FACEBOOK ISN’T ON THE INTERNET. IT IS THE INTERNET.
By Michael D’AntonioFacebook is no longer a free social network. In fact, it is neither free, nor a social network. It is – in effect – the internet. It has full broadcasting, e-commerce, and multiplatform capabilities. At least this is what the folks at FB believe, and the smart money says they are (or at least will be) right.
There are a few crucial factors in the Facebook (r)evolution. The first is that FB has figured out a paid advertising model that provides more relevancy and micro-targeting capabilities than Google.
Google is still an essentially transient platform. While they can cookie, retarget and BOT their traffic, Facebook is built holistically around user profile and user preferences. The essence of Facebook is personal. Intimate. The essence of Google is functional. Transient. If Facebook can monetize the personal – and they are – they are well positioned to ultimately win the mobile/digital ad race.
And if Facebook aspires to become Amazon, they just might do it. Again, their advantage lies in personalization and profile information. On Amazon, consumers may publish a review. On Facebook they publish their lives. This information is crucial in creating selling opportunities that are hyper-relevant to that consumer-publisher.
The model is simple. The consumer-publisher tells their friends (and Facebook) what they like, love and care about. Then Facebook serves them content featuring what they they like, love and care about. With a BUY NOW button. It is e-commerce built on a foundation of valuable, personal consumer data. A virtuous circle. A self fulfilling e-commerce prophecy.
Facebook is fast becoming a broadcaster. From Facebook Live to original programming, Facebook is becoming a bona broadcast destination. This is an emerging space for Facebook, but as the cultural zeitgeist pivots toward all that is LIVE, Facebook will surely use it massive audience and ever-growing database of personal preferences to reinvent what and how content is consumed.
Finally, in a mobile first world, Facebook wins the battle of the internet. For anecdotal evidence, all you have to do is peek at the person next to you in line at the grocery store who is staring at his or her Phone. There is a far greater chance that they are on their Facebook feed than trying to type a search term in their Google box.
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