What is the main purpose of the channel?
While the official purpose as stated by Mark Zuckerberg in the 2012 IPO (Initial Public Offering) is to “make the world more open and connected.” Many people use Facebook to connect with friends or family that is far away. It also can be used as a news source, gaming platform, and photo/content sharing channel.
What are their revenue streams? How do they make their money?
Facebook makes their money through suggested posts, advertisements, and other non-advertising sources (such as “currency” in games). Brands and businesses often pay Facebook to help them establish “likes.” Ford pays for likes and considers it a valuable cause because “People who “like” the Ford Motor Company page are more likely to advocate and drive that brand of car. Starbucks found in 2013 that 38% of profiles that “like” Starbucks reference (either in writing or in photo) their brand each month. Facebook caters to these companies by making a Facebook Client Counsel consisting of Nestle’s head of Marketing and Consumer Communications and other high-ranking professionals.
What type of advertising does this channel support?
Facebook paid advertising supports custom advertisements and content based advertisements that can be catered to your target audience demographic. Ads work best when you use all of Facebook analytic materials, setting a budget, and choosing a specific target audience. Ways to advertise without spending money are creating a business Facebook page.
What are the strengths of this channel?
Facebook is the largest social media platform in the world. There are 1.5 billion users. Facebook is the only one of their most near competitors (Twitter and Linked In) to earn a profit each quarter. Facebook has also been in front or on the curve with each new developing technology. Unlike some other platforms, nearly everyone can use Facebook without a negative connotation because it doesn’t have a “primary audience,” such as, LinkedIn (for business professionals), Pinterest (for women and artists), or Snapchat (for younger, more hip social media users).
What are the weaknesses of this channel?
There are a few weaknesses. For example, the average user on Facebook is less likely to click on an advertisement/sponsored content than the average user on YouTube, Twitter, or Pinterest. Also, some critics wonder if Facebook has reached its peak. These critics wonder if everyone who would get on has already gotten on. This can be a strength. With everyone in the world at your fingertips, it can be easy to reach a audience. Unless that audience has checked out of Facebook because Facebook is “boring” or for “old people.” Facebook is combating the young person mindset that Facebook is too old by creating more features and content that rival other social platforms.
What type of activity does this channel support?
This channel has adapted to include many forms of activity. There are text posts, photos, videos, live sharing, private messaging, forums, groups, and many other forms of communication that can take place on Facebook. Videos and photos have the most impact in terms of interactions. Facebook Live, a feature that involves live video streaming, has become a success for many small business owners, personal beauty consultants, and low-key celebrities. This can help people to connect on a more “real” level because there is no editing or way to cover up the imperfections of one’s life.
What is the best practice for advertising on this channel?
The best practice for advertising on this channel comes down to having goals that are specific. Never post an ad for the sake of posting an ad. Have objectives, use measuring tools, such as Facebook analytics, and be consistent.
What is the channel trying to accomplish with it’s design?
Facebook has a main color of dark blue. This color was chosen by Mark Zuckerberg when he was creating Facebook because it is the most common favorite color. The design of Facebook has evolved to become more and more updated. Allowing for more and more usage. Timeline’s were a new trend in the late 2000’s and allowed one to see all of their own posts. This was created to make Facebook a more adaptive and usable resource.
What metrics (likes, shares, re-tweets, etc.) will be used to determine if an advertising campaign is successful on this channel?
There are Facebook Analytics, likes, comments, shares and click-throughs. All of these tools help to measure the success of the channel.
What is the main demographic which utilizes that channel?
Everyone. Nearly everyone in the United States and most modern countries is on Facebook. While the official minimum age is 13, many of us are friends with or know a younger Facebook user. Facebook’s interface is easy to know and understand making it accessible to 1.5 billion people around the world.