Facebook is the world’s most popular social network with over 500 million users while Google wins the title of the most popular search engine on the web hands down. But both of them have moved beyond their core competencies into what one can call related diversification. Google which is known as one of the world’s most innovative companies has introduced variety of apps like Gmail, Google News and many others you already know of. Facebook on the other hand has constantly evolved the way people communicate by introducing Facebook Places, Facebook Stories, Facebook Ads and many more applications.
So you would think they aren’t in direct competition with each other? Right? WRONG! Facebook’s open graph Search model which helps advertisers target users based on their demographics and their new search model and partnership with Bing brings them in direct competition with Google Search and Adsense.
Some of Facebook’s recent developments which look to be an initiative in encouraging advertisers include: –
- Facebook’s idea of Facebook Places which allows users to alert their friends on their current location looks to be an interesting opportunity for local advertising in real time
- Their Page Browser tool allows users to discover and go through pages based on their interests and likes
- Facebook’s Open Graph strategy of reaching out to customers before they even know what they are looking for looks to be a rung above Bing or Google
- An application called Payvment has begun an e-commerce platform within Facebook wherein users can discuss about their purchases with their friends
All these moves speak one language. That Facebook is trying to build an experience like no other site on the web. And their greatest aim is to make people stay on the site as long as possible.
But despite all this there is a long way to go before Facebook can match Google in any way. The problems range from lower usage of social networks even today compared to search engines to the fact that many people don’t declare their intentions or likes / dislikes openly on Facebook.
This leads to a problem in the model of targeted advertising. Another problem with such advertising is to avoid being looked like display advertising, it should include engaging content. Even the location based advertising needs to be tapped in a much better manner than thought because it may lead to privacy issues in its present form.
The future of innovation looks great with Facebook giving Google a run for its money! Can it be successful?