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Facebook’s population is likely to exceed 500 million by June. But what will this mean for your business?

Fresh from the blogosphere, chatter today reached Anthill that Facebook is likely to reach 500 million users by June.

In early February, Facebook announced that it had 400 million users and All Facebook‘s Nick O’Neill is now predicting that the company should near the 600 million user mark and surpass $1 billion in annualised revenue by the end of the year.

This is undeniably a remarkable achievement when you consider that Facebook was proud to boast 175 million users just over a year ago.

In fact, if you stop and think about it, if Facebook were a country, it would now be among the top three most populated.

  1. People’s Republic of China: 1,337,570,000
  2. India: 1,180,968,000 (May 18, 2010 )
  3. Facebook: 500,000,000 (June, 2010)
  4. United States: 309,295,000 (July 2009)
  5. Indonesia: 231,369,500

Of course, a hefty database is no guarantee of success. Digital media punters still hypothesise about the revenue potential of Twitter four years after its launch.

And there are also the reasonably frequent collapses of other enormous online communities to refer to, like the rapid exodus of Friendster, made infamous by this Onion video clip.

And has anyone visited their Second Life lately?

But the growth of Facebook is evidence of something more than a fad. It signals a trend that is likely to affect most, if not all, businesses.

Facebook overtakes Google

Last month, Facebook, among its growing list of achievements, overtook Google as the most visited website in North America. This means that more Americans visited their Facebook profile (or that of another) than they searched for an item using Google’s search pages.

This suggests an important trend. And it’s a trend that will undoubtedly have an impact on your business (including anyone with the responsibility of marketing a business, which means every employee in most sectors).

Whereas most of us have spent many hours making our websites and online businesses ‘findable’, it’s becoming equally if not more important to make these same extensions of our brands ‘sharable’.

Further, the need to provide exceptional service and exceed expectations has never been more fearsome. (Yes, this need is worth fearing.)

And here’s why.

Most of us (anyone over 25) was raised to view marketing as something similar to an announcement. A company would develop a message and then loudly deliver it through whatever media was available, from billboards to radio to television.

The emphasis was on being ‘heard’.

The next evolution will also be familiar to many (including many professional marketers who have yet to embrace digital media).

This involves a concerted effort to be ‘found’.

This traditionally has involved perhaps erecting a sign outside a business or purchasing an advertisement in the Yellow Pages. More recently, the focus of this strategy has shifted toward being found in search engines such as Google. A disproportionate amount of information has been published on this topic (and Anthill is no exception).

It’s the third evolution that is already starting to cause all the angst, made progressively obvious by the rise of social media sites like Facebook.

The third evolution of marketing

We all understand that word-of-mouth is good (if nice things are being said) and every smart business has, since the dawn of commerce, sought ways to propagate WOM.

But never before have businesses been able to empower their customers to do marketing for them, on their behalf, to the extent now possible due to the social web.

In other words, businesses are now able to help satisfied customers to share their views.

So, as modern marketers (including business owners and employees), we are now endowed with three obvious tools for getting our message across:

  1. MEGAPHONE MARKETING
  2. FOCUSSING ON BECOMING ‘FINDABLE’
  3. HAVING THE CHUTZPAH TO MAKE OUR WORLDS ‘SHARABLE’

Obviously, most businesses should now aspire to apply each tactic (as appropriate).

However, as we have said before, the greatest marketing shift facing most businesses (and consumers) is no longer an evolution from ‘megaphone marketing’ to ‘search’.

It is an evolution from search as the basis for finding knowledge to one where recommendations rule.

Today Facebook. Tomorrow the world!

Facebook’s incredible growth should not be interpreted as a play at world domination.

It should be perceived as a signal – an warning to businesses that consumer behaviours are shifting.

Ask yourself, why should your future customers look for your products in Google when they can now simply refer to the ‘like’ and ‘dislikes’ of someone with similar needs and tastes?

The new world order is not one governed by one company’s controversial privacy settings or another’s ever-changing search algorithms (although these factors make up the landscape).

It is not one where a new set of new media barons rule with impunity (because, if history has taught us anything, regimes were made to be overthrown).

It is a place where people announce. It is a place where people search.

But, most importantly, it’s now also where people turn to their friends and ask.

Successful marketers of the future will be found and seen, rather than heard.

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  • http://www.bravocharlie.tv Bravo Charlie TV

    Agreed, great article. Psst your Like button is erroring. I saw 2 guys who did an improv rap of 'big booty' something yesterday, hit 3.3 million views and they are on a self funded record deal from fans, go figure. I'm having an FB like error on a new site right now too, I think its the fb app side :)

    [Reply]

  • http://www.bravocharlie.tv Bravo Charlie TV

    Agreed, great article. Psst your Like button is erroring. I saw 2 guys who did an improv rap of 'big booty' something yesterday, hit 3.3 million views and they are on a self funded record deal from fans, go figure. I'm having an FB like error on a new site right now too, I think its the fb app side :)

    [Reply]

  • http://www.bravocharlie.tv Bravo Charlie TV

    Agreed, great article. Psst your Like button is erroring. I saw 2 guys who did an improv rap of 'big booty' something yesterday, hit 3.3 million views and they are on a self funded record deal from fans, go figure. I'm having an FB like error on a new site right now too, I think its the fb app side :)

    [Reply]

  • irenedawson1

    Great article! I've used Facebook as a tool to help me with my job hunt and have found great sites such as UbiqueApps Jobs (http://www.ubiqueapps.com/jobs) which has given me a great advantage that I would have never come across otherwise

    [Reply]

  • http://theticketbrokerguide.com/ Ricardo

    Another option to make money from home :Ticket broker, This business it´s easy, because exist a guide to show her how buy and sell tickets successfully… Source: The Ticket Broker Guide

    [Reply]

  • http://speddos.com W Spedding

    I am not too sure about all of this, someone who has the potential to service such a market, viz the old mail order business, or the retail giants, would find such a potential market worth persuing, however, this trend does not help a business that sells from a fixed shop front or a business that sells a service, like a motor mechanic or a washing machine parts and service business, or even a coffee shop, where the market is a fixed goegraphical area and the business person delivers the service to the customer. What good would having acess to x million people overseas have? Or the next state? There would be a very small few customers infuenced by facebook indeed. I see the trend on facebook as being the unemployed youth as the majority, all of whom do not have the disposable income to spend. I have seen the facebook of our teenage children, most migtrate to msn to say something significant. Online games are popular. But the above 25's use facebook to keep in contact with family members. Maybe it is just me – I do not respond to advertising shoved at me and those sponsored ads down the side of the facebook page I find very annoying as it cuts down the screen size of what I really want to look at.
    I google if I need something

    [Reply]

    James Tuckerman - Anthill Mag Reply:

    Here's a scenario worth considering…

    My local burger shop has its own Facebook Fan Page. It invites customers to join while they wait for their burgers. For nights that it knows will be slow, it sends out a 'Free fries with any burger purchase' offer in advance. That way, even quiet nights can be improved. This suburban burger joint has built its own database and a dedicated local community. This community also talks among itself (ie Status update: About to get a burger at XYX… Mmmmmm!), which naturally has the effect of introducing other potential customers to the business.

    Very cool, huh!

    [Reply]

  • http://twitter.com/pmac pmac

    Trust is a big thing, (with me at least). I'm not sure a Facebook account or recommendation thereon bestows sufficient trust? Not sure what does?

    [Reply]

  • http://twitter.com/pmac pmac

    Trust is a big thing, (with me at least). I'm not sure a Facebook account or recommendation thereon bestows sufficient trust? Not sure what does?

    [Reply]

  • http://www.ergoflex.com.au Matthew White

    Amazing stats.
    The fact that a local burger shop has fan page is incredible. Fair play to them.
    Facebook is not for everyone, Google will still exist but FB can not be ignored especially given it's diverse age profile which often amazes many.

    [Reply]

  • http://www.dmozo.org/ Premium Links Directory

    I agree with most of what you said. However, I differ on two points.

    [Reply]

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