In today’s socially connected day and age, companies are fighting for screen time among users. Unlike the auto industry where users buy either a Ford F-150 or a Chevy Silverado, people often use more than one social media service. The social media industry races for the most unique users and competes to capture an individual’s personal time. These free services make money based on how much time users spend on their platforms and ultimately how many times they click an advertisement, so appealing to a large number of dedicated users is key. Facebook’s main competitive advantage is its vast user market. These users are diverse individuals that enjoy varying products, brands, and experiences. The company stores large amounts of information about
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al, 2014). With the addition of the Snapchat Discover stories and the Live Snapchat stories, Snapchat taps into a new revenue stream. There are rumors that Alibaba, the ecommerce site that had the largest IPO ever, and other investors are considering an investment valuing Snapchat at over fifteen billion dollars (Saitto, 2015). It is also being sought after for its incredibly young and active user base. Without a personal profile or the ability to see old posts, Snapchat is a competitor for time and advertisements. Facebook can serve as a nostalgic, memory-filled site that the short-lived Snapchat …show more content…
Google+ has not seen an incredible amount of success compared to Facebook, as users spend an average of six hours on Facebook and under seven minutes on Google+ (Piskorski et. al, 2014). While Google+ offers group video chatting and greater privacy settings, it lacks Facebook’s prominence among users. LinkedIn, which boasts over 414 million worldwide users, targets a niche demographic and presents a different user experience (“About Us”). Looking to attract professionals and those who want to network with users, LinkedIn addresses a missing business niche. While Facebook offers the ability to network and develop business relationships, it reaches beyond those interactions in order to support all connections among users. Beyond advertising revenue, LinkedIn earns money by offering premium subscriptions and job posting services by employers to attract its members. Facebook is not set up to, and certainly does not need to, require members to pay for certain features of its
al, 2014). With the addition of the Snapchat Discover stories and the Live Snapchat stories, Snapchat taps into a new revenue stream. There are rumors that Alibaba, the ecommerce site that had the largest IPO ever, and other investors are considering an investment valuing Snapchat at over fifteen billion dollars (Saitto, 2015). It is also being sought after for its incredibly young and active user base. Without a personal profile or the ability to see old posts, Snapchat is a competitor for time and advertisements. Facebook can serve as a nostalgic, memory-filled site that the short-lived Snapchat …show more content…
Google+ has not seen an incredible amount of success compared to Facebook, as users spend an average of six hours on Facebook and under seven minutes on Google+ (Piskorski et. al, 2014). While Google+ offers group video chatting and greater privacy settings, it lacks Facebook’s prominence among users. LinkedIn, which boasts over 414 million worldwide users, targets a niche demographic and presents a different user experience (“About Us”). Looking to attract professionals and those who want to network with users, LinkedIn addresses a missing business niche. While Facebook offers the ability to network and develop business relationships, it reaches beyond those interactions in order to support all connections among users. Beyond advertising revenue, LinkedIn earns money by offering premium subscriptions and job posting services by employers to attract its members. Facebook is not set up to, and certainly does not need to, require members to pay for certain features of its