Facebook Expands Advertising No Small Announcement

5 Mar

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What is the Future of Facebook?

At an event that included a performance by Alicia Keys (doesn’t she have something better to do?), Facebook announced a few big changes to the way it’s going to handle advertising. These days hearing that Facebook is changing comes with more indifferent sighs and grunts from its users. What they might not be thinking about is that these decisions might be critical decisions about the future of their favorite website.

Since Facebook has allowed advertising and with their IPO on the imminent horizon there should be no shockers when it comes to advertising on Facebook. Next time you’re on Facebook check out the terms and services. You’ll come to the sobering realization that Facebook owns your ass and there’s nothing you do can do about it.

Even with Facebook arguably at the peak of its membership performance the next hurdle will be how can they grow through monetization? This is a tricky thing to navigate. If you appeal too much to the advertisers at the expense of the user experience you’ll fail. Lean too favorably to the members and you’ll fall equally hard.

We’re in a very interesting and exciting age of new mediums right now. In my opinion the internet is finally realizing its full potential in so far as our ability to connect and consume information. While the capability is there no one knows what the hell they’re doing yet. The likes of Facebook, Twitter, Foursquare, Pinterest, Spotify etc. are venturing into unknown business territory. The rules are being made up as we go along.

What this all makes me wonder is where will all of this be in the next ten years, twenty years, fifty years? Will Google and Facebook be the GE and P&G of the next century? That’s hard to imagine at this point. The announcement about Facebook’s new advertising policy and looming IPO might be very small news to most of its users, but how they handle the coming months and years might determine the course of the social media medium as we know it.

Follow: JoshPGreenberg

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