Facebook has undergone a major revolution. The site is no longer a place to collect data on the user’s life. It has become a place for buying and selling goods. Already, over 450 million people use the platform to buy and sell products. They have formed groups and communities that trade in similar items. In the UK, communities have come together to form groups to promote trade amongst themselves. A good example is the garage sales groups where members are allowed to see the details of the seller’s information. Here are things Facebook must do to Connect and sell products to billions of Facebook users.
Forming peer-to-peer groups
It allows you to form peer-to-peer groups. It reduces the chances of being scammed even though you may not have an opportunity to see the person you are trading with physically. With Facebook groups, you have a chance to meet new group members and have a look at their profile. Facebook has said that soon it is going to target its ads to the market place. It wants to make the market a place where you can discover people selling all sorts of goods. It intends to build a friendly sales economy where people can impulse buy and sell products just the same way they impulse read and watch posts and videos respectively. In a few days to come, it will operate like eBay to anyone in the UK who owns a smartphone. It is working on the way to monetize the marketplace just the same way it is done at eBay.
Things it must do to survive in the market place?
For a long time, the social media giant has been wading through mad and challenges which if not sorted out will make it difficult for the giant social media to survive. The fake news stories and incendiary ads are some of the things it must put to check. The recent outrage over mining of the giant social media user data must not happen again. It abuses privacy and is likely to scare people from its market place.
Do what the internet wants
It is true that the internet has demonstrated that it is ready to reward smart ideas. But it is unforgiving when you choose not to bring new ideas forward. So if Facebook wants the marketplace to succeed it should do the following:
Address analytical data uproar which
- Solve the ethics problem in its
- Make changes to Facebook internal culture, where any crises that emerge is taken serious and viewed as appoint of accountability.
- Consider itself as a media company and behave responsibly.