Company Profiles Success Profiles Wise 

10 Facebook Lessons For Connecting The World.

Facebook starts and ends with founder Mark Zuckerberg’s mission to connect people.

It has a calculated growth strategy and seeks international expansion.

Facebook measures growth by engagement rather than metrics.

To foster engagement and keep users from “bouncing,” Facebook launched News Feed in late 2006.

News Feed puts the entries that matter most to you at the top of your Facebook page in a type of “reverse chronological order.”

In February 2009, Facebook launched the “Like” button.

Facebook bought Instagram, the second-ranked social media network, in early 2012.

Despite a disastrous IPO in May 2012, Facebook rebounded and is worth billions today.

Facebook offers a stripped-down, free version of its app in less-developed countries.

Critics in these nations accuse Facebook of “digital colonialism” and violations of net neutrality.

 

10 Lessons Facebook Learned From Examining Its Successes & Failures For Connecting The World.

  1. “Know whether this is your next thing or your last thing” – When Zuckerberg turned down Yahoo’s million dollar offer, he knew what the future could hold.
  2. “Add by subtracting” – Overloaded users need “fewer things that matter more.”
  3. “Know your north star” – Understand your “magic moment” and “core product value,” so you can track what matters to your audience.
  4. “Democratize something for customers of all size” – Facebook sells News Feed ads by auction so they are accessible to companies at scale.
  5. “Speed is a feature” – Maximize infrastructure to make your service quicker.
  6. “Crossing the chasm is the best defense” – In a competitive race, reach out to customers and work your strengths.
  7. “Disrupt yourself before someone else does” – Disruption is coming, so do it yourself.
  8. Play the “long game” but don’t neglect business – Zuckerberg can pursue Japan, China and India for the long run because Facebook is doing well elsewhere.
  9. “Employee engagement is everything” – Assign people “their most engaging work.”
  10. “Care more” – Facebook succeeded by being passionate about its mission.

 

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Source(s)

  • Becoming Facebook.  The 10 Challenges That Defined the Company That’s Disrupting the World.  Mike Hoefflinger.  AMACOM, 2017.  Pages: 244
  • Image by iStock



Summary
10 Facebook Lessons For Connecting The World.
Title
10 Facebook Lessons For Connecting The World.
Description
The Future of Facebook. How Facebook developed and continues to grow. How Facebook stays true to its mission. What Facebook may do in the future.
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NeoCitizen
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