Bringing in $1 Billion Profits – Facebook Style
According to InsideFacebook.com , a popular Facebook blog, the favored social media platform is in the black to the tune of $700 million and on track toward a whopping $1.1 billion revenue for 2010.
Facebook is reluctant to divulge such privileged information which is typical of a private venture. But the growing trends from a mere $150 million seen in revenues for 2007 have almost doubled every year. The rising graph is expected to continue, making Facebook in the multi-billion dollar range over the next few years.
With the bulk of its income from advertising, it hopes to tip the scale once again with these successful trends. Landing advertising from big brands like Microsoft and virtual goods and social games, such as Farmville, Facebook continues to bring in the revenue and draws in people successfully.
There has been some speculation that Facebook will be getting a ‘face’lift and dipping its toes into a new income stream, the payment service business. Rather than siding with a payment service such as PayPal, credit purchases may be able to be made through a new Facebook payment option. With its over 400 million users, Facebook reaches many eyeballs and their associated pocket books. It will be interesting to see the evolution of this social media revolution.
The results should be obvious. If they aren’t, then there is something amiss with your strategy. Ask others for input or solicit the help of a social media expert. There is opportunity for every kind of business to benefit from social media. You simply need to find the strategy that works for you.