A story about the founders of the social-networking website, Facebook was portrayed in a movie Directed by David Fincher and released September 24, 2010 (USA). Mark Zuckerberg is unquestionably a successful individual due to the incredibly significant technological innovations he kick started for Facebook.
Many of us forget that the only reason we have Facebook is because a girl from Boston University broke his heart after he called her out on the lack of intelligence.. He immediately went on to create Facemash [the Facebook’s predecessor, opened on October 28, 2003.], which objectifies and diminishes the value of hot girls by comparing them based on their looks.
Facebook has just posted its earnings for the quarter that ended March 31, 2013. Facebook hit $1.46 billion in revenue up 38% from Q1 2012, beating Wall Street estimates of sales of $1.44 billion. Facebook reported earnings of $1.06 billion for the same quarter a year ago. Earnings per shared missed estimates, staying flat at $0.12 (analysts had expected earnings per share of $0.13.
This might not be the best lessons to be learned from Facebook, Its just some ideas evolved into my mind and wanted to share…
Keep it simple //
The statement that simplicity is the ultimate sophistication is correct, Facebook have been developed with a developer mindset. No designers was involved and till now it keeps its white clean look.
The first version of the “thefacebook” was very simple. It did one thing well. Then Zuckerberg and the Facebook team improved it over time. And, each time, they made sure that the service was still easy to use.
Change The Game Rule //
While launching a new project you should avoid the competition and try to create your target market niche. Facebook was established first to attract Harvard students and it was meant to serve people who have email address at Harvard [firstname.lastname@example.org] and soon it expanded to target Stanford students. But! in the launch phase it meant to create as a communication channel between Harvard communities and other [specifically girls who want to date Harvard students] to experience meeting students from the world-renowned faculty.
Give it another thought ! This made it an exclusive community and instead of pushing with ads. The Facebook attracted people who would like to join the most reputable university world wide community. This is a zero cost Ads technique but yet! developing such model would be high cost in spending time to develop innovative ideas.
The lesson learned here is not to join the game as a new player, While you can develop a new game rules !
Know your Power Point //
When Facebook finished a deal to acquire mobile photo sharing app Instagram for approximately $1 billion in cash and stock. It was not just an indicator that Mobile apps is the future, But! also it was reinforcement for the unique power point of Facebook… PHOTOS !
In a very competitive market where Facebook, Twitter, LinkedIn and Google Plus have the battle on, Its important not just to develop the best user experience by capturing features from others and integrate it with your systems functionalists, But! also keep reinforcing your Power Points is a critical factor to survive.
Facebook guys didn’t forget to integrate some features from Twitter like the news feeder But! in the first place they made sure they have the superiority in the main competitive edge they have !
Instagram has now shared more than 5 billion photos and such content would have been one of the main reasons why Facebook have considered Instagram. Till now there is no clear model how to monetize the huge photo content or, how Facebook would re-gain the invested $1 billion. But! I think its how Mark Zuckerberg plans on getting you even more addicted to Facebook !
Think Like a Customer //
A Winning Strategy to maximize your marketing revenues should include deep understanding and influencing How and Why your customers buy. Customers today expect an imaginative, high-quality experience.
By understanding your buy persona, you can customize your product to an impactful approach that will lead to an efficient marketing plan.
Facebook understood what the customers / site users are seeking for and developed a new tricks might be very simple but yet meaningful.
Play The Game //
I started writing this article after I watched The Social Network movie for the second time last week, All I recall now is Mark Zuckerberg reaction to expand when his ex-girl friend made fun on his new website, I am yet inspired by the passion of keeping developing in a project without setting objectives, no marketing plan, no advisory board !
He just built a cool product quickly and launched it. And Facebook was born …
Focus on the long term; You might be surrounded by some people who don’t believe in your abilities to achieve success, Ignore them.It’s just noise.