Facebook has become the biggest and largest social online “hang out”. With it’s it launch in 2004 to Harvard University, its growth and success has been unprecedented. And it’s not for college kids anymore. Everyone has jumped on the bandwagon, much to the college kids dismay!
Why is this relevant to business? Through the incredible growth of Facebook across all genders, ages and nationalities Facebook has developed the largest social graph on the web. It has mapped buying habits, socializing habits, brand preferences and more. With this data brands can now engage with their clients and prospects on a much more personal and intimate level deepening the relationship and giving their corporate identity a personality.
Here’s why it is important to business:
500,000,000 active daily users.
48% of them are 18-34 years old.
700 Billion minutes per month are spent on Facebook.
Targeted ads to the exact demographic.