The single thing Facebook has not thought out yet is how to utilize their fantastic product to make the most money, constantly and on a continuous basis – i. e. finding the right business model. A really intriguing topic to write my initial blog about, because, i think, finding the right business model for Facebook cannot be accomplished using conventional thinking, like, solely taking a look at Google and their search engine advertising revenue, for example. Facebook . com is unique, so you need to find unique solutions. Actually, there is not one single best business structure for this site, rather several potential earnings streams from very different sources. It is not only “how do we generate revenue”, but evenly important “when can we start with which one”. This could sound strange now, but it will get clear, when reading this. Summarized, it is actually taking your assets and those that have made you successful in the first place and finding new ways to use them effectively. Facebook rating
Business Network as well as Business Profile
I considering this since beginning of February. Wouldn’t it be great, if you’d only have to login once and have your private and professional network in one view, although purely separated from each other, depending on your adjustments? Wouldn’t it also be great for companies to have a business network with about 7 times more users than LinkedIn, that may offer people having every kind of skills and experience imaginable as well as offering any sort of services and products among their 500 million users? Wouldn’t it be great for Facebook to be able to enter companies blocking the site to date, creating new streams of ad and other earnings from recruitment companies while others? But most importantly, Organization Network market leaders LinkedIn and Xing charge their users, meaning Facebook would have a total legitimate circumstance to do so as well for their business network users. This means, that the important, and psychological, hurdle of asking end-users can be conquer via a sideway, as they say, without having to expect a substantial backlash or a mass exodus of users. Of course, they can only learn to charge the lively business network users, but when the door is open once… needless to say, this has the greatest potential impact on the bottom line of Facebook or myspace.
All this would happen, if Facebook offered a Business Network, too. This kind of is not even a huge undertaking for them really, just leveraging their existing functionality.
It can be set-up rather easily via computerized transfer of the existing (fitting) data of the user single profiles into their new professional profiles, giving you the choice to opt-in into this service and let them enter more business-related data to be able to activate their professional profile (which also means more key data available within Facebook). The professional profile can be, electronic. g. on an individual tab right next to the private one or perhaps as another wall and info page next to the key profile, enabling it to be within the Facebook site, but with the opportunity to completely block the private section, when accessed from certain locations, while also allowing the user to keep both profiles and their connections separated via particular privacy settings. To increase rapidly, at least in the beginning the service should be offered for free. Advertisements can show up to help offset portion of the starting and initial running costs. Existing Facebook functionality should be incorporated, examples are, the news feed with real-time updates, posting pictures (e. g. from corporate and business events), the Like button, the possibility to easily post relevant news, etc., permitting the user to the actual same things they enjoy on the cultural network also in a business environment and in a simple and already known way. This would associated with Facebook Organization Network extra alive than the mostly static existing ones, allowing users to be passive or effective, enjoying ever-changing new content, keeping them on the site, the same as it’s taking place on the present social network. At the same time, the previously mentioned benefits for Facebook are gigantic, while the development time and costs for this are comparatively small as already proven and existing layout and functionality can be used. I believe, if set up properly, the other existing professional systems will be marginalized within about 9-12 months following the launch (depending on the roll-out plan), just like the other existing cultural networks.