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Facebook Marketplace Monetization – Social Networking

April 19, 2010 By 16 Comments

Facebook continually grows on a constant basis with all the additions to their services. Most recently introducing the Facebook Marketplace, where users can bid and post jobs.  From Facebook credits to paid advertising, Facebook has really found a way to monetize their enormously successful social networking website. As a leader and the largest social networking website, they continue to grow past anyone’s wildest beliefs.

As of lately, Facebook revenue has surpasses one billion dollars and continues to grow. A few times in 2009 and already in 2010, Facebook has surpassed Google in traffic. This is the first time Google has dropped in traffic in many years! The main reason for the record setting traffic is that Facebook users continually want to check their profile, whereas Google searchers only use the site when needed. That means users log-into Facebook multiple times a day.

Recently, Facebook introduced their Marketplace. Here users can post ads for any and everything from used skateboards to SEO consulting services. With so many ads currently being posted, Craig’s List may have something to worry about. It is also difficult to distinguish themselves from other ads, especially with your profile being displayed to the users bidding on your project. You may really want to rethink your privacy policy on Facebook or clean up your profile removing any incriminating and embarrassing photos, wall updates, comments, etc. The best use for the Facebook Marketplace is to maintain relationships with existing and past clients, not picking up new clients, unless you have a second professional Facebook account that you can use.

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  • http://www.completecarpetcare.com carpet cleaners bellevue

    It is amazing how big Facebook is getting. It doesn’t look like it will be long before they are dominating the internet. When they really get the monetizing figured out they’re going to be the 800 pound gorilla of the internet.

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    Great Blog I am Certified to your blog Because I have Searched and visited blog contents are Unique. if your blog were not post unique so I would not post my comment.

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  • http://www.goodpuma.com puma

    When they really get the monetizing figured out they’re going to be the 800 pound gorilla of the internet.

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  • http://mayweather-versus-mosley.blogspot.com/ Jeff Hyper

    Facebook have a lot of social games. they give fun for their user…and I used also for putting ads of my site.

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    I am an addicted to facebook. I love to play poker on it all my free time. That is also a great and famous social networking site as well as it is good for the advertisement.

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  • http://www.sendmoneytochina.org Michelle

    I think it’s a lot harder for Facebook. Whose model do they want to copy? Look at some of the other great platforms. Ebay had it “easy” in a sense – taking a transaction as an auction house is a well-worn model. Cracking this nut will be much harder. And potentially much more lucrative.

    Michelle

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  • http://ashleynbaxter.com Ashley Baxter

    I’ve used Facebook Marketplace a few times and usually do not have good experiences. Although having multiple Facebook profiles is illegal via their tos, they continue to increase transparency which makes some people feel that they need too separate themselves from their profession.

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  • http://www.maltabulb.com Malta Holidays

    It does look like Facebook will dominate the Internet in the near future! … who’d have thought that! Not me, that’s for sure lol

    I remember when I first opened a Facebook account on recommendation from a friend just to stay in touch, I just thought “What a waste of time this is, with all those silly games, quizzes and stuff” … clearly I was wrong lol

    I guess what most businesses are missing is a clear strategy of how to make the most of Facebook.

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    nice blog facebook rank 2.

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  • http://www.4myroof.com Amy

    I have always thought that Facebook was holding back on traditional display ad revenue because they didn’t want to ‘piss off’ their users, like I think MySpace has with prominant ads throughout the site. If you ask Facebook users about the ads on the site many of them will say “ads? what ads.” Ask a MySpace user the same question and your answer will be very different.

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  • http://www.workplacediaries.com Amanda

    Facebook has indeed changed the way we all do business. Although lots of marketing campaign gets lost in the volume of posts being sent out, its still very effective if you factor in the millions of audience you have access to. I will like to see an effective tool that will let me determine how effective my facebook marketing is or will be.

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    Facebook has seen collosal growth. It has left all rivals like MySpace and Bebo in it’s path. In fact there is a film out at the moment that makes for interesting viewing (in an obviously Hollywoodised manner). Nonetheless it shows and portrays the dramatic rise and growth in the biggest social networking website around. Just like Google and YouTube there are many dollars to be made via the huge volumes in traffic that pass through these sites each day.

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    found your site on del.icio.us today and really liked it.. i bookmarked it and will be back to check it out some more later

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    Thanks for your post. I recently go into Facebook marketing and it’s really a great place to network. However, I find that for some niches, search engines are more effective than Facebook because people are searching for the products that they are interested in. Any opinions?

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  • http://www.ipad-2-review.com iPad 2 Review

    Yeah…I think Facebook will be number 1 in time to come. Anyway, I think Google will implement social media comments and views in their systems as well..so Facebook is the way to go!

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