Facebook SWOT Analysis
Facebook, created in 2004, was intended to be used as a version of online directory of students of the Harvard University, but with time it expanded to different other universities and colleges, and eventually it also was a touch-point for international students. Finally, Facebook expanded and became available globally to every user who was at the age of 13+. The site currently has around 500 million active users.
• One of the top and leading social networking sites.
• It has a renowned name as a social networking website.
• Ranked as 2nd in Top 500 sites (2010).
• One of the fastest evolving and adopted website.
• It has more than 500 active users on its site, and contains around 900 million objects that the users interact with.
• Creates a virtual social network for the user that involves him at a personal level.
• The latest clean layout makes it more user-friendly and the user can easily and quickly see the profile of friends with a single click.
• The tabs make it more user friendly and easier to access and browse.
• Translated in more than 70 languages.
• The integrated Wall and minifeed feature is also a major reason for the likeability by its users.
• The main element that Facebook features and commends is that it realizes the real relations, and takes life to the next level of virtual reality.
• Sharing is very easy regarding the website; friends can easily share and comments on photos, that also makes up for the fun element.
• Privacy options also includes the restriction and total control over one’s own profile page, as to who can access what content; it gives a secure feeling regarding the user.
• Features that make blogging easier and fun and the user never get to leave Facebook, which provides high time for the user.
• Notes feature has been regarded as a nice feature that doesn’t clutter like the other social networking sites, friends can tag in order to make them realize about the note and comment, and poetries or notices can be easily notified, the events also has a major impacts.
• Leverage of assets has a large tendency regarding the site.
• Communication level and expertise is highly appreciative and highly involves high impact.
• Innovation is yet another element that Facebook gets involved in.
• The growth of Facebook has had tremendous impact on the internet industry, and it is known as the fastest growing social-networking site.
• Customers loyalty level is very high, due to the excellent alignment of Facebook that is almost according to the preference of its users.
• Leader in the industry regarding the market share.
• Management team is very strong with high adaptability regarding the technology.
• The financial position is very strong.
• The unique features make it a stand-alone product in the market with less competition.
• It has the notion of creating different communities in the internet world and acts as a hub, it also derives individualistic approach in the social networking.
• The users are quite addictive to Facebook due to the factor of being less clutter and people seek social integrity and integration and Facebook offers features that regard almost all the elements.
• Applications also regarded as a means of entertainment in Facebook, and it also features games where friends compete with each other and that make it more.
• Features chat, in which groups are formed and the users in the group can also get involved in a private chat with exclusively with its members.
• Wall posts by friends also make up as a semi instant messaging feature and it also provides a feeling of realistically being attached to the other user.
• Regardless of the complexities in its mechanism of operations, the usage ability of a novice user is highly credible and anyone can easily start using and knowing facebook on day one.
• It offers a platform for different people and share ideas, applications, and get conversations.
• Has partnered a lot of application developers and 3rd party applications. Many companies regard Facebook as a major touch-point for their business such as the online gaming business and reached at a whole new level due to Facebook features.
•Marketing is also a major revenue generator regarding Facebook, as the overall communication and marketing of Facebook regarding other businesses is high and attention is high as well without making the user suffer which happens in most of the sites due to the high level of advertising and clutter.
• Facebook has created such a space for itself in the internet industry that the competition is looking up on it, and the tremendous growth has given into its profitability and its adaptability.
• Due to the innovative steps changing in the look of Facebook, there are many liabilities regarding its use such as the bugs and problems that the users face in operating the website.
• The user gets an alien feeling as proper feedback is not being provided to him/her regarding his/her problem, mostly there are FAQs and options to choose from.
• Initially, Facebook had to face a lot of problems, specially when people easily deleted things and post on their profile.
• Customization is quite hard, and is almost annoying for most of the users as they want to look unique regarding their profile but are forced to use a uniform profile. Many applications made by the user are hard to find due to the boxes option which hides most of the things to create less clusters.
• The flash animation banners are quite distracting, and need to be positioned in such a ways that it does not get in the way of the user.
• Adding application on Facebook is quite a feat, and spamming friends to add the same application as well.
• The consistency of the applications and games and the experience held by the users hold importance but due to the high level of required space volume required to make the millions of people happy at the same time, Facebook has to be careful as to how to manage such operations.
• A lot of time is wasted when the user keeps on searching for the right application on Facebook and finds it after a lot of time wastage.
• Too many irrelevant and useless applications.
• The semi instant messaging service regarding the wall posts is not quite the same real-time instant messaging.
• There are still lots of opportunities for Facebook, the users specially can relate and share important information to their friends, business partners. they can easily create business partners.
• Facebook pages are easier to find and join, and the future possibilities of these pages are vast as the many organization has made a Page that acts as a introductory phase for the organization, and the advertising impact will be an opportunistic approach in reaching the target customers globally.
• Facebook has a wide use of collecting user data through polls and survey regarding different services for different businesses and collect valuable data that can be useful for different businesses before investing in any area.
• Regarding the popularity and the influence that Facebook holds on its customers, it has the opportunity to drive the people’s lives in a whole new direction. The users will be getting inter-connected without any variable expense of high cost, and can instantly derive meaning in the communication.
• Expansion in the international market and the flexibility of initiating the cultural aspect of the other countries will surely be a positive and more welcome approach.
• Facebook has room for innovation, and can regard more services that touch the social networking.
• They should invest in technology and provide feedback information regarding its users as there are also businesses operating in the Facebook community.
• Facebook can include services regarding program developments, navigational framework, financial structure, and also targeting specifications.
• Applications will be highly reputable if the structure and platform is strong and reliable with powerful marketing to reach its customers.
• To work in such a way that the long-term credibility is increased as well as the reputation of Facebook, i-e developing programs and engaging in hosting programs that will compete with high level program developers. But Facebook should mostly engage in developing online programs that can be used in sync with the user and their friends.
• Facebook offers an opportunity to make money regarding services that would touch up the customers and their small amount of transactions to their partners or friends.
• Can also be used a p2p portal where people can engage in any buy and sell approach, but the exchange and distribution channel should be invested upon, and it is valuable for Facebook in the future, or it can partner with companies like Amazon, eBay or Apple.
• The mobile engagement for Facebook has brought about a lot of significant changes in the lives of the users, as they can stay connected with their friends without being disconnected with their work or routine.
• Facebook privacy settings are time and again disrupted that made it leak millions of private photos of people over the internet, it is advisable that facebook should tight the security measures and devise such techniques that will not understate the privacy of the user.
• Spamming has become an issue due to the mini feed and wall merging, the more friends the user has, the more spammed will be the Feed, and the user will disregard in it and will engage only a selective or will not engage at all due to over-information.
• The major social-networking sites as well as the top popular sites on the web are actively taking measures to get a hold of Facebook.
• The configuration of different options in Facebook is quite time consuming, and most of the users who do not have sufficient knowledge will have their privacy being exploited.
• The applications and programs mature quickly and the users get bored quite easily after some attempts at using the applications. Most of the applications have a one-time usage and hence boring.
• The younger generation is quite vital for the exploitation of the full potential of Facebook, losing their interest will mean a crack-down.
• The digital trend that needs to be followed, and Facebook seeking its identity through communities and individuals of many cultures and specially the teenagers will take a high step at what will be able enough for it to get in the world of the internet. They must foresee the attractive sections regarding the users and get more engaging in customer feedback.