Can Facebook continue its success story?
Can Facebook continue its success story? Facebook has changed everything since its inception and it has managed to dominate not only social media spectrum but also entire internet space. Orkut which was one the most popular social networking site when Facebook surfaced disappeared quite instantly. It’s still there but nowhere close to its previous success days. Similarly many other social networking sites faced similar fate.
Recently Facebook’s IPO went live and currently company’s worth is more than $100 billions. There are many companies which take years to reach one billion and here is a company which has crossed $100 billion mark in few years. It shows the kind of growth company had seen in last few years. Facebook has become the part of our life. Social networking is critical in today’s internet world & Facebook is synonymous with social networking. If an internet company is not successful in social media space then there are serious issues with the company. Acknowledging this fact, many internet companies are trying to get into and accelerate their social media sites.
Internet giant Google has also been experimenting with their social networking sites and their latest launch in this segment seems to be doing well. Google+ is fairly successful especially if you compare it to its previous social networking sites like Wave and Buzz. But it is easy for a company like Google to launch new products and grab eyeballs. Google still holds the key in search engine space and most of the people use it in some way or other. It has got other products which helps in creating a better relationship with its users like GMAIL, MAPS, Google Analytics, Google Webmaster, Google Adwords and Google Adsense.
Google has been more aggressive for Google+ and it is showing in the results. There are also other social networking sites like Twitter and Linkedin which are more like specialized social networking, therefore having no direct competition with Facebook and they are extremely successful in their niche. If we look at the trends in last 10 years, internet world is full of new startups which dominate it for a while and then disappears. Internet is flooded with new sites every day and some of them may become successful instantly.
Facebook is primarily a social networking site. There are additional stuffs like Fan page but broadly it is limited to social networking. So how easy or difficult it could get in future for Facebook to continue its success? As we know internet is growing day by day and social media is the way forward. There is no reason why no other company would enter this space and if there is consistent inflow in the segment, can Facebook maintain its position?
Facebook doesn’t have anything else to offer and if once a user goes to some other site for social networking need, it is going to be extremely difficult for Facebook to regain that customer. Companies like Google which have got larger product portfolio, are in a better position to thrive in the long term whereas companies like Facebook which might be extremely successful in a particular period, may have tough times in the long term. Please share your thoughts on it or preference on social networking.
About akhilendra
I think Jeff is either reatedrd or being paid. I keep reading a few higher profile bloggers write about how linkedin is no longer cool and how facebook is the new amazing place for business professionals and working people. I spent time looking at and critically examining facebook, their offer and the users who congregate there. I browsed about 70 profiles on facebook. Every single profile was of a 18-25 year old doing Jello shots of some chicks abs. I didn’t see a single professional profile or a person over 25ish. OK so no professionals here…why is this useful for professionals then? Then I looked at the applications and widgets available on facebook and all of them were for entertainment purposes (music, movies, jokes)…nothing for professionals so why is this useful for professionals?? I went to groups and saw more college age kids hooking up and socializing…no business or networking groups. I didn’t see any business or industry news or information and I could not find a way to be introduced to professionals in specific industries. PEOPLE – Either I have completely missed something or facebook is offering bloggers access to their IPO to pump up the site.What do you think is more likely? That an application built for college kids is more useful then other applications built for professionals or that there is a pump and dump scenario brewing?