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Sunday 1 August 2010

Facebook Entrepreneurship -How To Make Facebook Work For You

Facebook headquarters in downtown Palo Alto, C...Image via Wikipedia


Today we have an average number of 130 friends on Facebook and we seem to spend an awful amount of time in virtual communication
The staggering number reported is currently 8.5 billion hours and we are supported by almost 600,000 Facebook applications as at 1st August 2010 (growing fast)


 All of these facts and figures,has knocked the old leader back to the number 19 in the list of most visited websites, MySpace is no longer the most popular social networking site, and that is a situation that seems unlikely to change in the near future.


Now, all of the major community sites do emphasize that the main function is to provide a means for people from all over the world to network with each other.


It would therefore be fair to suggest that most of these sites have (as far as it is possible) tried to discourage commercially orientated sites and have done very well to control how it works.


The great thing is the network soon get fed up with being pitched all day on the next wonder widget and soon disconnect from those sending constant spam.


In other words we vote with our mouse, sites like MySpace and Facebook do not want their communities used by members promoting their products or services to other members. 


Despite the fact that it is owned by the Fox Corporation, even MySpace is no exception to this rule, and has gone to some lengths to prevent the site becoming a huge online auction or bazaar by another name.


PPC is a great way to target repeat visitors as we go back and back and back to our chosen site such as Facebook



 Facebook PPC isn't a "set it and forget it" medium. PPC basics still apply. Testing, monitoring, and reporting are crucial to achieving the best possible ROI.


Testing Is Crucial
Testing is possibly more critical in Facebook than in traditional PPC. In traditional PPC, intent is clear -- the mere fact that someone searched on a key phrase related to your business indicates a strong possibility that they're interested in what you have to offer.
Facebook, however, is a totally different animal. For one thing, users spend a huge amount of time on the site and seeing the right advert as needed is great and attracting the wrong guest could cost you money





Nevertheless, many smart online marketers and internet entrepreneurs have managed to promote their businesses, products and services through the communities, and have made considerable amounts of money doing so too.


This being the case, many marketers are looking at doing the same with Facebook, and therefore we need to establish what similarities and differences there are between these two sites.


This will assist in establishing whether a similar business model to the one that is now all too commonly applied to MySpace will work with Facebook.


So, let us take a very quick look at how products and services are marketed on MySpace.
Effectively, and at its very simplest and most basic, when you sign up for a MySpace account you will then build your own 'space' which is a very simple mini-website that tells the world all about you.


So, in this 'space', you would probably include full details about yourself, your interests and hobbies, perhaps pictures, videos, musical and rock band preferences, and so on.
The nature of the MySpace social network is that you are then expected to go out into the community and find new friends who have similar interests to yours.


Facebook is addictive and the new disease is called FAD Facebook Addiction Disorder which shows how popular marketing can be and even a summons can be legally served on  Facebook in Austrailia. Wow! That would be handy as in the UK as few scally wags owe me tens or hundreds of thousands after winning an injunction for an Internet against some thieves. They are in hiding and Facebook would be a great place to issue a summons as last time I had a Court Baliff running around the country as they pretended to have vanished!


Facebook does make an awfully high amount of money from advertising on Facebook and thee advertisers do well as the respondents can be highly targeted. Facebook need to make this amount of money as $100million is needed for the next batch of servers to handle all the capacity!

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