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Social networking sites on society
The impact of social networking on the development of our society
Social networking sites on society
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Facebook has striking growth rate in the number of the users and the revenue. It mainly depends on the powerful Internet to build the large relationship network among friends. The increased mobile usage is the key contributor of the growth in the overall user base. Its daily active users has reached 483 million worldwide until the December 2011. The market value of the Facebook is about $15 billion based on its share sold to the Microsoft. Due to its increasing popularity and key position in the social media market, going public is an inevitable trend. The aims of the Facebook IPO are to create a public market for its existing shareholders and take a share of the public equity market. In view of the above-mentioned facts, people will have a great enthusiasm for Facebook IPO. However, the underwriters of Facebook has raised the price of per share higher than its intrinsic value to make more money. To avoid irrational purchase because of the eagerly pursuit, the CXTechnology should cautions for this investment.
First, advertising accounted for the majority of the revenue. It took up 99 percent of Facebook’s revenues in 2009, 95 percent in 2010 and 85 percent in 2011. The social connections and demographic information of users allowed the advertisers to have opportunities to segment and target these users. The requirement for users to reveal their authentic identities gave companies good opportunities to grasp their information and make money. Facebook created database according to the interests and hobbies of users by mapping the connections between users and their friends and recording the services and products they liked. Based on users’ interests and connections, advertisers could target customized products and
Facebook is the current leader in the trend of online segregation of face to face interaction between us and others. 84 million users are registered Facebook enablers. In 2010 Facebook generated $3.7 billion in revenue. Facebook has earned the title of being the first website to obtain 1 trillion page views in a month. Users are estimated to project 2.7 billion likes and comments every day, in the first three months of 2011.
For example, consumers identified as sports enthusiasts would be targeted with ads designed specifically for them, with unique URLs like “LIVEFORCLOSEENCOUNTERS.COM,” which invite them to a microsite created by Virginia Beach informing them of the city’s annual soccer tournament or marathon. (Spiller, 2012, 90)
Protalinski, E. (2013). Facebook passes 1.19 billion monthly active users, 874 million mobile users, and 728 million daily users Retrieved from: http://thenextweb.com/facebook/2013/10/30/facebook-passes-1-19-billion-monthly-active-users-874-million-mobile-users-728-million-daily-users/#!pZTpF
With social media websites being the main hub of personal information, advertisers are consistently monitoring our social media activity, having the ability to look into our personal information. In the article "Advertising and Consumer Privacy: Old Practices and New Challenges." by Justine Rapp states, “Fueled by advances in capabilities and interconnectedness of computer based technology, advertisers are able to collect and assimilate information on consumers like no other time history” (51). Facebook has become the number one, social media website around the globe. It is the most popular website used by personal and business users in today’s society. In the article “Using Social Media to Reach Consumers: A Content Analysis of Official Facebook Pages” by Amy Parsons states, “As of July 2011, the social network site Facebook claims to have over 750 million members and in the terms of activity.” (27), making it easy to meet and connect with others. Facebook is considered the “hot spot” for online social activity, however, it exposes personal information about its consumers to
Perhaps, people may already know our name and, if we are part of the same community, they could probably know what we do like. By looking at the last Facebook reports, the users of the popular social network became 1.15 billion in March 2013. After China and India, they represent the third largest country in the world. (The Facebook Blog) According to the inventor of Facebook, Mark Zuckerberg, the social platform is built by simple ideas which permits the world to be more open and connected. However, do we know how much access we permit to our personal information and thoughts? We should admit that since we joined Facebook we were never worried too much about privacy. But now, after many researches and articles came out people are beginning to look with greater interest on this issue. Moreover, privacy is the concept of being free from others’ intrusions, and it has changed relevantly through the advent of social networking. This paper, will in particular analyze how Facebook has influenced individuals and the contemporary society that has being exposed to an enormous number of information through the last years.
Originally, Facebook was started in 2003 by a man named Mark Zuckerburg in his college dorm room at Harvard University. It began as a social network for Harvard students and then quickly expanded to universities across America. Facebook as we know it today started in the year 2004 and now does not only include college students but ages ranging from teens to middle-aged individuals. The social network site has quickly developed into one of the most trafficked networking websites which runs thousands of databases. By building a network that has spread across various countries, Facebook has successfully created a form of technology that allows people to connect with friends across the seas with different cultures.
If a user often views things related to cooking for example, then Facebook will start making ads pop up for cookies, grocery stores, and other food related items. Even the advertising industry is breaching on user’s privacy. When someone goes shopping at the store, there is not someone stalking them writing down everything they look at on a pad of paper, and then suggesting related stores to him or her. That would be very suspicious. Now, with Facebook, the company sneakily violates user’s privacy while making them think it is smart technology and is beneficial. Psychologically, advertisers are becoming smarter into tricking their customers. Ad suggestions are more or less an invasion of privacy by the company
Facebook, being the world’s largest social networking site, it is in a danger zone. The privacy and security is biggest issue. Sharing personal information on Facebook is very danger as third parties are seeking information. Third parties collect the data from Facebook, which could easily lead to cybercrime. Users are not confident on sharing information and contents on Facebook. Facebook is required to spread the privacy and security awareness to the world. It should conduct the privacy programs to protect its users from being victim of cybercrime. Facebook information can be used for various purposes such as identity theft, advertisement or other negative intention. Facebook user should be connected real life identities only. User shouldn’t accept or send friend request to the unknown users.
Forbes estimated that in 2011, Facebook and its founder Mark Zuckerberg were worth an estimated 50 billion dollars as a result of its growing popularity. It went from a social network just for Harvard Student to a worldwide phenomenon. Twitter as well has famous celebrities and personalities who are followed by millions. Lady Gaga, Justin Bieber and Katy Perry are the top 3 most followed people on Twitter, with over 14 million people following them and updated on their every single move. Besides the elite list of celebrities and famous companies such as Google or The New York Times using social media sites as an outlet to gain customers, one of the main reasons it is so successful is its worldwide and global appeal. People from first and third world countries are aware of it, and statistics show that one in every nine people on Earth is on Facebook, and Twitter is adding up to 500,000 users each day. Search engine giant Google, perhaps the most famous name on the internet has started their own social networking experiment, Google+, which experts have predicted will also become a powerhouse.
The Internet has played a crucial role in the changes in the ad industry. Our society lives at a constant moving fast pace which the Internet accommodates. Through the Internet business have access to consumer information through their searches and are able to customize their ads towards a specific audience. An example consists of looking up cars on cars.com and later on going on amazon to buy something. Looking on the side while on amazon.com you would see ads from cars.com about the cars you were searching. Internet surfers can interact with ads in greater capability, which allows them to benefit directly from the ads personalized message. This is important for ad agencies to continue in the future. Studying the market in which people surf the web and providing specific ads that...
In this day and age, many individuals simply cannot go without some sort of socialization. Specifically speaking, most participate in online social networking sites. The most popular and used one is commonly known as Facebook. Facebook was created in 2004 by Mark Zuckerberg. By 2007, Facebook had over 21 million users, adding up to 1.6 billion page views every single day. The typical user spends over twenty minutes per day on Facebook and two thirds of the users log in every day at least once. It is not questionable as to why many people have a Facebook account. Facebook is generally efficient, easy for socialization, and not difficult to manage. Most organizations are affiliated with Facebook, as “almost 22,000 organizations had Facebook directories,” as of November 2006. A year after that in 2007, Facebook was named the seventh most popular website (Ellison 1). However, with anything well known, many oppose to using Facebook and hold criticism against the popular network. There are many flaws in the website and the relationships it starts online. Facebook is risking dangerous activities, ignoring privacy laws, and demeaning healthy socialization.
Social media avenues are a new, upcoming, and popular way to advertise for businesses and for people to connect to each other. Alexis Ohanian once said that "Being effective at social media, whether for business or personal use, means capturing people who have short attention spans. They 're only a click away from a picture of a funny cat, so you have to make your thing more compelling than that cat. And that can be a high bar." (Ohanian) Powerful usage of social media can have a big impact.
The Popularity of Social Networking Sites In recent years, social networking sites have rapidly gained popularity among people of all ages. A large number of people have registered and become members of some social networking sites, such as Facebook, Twitter, and WeChat. Also, people spend a lot of time on these sites chatting, playing games, and making friends. Social networking sites have become a part of people’s lives.
Facebook is a social networking service launched in February 2004, owned and operated by Facebook, Inc. As of September 2012, Facebook has over one billion active users, out of which 241 million users are from India alone which shows that Facebook has its highest number of users from India. Users must register before using the site, after which they may create a personal profile, add other users as friends, and exchange messages, including automatic notifications when they update their profile.
Mark Zuckerberg founded Facebook in 2004 and its sole purpose is to give people the power to share and connect with the world. With 1.23 billion monthly active members, Facebook has certainly surpassed all other social sites. To put it in perspective that is roughly one-sixth of the entire world’s population. According to his book, Introduction to Digital Literacy Mark D. Bowles (2013) stated that Facebook is “the leading social networking site” where you can update your status, share information like photos, find friends and establish networks (pg. 184). This is exactly why Facebook is so popular amongst other social sites.