms and policy, and its intent of usage. Therefore, if not dealt with, then Facebook would witness decreasing numbers of its users.
Facebook has proved to be likable in recent years due to a lot of its features. It is relatively free and straightforward to set up a profile, which should not take longer than five minutes.
Keeping in Touch
Furthermore, users can continuously keep in touch with each other through the comment section. Continually commenting on others’ posts keeps the discussion amongst friends lively and going. For businesses, Facebook has helped a lot in advertising and spreading online sales. Constant interactions between the buyers and sellers help explain what is trending on the market. That way, both parties can know how to access these commodities through the site.
Apart from the usual, there are some must-know features of Facebook that its users should know. For instance, Facebook Messenger allows friends to swiftly send money to each other. All its users can safely make their online transactions while Facebook’s cybersecurity experts prevent potential cyber theft. Another anonymous feature about Facebook is its Facebook 360 and 3D Photo. The new 3D photo feature creates a new way to share pictures in a more fun and lively manner in a 3-dimensional perspective. On the other hand, Facebook 360 allows users to create panorama images of their surroundings and share them on their profiles.
Another anonymous Facebook feature is its Game Room. Through this feature, users pass the time by playing games, competing with one another, or helping each other in different sports.
FB Social media platform is a top website and app with a vast number of attractive features that attract more users than before daily. These features are what keep users glued to their screens as they scroll through their feed.
The Facebook “Like” feature is the most prominent feature the site has had. It is hard to go by talking about Facebook without thinking of the “Like” in it. In fact, online marketers strongly suggest using Facebook as an off-page SEO strategy.
The Like feature was added to Facebook on February 9th, 2009 by software programmer and entrepreneur, Justin Rosenstein. Primarily, the like button shows that the user’s friends like the content as it appeals to them. Once clicked, the user is notified that so-and-so likes his/ her post. The user can also check to see how many friends appreciated the content.
In 2014, there was a public Q-and-A that was introduced, asking whether or not to add the “Dislike” button. CEO Mark Zuckerberg stated that he had no intention to add the “Dislike” button. However, he pledged that sooner, users could show emotion to a post after his team remodified the like button. From this idea, the “Reactions” were born, back on February 24th, 2016. These reactions include “Love,” “Haha,” “Wow,” “Sad,” and “Angry.” Today, not only are these reactions used on posts, but also in the comment section too. That way, users can react to comment more accurately in the way it appeals to them.
The “Like” feature is also essential to businesses. When people like a business (or its products), the company can holistically assess their audience. The market can analyze who likes their products or what it is about their enticing products. Competition amongst premises is also enhanced by Facebook Likes. With businesses trying to compete with each other for the same audience, they gauge each other using their likes. The more likes a company has, the more of an advantage it has in seeking out prospective customers.
However, there has been an uproar in recent years concerning the intent of likes. As perceived by many, Likes distinguish the reputation of a person, brand of personality. This can often lead to social stigma, especially since the number of likes equals someone’s worth. Also, the overblown importance of likes has led to the creation of illegitimate like-selling companies. Millions of fake accounts have been created from which uncalled-for likes come from. These anonymous have altered Facebook’s advertising algorithms in determining which brand has real likes. As of May, there have been a reported 170 million fake accounts, from which the counterfeit likes stem from.
Since its inception, Facebook Stories has been one of the more recent standout features of the app.
Launched by Connor Hayes, Facebook Stories is similar to the news feed, only more visual and less wordy. This is probably a reason why users have fallen for the feature launched on March 28th, 2017. All a user needs are his/her phone camera and the effects and filters of the app. One can take pictures and selfies using the camera and modify them using the app’s filters and after-effects. These settings are simple and don’t cost much data consumption, especially for videos.
Liked by 300 million users, Facebook stories are used by friends, groups, and also through individuals by Direct Sharing. It is restoring the intimacy and connection among friends with more meaningful and original content.
Facebook Stories has a few shares of its cons too. One of them is that it is temporary. By temporary, the stories only stay for 24 hours before they disappear. Also, stories might not work for introverts. It ghosts them by circling their profile with a grey circle, with an alternate text, “This user hasn’t shared a story yet.” Also, the stories are only accessible to online users, so those who aren’t online can’t view it.
As Facebook’s “child,” Messenger has reputably grown into a reputational subsect of its parent. Not only did it relieve Facebook of instant messaging, but it has also revolutionized the texting and messaging industry as well.
Originally called “Facebook Chat” in 2008, Facebook Messenger was officially released on August 9th, 2011. Unlike on the Facebook webpage, Messenger had many more new functions that could be performed to ease communication. For instance, users can now send messages and multimedia such as pictures, videos, or even documents to each other. Just like Facebook, Messenger has its Likes and Reactions. On this platform, however, one can react to messages (s)he likes and replies to them.
Messenger also allows the user to create bots. These bots have been programmed by Facebook developers and are scheduled to occasionally deliver updates. Such updates include the news, weather forecast, sports, and even games, and can be best utilized in a Messenger group. Messenger also has voice and video-calling enabled. This is essential in that it saves the users time leaving the app and trying to navigate to the phone’s contacts. To gamers, Messenger has proved to be a helping aid to their gaming. While playing games, players can use Messenger to message each other to ask for help in different parts of their games.
The good thing about Messenger is that it is open to the general public. One may decide to access it in two ways; through your Facebook account or one’s phone number. Thanks to Messenger, people can now communicate easier off of Facebook. Users also have the choice to set preferences for Messenger as their default messaging app.
These are some of the features that have made Facebook a regular pastime today. They compliment each other uniquely, unlike other social media platforms. Facebook developers will be working on the app’s features and enhancing user privacy. For the next few decades, we’ll still be hearing of Facebook dominating social media platforms.
The Future of the Facebook Portal
Looking at the present state of Facebook
Facebook has been the face of social media for a long time now. While the concept of social media is still relatively new, we have already seen sites come and go in popularity. The one that has seemed to buck this trend and keep the tops spot for the past 10 years has been Facebook. While the rise of social media did coincide with the rise of Facebook, sites like Myspace reigned supreme before Facebook took control. But this past year has been tough for Facebook. They made numerous headlines for a multitude of reasons, mainly how they handle user’s data. Even with the negative attention it received, the user base that Facebook enjoys remains above its competition.
The control that Facebook has over the social media market is unlike anything else. With over 2 billion users Facebook remains at the top, with YouTube, Instagram, and WhatsApp all falling between 1 and 2 billion users. But of those sites with over a billion users, all of them but YouTube are controlled by Facebook. This means that the biggest competition that Facebook has to lose its top spot, could be itself. So far, Facebook has done a good job positioning itself as the king of social media.
During this year headlines were filled week after week with new stories about Facebook. With public attention being brought towards how they handle user’s data, and Mark Zuckerberg testifying in front of congress. Facebook has lost a bit of its ground as the top social media platform because of this recent negative attention. In 2018 we saw user numbers start to decline, and we saw one horrible day on the stock market where Facebook’s stock fell by almost 20%. With so much negative attention being drawn to the selling of user data, people have been less inclined to engage on Facebook. Will Facebook improvise, and find new ways to succeed in the future, or could we all be watching the fall of a giant. We will look at what the future will hold for Facebook.
Facebook’s Plan for Their Future
Earlier this year, Mark Zuckerberg wrote a blog post about where he sees the future of Facebook heading. The overall message was that privacy needs to be its top priority, which is the issue that has driven away so many of its users lately. After all the new stories that came out in the past year, it seems to only make sense that their new focus would be increased privacy because a lack of privacy put them in their current position. Facebook as a company doesn’t have the trust of the public. Now, before anyone makes a new post or message, they must think twice about the information they share. That kind of thinking isn’t what the average user of a social media platform wants. They just want a way to connect with friends and family, without thinking they should trade privacy to do so.
With the current lack of privacy being the biggest issue between Facebook regaining some of the faith that it’s lost in the past year, we can see why that was the main topic to Zuckerberg’s post. Every issue that he addressed were ways they could increase their privacy across all their platforms, with encryption being their main topic. Zuckerberg brought up the need for end-to-end encryption multiple times in his blog post. This focus on increased privacy is a step in the right direction, but it’s how much and how quickly this vision gets implemented that will affect Facebook’s longevity. While in the past they have made small steps towards increasing privacy, like the implementation of private messaging, there is still more they could do.
While increased privacy measures across their platform is a good sign that we can see a more secure Facebook. But it also raises the question of why they are just now addressing these problems. All the security issues that have negatively affect Facebook in the past year are issues they could have been proactive, instead of reactive. They stressed a need for encryption in their messaging, a system they have already implemented into WhatsApp, but have yet to include for Facebook. Their reluctance to implement privacy standards in the past can lead to a bleak view on how they will be realistically implemented in the future.
Zuckerberg not only laid out plans to increase encryption, which I think would be of huge benefit to Facebook but also talked about another implementation that could be bright in their future. A keyword that is mentioned often in Zuckerberg’s blog post is Interoperability, or the ability to communicate between all of Facebook’s platforms. In the blog post, there were multiple mentions of ways to pick a preferred form of messaging and use that platform to communicate with anyone on any platform. There was even a mention of the ability to use SMS messaging to communicate to anyone using their platform, which could go a long way in making Facebook and its platforms a preferred platform for communication. Even with this plan to implement seamless communication, encryption and privacy will be the keys to its success.
After you read through Zuckerberg’s blog post, it paints a picture of a positive future for Facebook. With the peace of mind of knowing that your communication will be secured and private, I think they have laid out the foundation for being the preferred communication platform in the US and possibly across the globe. But their biggest issue could be how quickly and how much of this vision is implemented. While a platform with end-to-end seamless communication would surely succeed today, but that platform isn’t ready today. It remains to be seen if Facebook will still have the market share it does if it’s five years into the future when all these ideas are finally rolled out. If Facebook wants to remain as a giant in the social media market, these ideas are a good start, but the timeliness of their implementation is what’s most important.
What Will Be the Future of Facebook?
We have seen Facebook lose something that its incredibly valuable to any company, and that is the trust of the public. If Facebook wants to continue being the social media giant that it is today, regaining the public’s trust should be priority number one. While I mentioned earlier that Facebook believes that privacy is what’s most important for its future, they could be either right or wrong about this. While increasing in privacy is exactly what the public wants, and at this point, it could be the only thing that will bring back some of its old user bases, it can also hurt its revenue stream.
By being a free platform, Facebook must make its money somewhere, and the only valuable commodity that they offer is data and ad space. While there has been a lot of talk on their side about increased privacy and encryption, this could mean less access to data, and less revenue for them. This puts Facebook in a tough spot moving forward, any attempt that it makes to increase its privacy and bring back users, could mean that it will lose a part of its main source of revenue. While it remains a large platform, and the ad space it can sell on its page should be a steady form of revenue on its own will that is enough to satisfy investors that value increasing profit over everything. These are the most important questions that Facebook must answer as it moves towards the future.
Zuckerberg also wrote, how the FaceBook plan’s to handle data. Multiple times he mentions that they need to stop holding data, and at one point even mentions that some metadata could be helpful for less time as well. At the same time, he also mentions that some data will still need to be collected and analyzed in order for their security team to continue to do their job. This is a fine line that Facebook plans to walk, holding on to some data in a way that they view will keep them, and their users secure. This could be one of the larger hurdles that they will need to overcome as they move forward but being honest about some data still being analyzed is a step in the right direction. Differentiating between using your data for profit and using your data for security is something that Facebook will need to embrace more as it moves forward.
While we could see a dip in the amount of data they collect, the continuation of the news platform should keep revenue from falling too much. While people have been rightfully worried about some of the practices that Facebook used to collect their data, it will still be a public platform with a lot of information shared with the public. While Zuckerberg did say there were improvements that he would like to see to the news feed, it isn’t going away. Facebook will continue to be a public platform for sharing your experience and ideas, and that alone should keep the data and revenue flowing for years to come.
While most of these issues that have plagued Facebook over the past year are for the most part self-inflicted, it does seem that they are making the right moves for their future. While in the past we have seen that they aren’t as honest about their practices as we expected. This lack of honesty in the past also sets them up for much-improved communication in the future. As long as Zuckerberg continues to be upfront and honest about the intentions of his company, they can take steps towards being what they used to be. Along with honesty, we need to see follow through on their promises. Implementation of improved encryption, and private messaging platforms to go with the public set up that Facebook offers can lead to a better social media platform.
Overall, Facebook seems to be making all the right steps for its future. By acquiring and improving all the platforms they have, they will remain one of the main competitors in social media for years to come. If they can follow through on their plan to integrate communication between all platforms, with encryption, their future will be bright. As with any company, to the public, they have said all the right things and laid out a plan for a bright future. But, without follow-through, it remains a site that the public doesn’t trust and could leave itself open to being replaced by a platform that will give the public what it wants. Only time will tell what the real future of Facebook will be…
Reasons why not having social media can harm your business
“People will have no idea how awesome you are.”
You can instantly share customer reviews or advertise new exciting products. Additionally, with a portal like FaceBook, you can respond to requests quickly.
Since the vast majority of internet users also use social media the research indicates that the lack of social media makes it much more difficult to build a reputation and become an authority in your market.
The ability to create content for free and on a regular basis can be invaluable. Content marketing can include information on an exciting new program or a new product launch. Along the same line, the utilization of social media also allows you to keep an eye on your competition. If you are not taking the time to invest in social media resources to build a loyal community around your brand, chances are your competitor is.
Research shows that not having a social media presence can affect your bottom line. According to research, 46% of web users look to social media when making a purchase, 77% of business to consumer (B2C) companies have gotten customers from Facebook, and 70% of consumers trust brand recommendations from family and friends.
FaceBook is a Necessity when it comes to Digital Marketing
The term ‘Social Media’ is obviously the catchall for a group of more specific sites such as Facebook, Twitter, Instagram, snap chat, Pinterest, and many more.
Clearly, the effects of social media on businesses is huge and should be a top priority when it comes to digital marketing and customer service, the facts support it. The facts also show that as a consumer, using social media to interact with businesses and shop for their products is also vital. There is no other platform available in the physical world that could come close to matching the ability of social media to facilitate communication. In 2015 survey conducted by a social media research company showed that 96% of marketers polled used social media. 92% said the use of social media was important for their business. Most importantly, about 66% of the businesses polled planned on increasing the use of social media. Clearly, it is not going anywhere.
Social media is here to stay and those that choose to not use it, either in business or personally, are going to miss out. There is simply no other platform available that can compete with the instant gratification society yearns for. Remember, your competitor is out there building a community of loyal customers and those customers are tweeting, posting, and linking to billions of other potential customers and if you aren’t on the bandwagon, you will be left behind.
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Whether you’re looking for FaceBook social media, WordPress Development, or website maintenance? We can help! Our Facebook agency helps brand and drive traffic to your website.
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Our specialties are not only in web design but also in web development and online marketing. Yes, we are the full-blown agency with a one-stop service. Our web development services are not just limited to the Washington area but all over. From Bellevue, Tacoma, and all the way to LA, California, NY, London, Birmingham, UK, and Glyn Ebwy, Wales! Our UK web design services assist many businesses in Solihull, Birmingham, West Bromwich, and surrounding areas.
Web Agency with perfect solutions & great reviews
Our small business solutions are the perfect choice for any small to medium size business looking for results. Especially if you're looking to see your small business website grow via effective web design and online marketing. In fact, our Seattle, WA web design company has assisted many businesses in and around the Puget Sound area. But, we did not finish there, we've also helped businesses in Seattle, Issaquah, Bellevue, Tacoma, New York, and California. Let our expertise help your business expand and reach new heights!
Online Marketing, SEO services available to small businesses in:
Our tried and tested Small Business SEO Services help outrank competitor’s websites and drive more traffic. In fact, ignoring our leading Seattle SEO marketing services could result in you missing many online opportunities and allowing the freedom for your business to expand. Whether its SEO for a dentist or promoting an online event we have proven through many SEO case studies that we get it done!
If you want to succeed online and help your business’s current online standing then internet marketing is a necessity. More importantly, we can help pave the right path in making your website successful. Our SEO Agency is a top-rated marketing agency that can help your business reach new heights, and reach its maximum potential.
Also, our SEO agency’s innovative ideas, strategies, and solutions allow businesses to take the lead in their industries. From local Seattle SEO through to global presence, our custom tailor-fit solutions help businesses effectively compete. We can help your Seattle business reach that desired ranking on search results.
Following is a small list of cities where our renowned and best Seattle SEO services are available. We serve and help small businesses improve their online marketing presence via effective organic Seattle SEO and web solutions. Overall, our Seattle website SEO practices have helped many businesses gain the online exposure needed for them to attract traffic and generate sales.
Washington SEO, SEM & Marketing Agency available in:
Our web related services have delivered many solutions to small businesses in and around Seattle. Other local areas where our clients include: Algona | Auburn | Kent | Bellevue | New Castle | Bellingham | Factoria, Bellevue | Federal Way | Fife | Kent | Renton | Kirkland | Issaquah | Lakewood | Lynnwood | Mercer Island | Marysville | Mill Creek | Olympia | Redmond | Seattle | Tacoma | Kennewick | Gig Harbor | Vancouver
Our SEO packages and marketing solutions are affordable and geared towards small businesses. In particular, businesses in and around Seattle, Bellevue, Redmond, Snohomish, Tacoma, Kent, and Factoria Bellevue, WA continue to be our loyal customers. Our SEO company and web design firm do not just make a promise but, rather carry it out to succeed. Whether you are close to home in Seattle, or elsewhere.
Since the start of SEO, our SEO services and SEO marketers focus on organic SEO for small businesses like restaurants, distributors, professionals, doctors, dentists, and attorneys/call us for a free SEO estimate at (425)-336-0069.
Digital Marketing Services
Our digital marketing services are available in Washington and other states. Locally we assist small businesses in Puyallup, Gig Harbor, Olympia, Bellevue, Issaquah, Kirkland, Seattle, Vancouver, Tacoma, and surrounding areas.
Internet Marketing Services
Our internet marketing services coupled with web design and SEO will get your small business website to the top of your search engine. We focus on local as well as larger markets. All the way from Seattle, Olympia, Maple Valley, Kirkland, Bellevue, Tacoma, and states like Washington, California, and ones further out! We provide quality on-page SEO as well as off-page services. For example, helping to acquire customer reviews.
Organic SEO is the Perfect Solution
Yes, on-page SEO and off-page SEO services are the best way to get your website visible online. But, you need to hire an SEO agency or SEO expert that knows what they are doing. We at Visualwebz work within guidelines set by search engines and understand terms like LSIGraph and how to incorporate structured data into websites! In fact, our digital marketing strategies coupled with web design get positive results for our customers. Also, our SEO consultant services are not only local in Renton, Kent, Seattle, Ballard, Bellevue, or other areas. In fact, our reach is beyond Washington and the USA!
Online Marketing Services
Our online marketing services are not just limited to Seattle, Bellevue, Renton, Tacoma, or Bellingham. But we offer services to all businesses nationally and globally. Go ahead and contact one of the top digital marketing agencies near you. You'd only realize that the SEO services that they offer will be extremely costly and outside your budget. In fact, there are many SEO Companies to choose from but we ask you to check our reviews and decide why our customers chose us.
Visualwebz is not just a top Seattle web design agency but also recognized as a top advertising and marketing firm in Washington state.