Facebook Business Case – What Is online Social Network? – Course Note – Patrick Cheng
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Facebook Business Case – What Is online Social Network?
Chapter 13: FacebookWhat is Online Social Network?A place where people who share interests, activities, backgrounds, or real-life connections can interact with one anotherThe internet removes the geographic and time limitations of offline social networksBilateral Relationship: If you wanna communicate with one another, you need to get approval of other (Interaction between Users) (like Whatsapp)Unilateral: Follower (e.g. Twitter, Instagram for spreading message)Profiles, Friends Connection (can be bother bilateral or unilateral), Network Discovery, Favourites(Liking sth), Instant messaging, Discussion Groups, Games, widgets, apps, Storages (for storing fotos)Facebook History:Mark ZuckerbergAlexa rank No.3 (1st Google, 2nd Youtube, 3rd Facebook)Things You Do on FacebookSocial GamesPost (things you want to share): Text, Photo, VideoGet accessed to info (Stalking) 🡪 “Facebook Depression”Events organization/JoiningShopping/SellingValue Proposition:Reinforces and expands the real-world social connection of usersCreates an enormous opportunity for businesses to stay more connected to people and generate powerful word of mouthCompanies/Business as Facebook’s customerFacebook platform enables third-party developers to build applications on top of Facebook to attract users🡪 Many potential user on Facebook and Many user DataRevenue Composition:95% Advertising, 5% Payments & Other FeesFacebook Advertising – Display Ads: (on RHS of Facebook)[pic 1]Pay-per-click or Pay-per-Impression (as long as it posts the ad, have to pay to facebook)Based on Max Bidding Price, e.g. $300 instead of price per clickHow do Facebook Ads target users?Search Query/KeywordActivities: Search/click/view/like/post/shareDemographics: Age,  gendor, interests, locationsConnection: friends/ network 🡪 target your friends, or based on your friend target you** All the 3 above are the way to collect information and targetingFacebook Advertising –Company PagesAllows businesses, brands, products and public figures to create free Facebook pages and attract Facebook users to “like” themFacebook’s News Feed AlgorithmOnly a tiny proportion (5%-10%) of the content published by Pages that you “Like” actually reaches your News Feed (For company, only 5-10% of the content is shown)Facebook uses a machine learning algorithm that takes more than 100,000 factors into accounts to determine which articles should be displayed in a user’s news feedDetermine what kind of post to show to youA.k.a Edge Rank[pic 2][pic 3]Recency=Is it a new post? More recent 🡪 Higher rankingEdge Ranking: Only top rank contents will be shown to user 🡪 force user to payFacebook Advertising – Promoted PostsAllows the advertisers’ posts to be seen by more of their fans and even friends of those fans (fans=followers of the brand)Facebook Ads or Promoted Posts:Facebook Ads:Promoted Posts:Based on demographicsDoing advertisement based on follower’s actionTarget larger group, reach more audienceBest thing can do is reaching your follower, maybe friends of the followerGood if you want to raise brand awarenessIf you want to send some promotion or offer of your company
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By: Patrick Cheng
Submitted: May 2, 2019
Essay Length: 1,010 Words / 5 Pages
Paper type: Course Note Views: 120
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