When looking into buying into Facebook a corporate suitor would know that Facebook holds the biggest market share in the social media marketplace. Facebook has 100 billion online hits per day, has 500 million active users, 50 billion photos, and stores 130 TB of log info every day. Facebook has perfected advertising for companies since it allows these companies to not only create pages that will allow people to stay connected to the advertising company, but also it allows the company to directly interact with its target market. For example, a small clothing company creates a Facebook page; on this page people that recognize the brand will follow the company. This allows the company to see who is on the page and the demographics of the people that are on the page. In turn allowing the small clothing company to market exclusively to its target market.
The strengths of Facebook are the number of users, company awareness, the company’s global reach, and that Facebook is the market leader in social media. Facebook has 500 million active users allowing advertisers to reach more people at the same time than ever before. Facebook not only is the market leader in social media, but they are also constantly innovating and changing things for the users. The 500 million users allow the Facebook brand to be seen globally, attracting new and consistent advertisers.
The main weakness of Facebook is that they have no customer service for users. Facebook relies on the FAQ’s to answer all users questions. If users cannot find the answer to a question they are left to turn to other users for answers. Facebook also lacks a video chat feature that would entice users to remain
Facebook’s strengths lie in its vast user base, global presence, brand awareness, and market leadership in the social media industry. With 500 million active users, Facebook offers advertisers an unparalleled opportunity to reach a large audience simultaneously. This extensive user base not only allows for effective advertising but also enhances the visibility of the Facebook brand on a global scale, attracting both new and consistent advertisers.
Furthermore, Facebook’s position as the market leader in social media is reinforced by its continuous innovation and ability to adapt to changing user needs. By consistently introducing new features and improving existing ones, Facebook remains at the forefront of social media platforms, ensuring its relevance and appeal to users.
However, despite these strengths, Facebook does have some weaknesses that impact user experience. One significant weakness is the absence of dedicated customer service for users. Instead, Facebook relies on frequently asked questions (FAQs) to address user queries. While FAQs can provide some guidance, users who cannot find answers to their questions may feel frustrated and left to seek assistance from other users, potentially leading to a less satisfactory user experience.
Another weakness of Facebook is the lack of a video chat feature. While Facebook offers various communication options, such as messaging and voice calls, the absence of a video chat feature limits the platform’s ability to compete with other social media platforms that offer this functionality. By not providing video chat, Facebook may miss out on attracting and retaining users who value face-to-face communication.
In conclusion, Facebook’s strengths lie in its vast user base, global reach, brand awareness, and market leadership. However, the absence of dedicated customer service and the lack of a video chat feature are weaknesses that can impact user satisfaction and potentially hinder Facebook’s ability to compete with other social media platforms.