“This morning, there are more than one billion people using Facebook actively each month.” – Mark Zuckerberg
And so it has come to pass. Facebook has hit the big one – 1 billion active users. Quite and achievement for a website that started life as a way for university students to rate whether other students were hot-or-not.
The hope for Zuckerberg and Co would be that this news placates the naysayers and plants the seeds of recovery for it’s devalued stock.
However, there have also been some interesting moves made by Facebook recently that reinforce its position of making money. One such move is the expansion of its controversial ‘Promoted Posts’ feature that lets users pay to get their posts more visibility in the news feed. It costs the user $7 per post with the hope it’ll be used for garage sales, parties, wedding photos and other important announcements.
It’s suggested that this fee is pure profit for Facebook which could see them double their advertising revenue.
But what about the user experience? Many, including myself, have found Facebook to be overwhelming with its advertising. So why would we want to be subjected to more ‘advertising’ from our friends?
And what about traditional, brand advertisers? With low fee’s such as $7, brands may start to question the worth of their advertising on Facebook and ask for new, reduced rate card prices.
Facebook’s danger is of becoming so swamped by advertising that it eventually puts off both users and advertisers. The internet doesn’t need another MySpace.
What do you think? Is Facebook in danger of becoming an advertising only platform? Would you use ‘Promoted Tweets’ and if so what for? Tweet us your thoughts: @Honey_Digital