Facebook: The Largest Marketplace on Earth

I can already hear the screams from the rafters… how dare you mix up dollars and cents with a social network. Those of you who have read my blog for a while understand that I’m not a Facebook fanboy. However, I’m slowly becoming more and more influenced by the incredible stats that Facebook continues to post… and advising my clients to act on them.

And it’s not simply the growth stats, it’s the number of interactions between businesses and Facebook users that’s intriguing. I used to joke that people didn’t go on Facebook to make their next purchase decision. While there’s some truth to this, there’s no doubt that companies on Facebook can influence a consumer’s next purchase – it’s happening every day. The fact is that Facebook is becoming the single largest lifeline to users.

Just to put it into perspective… the Super Bowl had it’s best year ever with 111 million viewers in the United States… Facebook has 146 million users in the United States. Over 50% of them log in each day (some before they get out of bed… check out the presentation below). When you begin to add up the numbers, you quickly begin to recognize that Facebook makes the Super Bowl look like a mosquito bite.

Facebook is also evolving with businesses… providing pinpoint accuracy on Facebook Ads (I use them), great exposure with Facebook Pages and Places, continuously improving Analytics, more and more integration opportunities, and easier development tools.

I shared these statistics at a recent Facebook Session down in Atlanta, sponsored by Webtrends. The statistics definitely opened the eyes of the audience…. and absolutely confirmed my theory that, while there may be no ‘add to cart’ button in Facebook, Facebook is the largest marketplace on the planet.

3 Comments

  1. 1

    The same ‘largest’ marketplace title once was touted by eBay. As FB continues a saturation maturity in developed nations this opens the door for new services to rule in 2-3 years.

    • 2

      Agreed, Jeff. I don’t doubt that a Facebook marketplace is somewhere in the roadmap to actually get the conversions within their platform. Right now I believe they are influencing purchase decisions greater than any other place on the web.

    • 3

      Agreed, Jeff. I don’t doubt that a Facebook marketplace is somewhere in the roadmap to actually get the conversions within their platform. Right now I believe they are influencing purchase decisions greater than any other place on the web.

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