“DELOITTE’S REPORT ON FACEBOOK’S GLOBAL ECONOMIC IMPACT”

  • How does Social Network Analysis play an important role in shaping :
  • Users behavior in terms of conducting businesses

Facebook are connecting billions of people in every part of the world, it helps everyone discover new potential customers and helping the customer to find some new products by connecting with a lot of people online. It helps them discover new products and services from local and global businesses. Those networks could be analysed and maximizes all opportunity using the data of Social Network.

  • The economic outcome locally and globally?

Social Network Analysis does really play an important role in shaping the economic outcome, especially from marketing effects.

Marketing effects estimate the impact from businesses’ use of Facebook marketing tools to drive online and of ine sales, and to increase awareness of their brand.

Facebook gives marketers of all sizes the ability to reach an audience of more than 1.35bn people through
a set of products that connect businesses and people, including Pages and targeted advertising.9

The report considers three sources of effects that create economic impact from marketing: Pages, targeted advertising and referrals.

Pages provide businesses with a way to establish or enhance their presence online across desktop, mobile and tablet. On Facebook people can discover Pages that are relevant to their interests. Targeted advertising, based on characteristics of Facebook’s audience, allows marketers to deliver messages at scale to their most likely customers, which can increase return on advertising.

Integration of advertising into Facebook’s mobile platform gives marketers the ability to connect with people regardless of the device being used and capitalize on the high popularity of Facebook’s app.
In addition to providing a channel for discovery, businesses can also use their online presence on Pages to get customer feedback, crowdsource ideas, and recruit potential employees.

It is estimated that the marketing effect of Facebook
in 2014 enabled $148bn of economic impact and
2.3m jobs globally. North America, which contains Facebook’s largest market, the US, captured nearly
half of the overall global economic impact ($81bn and 870,000 jobs) through a mix of active advertising spend and high page engagement.

They use SNA to target their advertisement, which in the end will boost the consumption of products.

Platform Effects

Apps integrate with Facebook to enhance customer experience, acquisition, and retention and can use advertising to drive installs or engagement. These apps leverage the Facebook developer platform to

enhance their business proposition and increase sales conversions. Furthermore, developers can extend
their reach and monetise their apps with ads from Facebook’s advertisers through the Facebook Audience Network.

  1. Explain the implementation of SMART concepts in integrating Facebook services into a company’s business (Specific, Measureable, Assignable, Realistic, Time-Related)

Specific:

Facebook outcome and goals are pretty specific. Facebook know their goals and how to reach them, the reports also showing positive results. It stated  that in 2014 more than 1.35 billion people around the world logged into Facebook at least once a month, a 14% increase compared to 2013. More than 83% of people active on the platform log in via their mobile devices and many of them return to check their News feed multiple times a day.

Measurable:

Facebook users in United States mainly using mobile platform to engages with Facebook. They reach billions of people by using a single platform.

Assignable:

Facebook connects people using their platform, many businesses joined Facebook and use this to expand their business opportunity. While personal tend to use for communication with other people. Facebook for businesses that use it as marketing platform to connect with consumers and build brand value.

Realistic:

Facebook will gain its beneficial results through this. It estimates the new economic activity enabled through Facebook’s emergence and growth in the relevant ecosystems. Facebook has become a hub that democratizes marketing and it facilitates economic activity for businesses of all sizes. Mainly from marketing.

Time-Related:

Facebook reach their customers (users) as fast as possible, they serve all people around the world.Economic activity of facebook will results in the increasing users over time. Because of the gradually increasing users, especially from business users, this might end up in increasing business economic activity that is conducted through facebook.

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