Now this is what I call as sheer geniuses at work simply because I dont quite understand the closed eco-system in which such tremendous traction can exists and sounds more like an oxymoron. “Closed Eco System In An Open Environment”
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Lets go back and figure out how things have been in the past and what was that one big formula that helped Google become a giant that it is today?
While every network including a Yahoo, MS, AOL, Lycos etc were focussed on building properties to ensure the audience in their network stayed with them a silent giant was about to be born and it’s belief was to capture the entire www through various of it’s products. It built some and it acquired some. The ones of significant that captured the world was the ad-sense product where with the help of contextual mapping algorithms Google deployed the largest web in the www to ensure that it covered every audience around the world and addressed business needs for advertisers. People in other networks woke up and decided to get going in the space that suddenly looked so lucrative, most of them failed but Google woke up to become a 800Kg Gorilla in no time.
Time went by and there was this guy by name Mark who was building what would turn the entire fundamentals upside down, why fundamentals because Google had show cased how it can monetize off network audience and inventory thus by making the entire world take notice but here was one guy who was producing the most dynamic weapon in an owned and operated landscape thus by defying all rules of the game.
The traction went up so much that today it is over 500M in population and if FB was a country I think it is the third largest after China and India.
With such traction and with simple philosophy of Social Media was created some of the most amazing products and integration that included pictures, videos, relationship statuses, power to express, connect with people for various reasons including business, play games and above all make a world a smaller place. Now in such a situation, imagine the power it would have if some of the 500M users could get monetized, even if it is by 1 Dollar a month, it could go up to 500M USD a month, that is like massive revenues. Recently they announced the launch of their email service, with such affinity that consumers have, I am super sure that it is a matter of time before they topple Gmail off, its that consumer affinity that makes the big difference and they are capitalizing on the same with some very fierce products and services, which are highly engaging and consumer facing in nature.
I know of brands who are positioning themselves as Social Gaming Sites or Social Conversational Sites or even Social Networking Sites but what Facebook has done is a full circle encapsulating the need in a manner that remains in the social environment thus by holistically addressing Social Media as space.
I recently read that they are talking to multiple vendors (Delta Airlines, JC Penny to name a few as quoted by Business Week) for launching their ecommerce services. Imagine what they could influence through their social search and like buttons through POVs of real consumers for a thrust that will eventually lead someone to buying a product and if that number is in 500M users as base then you can imagine the kind of traction they will have in a matter of just a year or two. It humongous to say the least on the gold mine they are sitting. The power of consumer reviews in a social format with likes and social search will make this the biggest possible monster on the internet atleast for a decade before something else comes up to topple FB.
As of now, HaIl ThE eMpErOr.
Ram is the Founder, CEO & Managing Director at Networkplay Media Pvt Ltd.Ram has over 14 yrs of media sales, marketing & general mgmt experience in both traditional and new media having worked with organizations like Indian Express, Media2india (Microland Group Company), Encore Events, Jobsahead.com (Now a Monster Worldwide Company), Madison and Tribal DDB India, before he joined Yahoo India where he was responsible for business of over 10 Million USD annually. In February 2010 Ram won the Star Youth Achiever Of The Year & Innovative Start-Up Of The Year Awards, In 2006 won Several Golds @ Asia Pacific Advertising Festival & was also nominated to Cannes Cyber Lion Awards and in 04 won the Ideas Man Award @ Jobsahead. Currently he also a Board Member & Patron at CMO Asia and Event Chairman at ad:tech India.