10 years after its creation in a Harvard University dorm room, Mark Zuckerberg’s $160-billion empire, Facebook is still the most powerful destination on the web. The social network has been made into a movie and boasts over 1.26 billion users worldwide. All individual people with real names, unique interests and levels of influence, which makes it extremely valuable to marketers.

After 10 Years of Facebook

The New “Big Blue”

  • Evolved from a dating site for Ivy League students
  • Was one of the first 500 downloadable apps in Apple’s app store
  • Acquired Instagram, an intelligent move since it snuffed out strong competition and jumped on the photo-sharing bandwagon
  • Took 3.5 years to reach 50 million users, in comparison the telephone took 75 yrs, radio 38 yrs, TV 13 yrs, internet 4 yrs
  • More time is spent on Facebook than on search engines or email
  • More than 68% of buying decisions are influenced by friends on Facebook
  • 1.13 trillion likes have occurred since its launch
  • 76% of Facebook users login once a day

The Next 10 Years on Facebook

  • Facebook will have to evolve to remain timely and intriguing to its colorful palette of audiences
  • Its members today range from teens to grandparents – 45% of internet users that are 65 or older use Facebook
  • Facebook’s reach extends North American borders, in countries like India and Brazil there is still bandwidth for a massive amount of Facebook user growth
  • migration from desktop to smartphones, tablets, and even wearable technology is expected to continue.
  • Facebook is predicted to behave like a media company, releasing more and more apps under the Facebook brand to meet market demand
  • Facebook will have to shed its “social network” identity and expand its services to become a large media player, like Amazon, Apple, or Fox
  • A media-centric identity could provide a production arm with insight into niche audiences within their members like those created by Netflix’s ‘House of Cards’ or ‘Orange is the New Black’

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