Wednesday, March 11, 2015

Facebook steps into the "marketing consulting" game

For long Twitter has been the oil field for many Big-Data companies to mine customer feedbacks on products. Using people’s tweets and their connection map, marketers can not only get realistic and prompt responses on their products and services, but also assess the impact of such comment in the social network by assessing the role of the poster. Businesses have been benefited greatly from such services, and looks like Facebook is not going to let Twitter alone have the whole pie. 

As one of the dominating social network of the world, people on facebook share tons of information about products and services actively. Compared to Twitter, since the network itself is more private comparatively, people are more likely to share their true opinions about things. Moreover, the social relationships have a better representation on facebook as well. We might be following a lot of celebrities on twitter, but most of us by no mean would be friends with them. This allow facebook to have a greater power in assessing the opinions and how they impact the real world consumption, thus naturally put them in the marketing consulting chair. In this week’s WSJ report , Twitter said it generated $47 million from “data licensing and other revenue” during the fourth quarter of 2014, and Facebook has the potential to surpass that. Apparently this is a lucrative chair to sit in.

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