hello everybody Tom Ellsworth here and
welcome back to case studies with the
biz doc this week we’re going to take a
look at how I think Facebook is rapidly
becoming the Amazon of social media and
I’m going to unpack that for you and let
you know what I mean
there are two core points in this case
study that I want to underline for you
and the first is to focus on doing
simple things really great when you
think about Facebook or you think about
Amazon think about how many little
things they do great to make it easy to
order things or easy to make a post and
that is a sign of a focused polished
company and it’s also a point that you
can take away focus on doing little
things really great the second is
relentlessly seek ways to take your
current experience and your product
knowledge further that doesn’t mean lose
focus on what you do well or on your
core market or core customer but it does
mean you are relentlessly looking for
opportunities to take what you do today
into me me even adjacent spaces tomorrow
we’ve seen Amazon do that and I’m going
to explain what I think is going on at
Facebook right before our eyes and it
may be something that end-to-end you
haven’t seen the whole package but I’m
going to explain it to you so let’s go
look at Amazon for a second a couple
weeks ago I did a case study on Amazon
and retail and how they’re dominating
but if you think back to the beginning
of Amazon first they had a book store
and they were selling books online then
they discovered hey with all this
technology to sell books we can sell
other things
shoot they can even sell patio furniture
these to be that joke that you can buy a
book from Amazon a book on how to build
the patio and then then actually order
enormous patio furniture from Amazon
well I wasn’t really a joke they were
taking their technology and applying it
forward then as they stayed in the book
lane and they look at what’s happening
in publishing they actually went out and
designed the Kindle and pioneered ebooks
well in a book is nothing more than
digital media so it’s a surprise no one
that they suddenly were in Amazon music
and Amazon movies where those digital
media products were coming to you and me
as well
and when you think about all those
servers and all that space and the data
centers that they actually design much
of which themselves then all of a sudden
they say well let’s take everything
we’ve learned on collecting data and
running massive server facilities and
let’s sell it to people Amazon Web
Services so as you can see there was a
progression but it was relentless and if
you can say anything about Amazon is
that they are relentless relentless
about the end user you and me and you
can see how they went door to door step
by step with everything that has made
them into the behemoth and the
successful and beloved company that they
are today so as we go onto Facebook why
would you think that I would connect
those two dots in that way
let me explain in the beginning Facebook
had this social graph they called it and
this is where we know what we do on
Facebook we stay in touch with friends
we post things that are interesting to
us in terms of a link of video and
article and we talk about ourselves and
pictures of our kids our friends and
family and all the stuff that goes on in
life
great that’s what we do along the way
Facebook started doing other things
because the social media there were tech
services there were picture services a
lot of things happen Facebook bought
Instagram at one point and that became
part of the Facebook family but they let
Instagram run and in a case study I did
just a couple weeks ago we talked about
how with Facebook’s guidance Instagram
was challenging snapchat in stories so
we already see them on a thrust there
and I already see some of the story
stuff coming back into Facebook itself
on the page that you and I keep well as
we move along there this week it all
came together for me when Facebook
announced that they were going to have
job postings on Facebook and they’re
going to have information about those
companies and when you reply to them
it’ll grab the information right off
your Facebook page about you pre fill it
into these response forms or
applications if you want to call it that
back to the companies so all of a sudden
Facebook here is going up against
LinkedIn and you consider all that
Microsoft paid 26.2
billion dollars for LinkedIn and they
better get to work and figure out how
they’re going to counter what is going
to be the march of Facebook right into
their territory you know one of the
things I look at is you know LinkedIn
has only about a hundred and six million
monthly active users going back to last
quarter the end of the sixteen during
that same time Facebook announced that
they had 1.7 billion active users going
back now let’s take a look at that for a
second so Facebook 1.7 billion active
users
ladies and gentleman there’s only 7
billion people on earth which means that
one out of every four people on earth
have a Facebook page or actually
probably more than that of a Facebook
page that was the number that was
actually visiting Facebook in terms of
monthly active users in the previous
quarter so one out of four people on
earth visited Facebook last quarter you
know you look at that you say damn
that’s a lot of people and LinkedIn at a
hundred and six million seventeen times
smaller than in Facebook so now you
think about if they start marching here
and take all the information for you and
me
and start making it easy for us to
respond to job ads that are here that
means they’re taking aim at LinkedIn now
LinkedIn is got a lot of professional
features a lot of things going on and
Facebook’s going to have to do more than
just post jobs to strike fear into the
heart of LinkedIn especially with
LinkedIn’s got Microsoft and a lot of
very smart people and a lot of strength
behind it but certainly things like
monster.com and these job sites now
there’s big big changes when all that
Facebook can bring to bear it’s in there
and so I think that that when you step
back at it and you look at this it is a
sign that Facebook is taking everything
it’s learned and going into an adjacent
area just like Amazon which is why I say
Facebook is quickly becoming the Amazon
of social media you know there’s another
element that goes here and I was
thinking this week you know you take a
look at
openes that have facebook pages well
some companies ask why the hell do I
have a Facebook page for instance a past
CMO of coca-cola company said I don’t
know we have a why we have Facebook
pages for some of our products if
400,000 people click the like button on
diet coke will somebody please tell me
that that’s sell more diet coke tomorrow
than today because that’s my job is to
do the marketing the promotion the
advertising the brand management
everything about Diet Coke and to
Shepherd that into future and sell more
Diet Coke tomorrow than I sold today and
to box out competitors they’re trying to
come take my diet coke market share if
you can do with those things Facebook
I’m interested well I think that
attitude maybe still exist because I
look some things up at the diet coke
page to use an example here of how a
company might take advantage of what
Facebook is doing and you know on the
Facebook page the last post that diet
coke and this is diet coke with the blue
checkmark the official page the last
post was January 29th and I got 329
likes and there was no Valentine’s
message and before that the last post
was back in December and the last video
was back on July 4th of last year 2016
so on one hand you can say that Diet
Coke is completely whiffing on social
media on the other hand you can say well
why would they bother with it if it’s
not going to sell Diet Coke
however if you think into the future and
you think about maybe the page becomes a
destination to see and understand not
only the product Diet Coke but all the
people that are working on Diet Coke and
maybe more of that comes up as a means
to share with someone why they might
want to respond to a job to go work for
the coca-cola company working on Diet
Coke so I thought this through and said
wow I believe that a whole different
experience can be coming to the
corporate and the product page when you
start adding the ability to put jobs and
company information in there the
Facebook is planning it might incent
companies to do more with that page than
just put their commercials up that are
already on TV posting those
Facebook so you could watch commercials
again I mean it’s interesting video but
what’s really the point so how many
times have you had someone tell you also
hey I think I saw a job you and LinkedIn
well that doesn’t happened so often I I
haven’t seen a lot of that but what I
have seen is people say I think you like
this news story or I think it would you
like this video
you’re constantly sharing people that
you sharing things with people can’t
even talk today that you think would be
interesting to them well what if that
now includes a job so I think that
there’s a lot going on here with
Facebook and jobs a lot more than meets
the eye so when you step back a little
bit more and say well what else is
Facebook been doing who else are they
messing with well let’s go to let’s go
to video it’s been over a year since
there was this big announcement that
Facebook video had passed YouTube in
certain metrics well that was a big deal
that meant that now Facebook was a
destination for video where people could
watch video well this year on
Valentine’s Day a woman named being a
sit ler who’s the product manager of
facebook video announced all sorts of
controls that are going to enhance video
on Facebook more sound settings so it
doesn’t automatically play a vertical
video formats a view of video off to the
side on your phone and keep scrolling
through updates from your friends a lot
of trick things for the mobile Facebook
user but also people that want to
consume video but don’t want to sit down
and be preoccupied completely by the
video and then they’ve also said that
they’re announcing more apps for Apple
TV samsung connected TVs and amazon
firetv meaning that what you see on
facebook we’re going to make apps so the
video and the content on Facebook now
can be in a large screen format right
there in your living room you can do
some of that now but this is Facebook
announcing hey we’re not just going to
be a destination for video we want to
extend and do more for video and we want
to be on those connected TVs so I think
that really was something people were
making assumptions
about and the assumptions stopped
completely
when assumptions became reality when
Mark Zuckerberg did their q4 earnings
release basically said hey we’re going
to share you know our revenue our
advertising revenue with content
creators just like YouTube and we’re
also going to pay content creators to
put stuff on Facebook and we’re going to
favor longer form content that’s on
Facebook well guess what that is a full
two-step walk into the future of video
not just making individual posts easier
to look at so and I talked in a another
area there getting into I talked a
couple weeks ago about how through
Instagram and you know the the home page
they’re coming after snapchat you can go
back and take a look at my Instagram
snapchat case study from a couple weeks
ago to find out more on that I think
you’ll find it pretty interesting but
now let’s go to a fourth area and that
is m-commerce
today there is a story that referenced
some research that caught my eye very
recently and that was that there is an
extended study done of people that made
purchases between June and August of
2016 some of these r online purchases
some of these were retail purchases and
they found out that 30% of them said
they discovered a new product that they
bought on Facebook and one-third of them
said that they thought Facebook and
Instagram were really interesting places
to find out about new products and then
20% said that Facebook led them directly
to purchase a product online so suddenly
my facebook page is heavily influencing
me in quantified researched ways to buy
things at retail and to buy things
online so let’s think about that so now
on on the Facebook pages I may notice
something for a product page where I see
a different look into that company
complete with jobs and understanding the
people that work there making that kind
of fun and exciting I then
and influence to buy the product and
Facebook is charging more for the ads to
the company that wants to sell those
products you can see things coming full
circle here and how do you get me to sit
there and watch more ads and discover
more products and more interesting
things you put a whole bunch of video up
there and long form to get me spending
more time at the Facebook portal not
just checking up on what my friends are
doing but maybe watching some of the
longer shows my friends like and things
that I’ve discovered too so I think that
as we move forward we’re seeing Facebook
use its learnings from end to end and to
move forward and there you have it after
all of this you can see why I think that
Facebook is rapidly becoming that Amazon
of social media they do two things which
are the points for this case study they
focus on doing simple things and make
them really great like being able to
watch a video and have this and this
happen or the sound their agonizing in
those things and that’s why you should
agonize over your product do the simple
things really great and then
relentlessly find ways to use your
experience to push it into the future
and to do even more and that’s what I
think Amazon did and that’s what I know
that Facebook is doing today so we’ll
see you next time I need the pillow meet
the famous pillow until next time please
subscribe the value tainment the best
channel on the internet for content for
entrepreneurs until next time I’m Thomas
Wirth and I hope I led you better than I
found you
welcome back to case studies with the
biz doc this week we’re going to take a
look at how I think Facebook is rapidly
becoming the Amazon of social media and
I’m going to unpack that for you and let
you know what I mean
there are two core points in this case
study that I want to underline for you
and the first is to focus on doing
simple things really great when you
think about Facebook or you think about
Amazon think about how many little
things they do great to make it easy to
order things or easy to make a post and
that is a sign of a focused polished
company and it’s also a point that you
can take away focus on doing little
things really great the second is
relentlessly seek ways to take your
current experience and your product
knowledge further that doesn’t mean lose
focus on what you do well or on your
core market or core customer but it does
mean you are relentlessly looking for
opportunities to take what you do today
into me me even adjacent spaces tomorrow
we’ve seen Amazon do that and I’m going
to explain what I think is going on at
Facebook right before our eyes and it
may be something that end-to-end you
haven’t seen the whole package but I’m
going to explain it to you so let’s go
look at Amazon for a second a couple
weeks ago I did a case study on Amazon
and retail and how they’re dominating
but if you think back to the beginning
of Amazon first they had a book store
and they were selling books online then
they discovered hey with all this
technology to sell books we can sell
other things
shoot they can even sell patio furniture
these to be that joke that you can buy a
book from Amazon a book on how to build
the patio and then then actually order
enormous patio furniture from Amazon
well I wasn’t really a joke they were
taking their technology and applying it
forward then as they stayed in the book
lane and they look at what’s happening
in publishing they actually went out and
designed the Kindle and pioneered ebooks
well in a book is nothing more than
digital media so it’s a surprise no one
that they suddenly were in Amazon music
and Amazon movies where those digital
media products were coming to you and me
as well
and when you think about all those
servers and all that space and the data
centers that they actually design much
of which themselves then all of a sudden
they say well let’s take everything
we’ve learned on collecting data and
running massive server facilities and
let’s sell it to people Amazon Web
Services so as you can see there was a
progression but it was relentless and if
you can say anything about Amazon is
that they are relentless relentless
about the end user you and me and you
can see how they went door to door step
by step with everything that has made
them into the behemoth and the
successful and beloved company that they
are today so as we go onto Facebook why
would you think that I would connect
those two dots in that way
let me explain in the beginning Facebook
had this social graph they called it and
this is where we know what we do on
Facebook we stay in touch with friends
we post things that are interesting to
us in terms of a link of video and
article and we talk about ourselves and
pictures of our kids our friends and
family and all the stuff that goes on in
life
great that’s what we do along the way
Facebook started doing other things
because the social media there were tech
services there were picture services a
lot of things happen Facebook bought
Instagram at one point and that became
part of the Facebook family but they let
Instagram run and in a case study I did
just a couple weeks ago we talked about
how with Facebook’s guidance Instagram
was challenging snapchat in stories so
we already see them on a thrust there
and I already see some of the story
stuff coming back into Facebook itself
on the page that you and I keep well as
we move along there this week it all
came together for me when Facebook
announced that they were going to have
job postings on Facebook and they’re
going to have information about those
companies and when you reply to them
it’ll grab the information right off
your Facebook page about you pre fill it
into these response forms or
applications if you want to call it that
back to the companies so all of a sudden
Facebook here is going up against
LinkedIn and you consider all that
Microsoft paid 26.2
billion dollars for LinkedIn and they
better get to work and figure out how
they’re going to counter what is going
to be the march of Facebook right into
their territory you know one of the
things I look at is you know LinkedIn
has only about a hundred and six million
monthly active users going back to last
quarter the end of the sixteen during
that same time Facebook announced that
they had 1.7 billion active users going
back now let’s take a look at that for a
second so Facebook 1.7 billion active
users
ladies and gentleman there’s only 7
billion people on earth which means that
one out of every four people on earth
have a Facebook page or actually
probably more than that of a Facebook
page that was the number that was
actually visiting Facebook in terms of
monthly active users in the previous
quarter so one out of four people on
earth visited Facebook last quarter you
know you look at that you say damn
that’s a lot of people and LinkedIn at a
hundred and six million seventeen times
smaller than in Facebook so now you
think about if they start marching here
and take all the information for you and
me
and start making it easy for us to
respond to job ads that are here that
means they’re taking aim at LinkedIn now
LinkedIn is got a lot of professional
features a lot of things going on and
Facebook’s going to have to do more than
just post jobs to strike fear into the
heart of LinkedIn especially with
LinkedIn’s got Microsoft and a lot of
very smart people and a lot of strength
behind it but certainly things like
monster.com and these job sites now
there’s big big changes when all that
Facebook can bring to bear it’s in there
and so I think that that when you step
back at it and you look at this it is a
sign that Facebook is taking everything
it’s learned and going into an adjacent
area just like Amazon which is why I say
Facebook is quickly becoming the Amazon
of social media you know there’s another
element that goes here and I was
thinking this week you know you take a
look at
openes that have facebook pages well
some companies ask why the hell do I
have a Facebook page for instance a past
CMO of coca-cola company said I don’t
know we have a why we have Facebook
pages for some of our products if
400,000 people click the like button on
diet coke will somebody please tell me
that that’s sell more diet coke tomorrow
than today because that’s my job is to
do the marketing the promotion the
advertising the brand management
everything about Diet Coke and to
Shepherd that into future and sell more
Diet Coke tomorrow than I sold today and
to box out competitors they’re trying to
come take my diet coke market share if
you can do with those things Facebook
I’m interested well I think that
attitude maybe still exist because I
look some things up at the diet coke
page to use an example here of how a
company might take advantage of what
Facebook is doing and you know on the
Facebook page the last post that diet
coke and this is diet coke with the blue
checkmark the official page the last
post was January 29th and I got 329
likes and there was no Valentine’s
message and before that the last post
was back in December and the last video
was back on July 4th of last year 2016
so on one hand you can say that Diet
Coke is completely whiffing on social
media on the other hand you can say well
why would they bother with it if it’s
not going to sell Diet Coke
however if you think into the future and
you think about maybe the page becomes a
destination to see and understand not
only the product Diet Coke but all the
people that are working on Diet Coke and
maybe more of that comes up as a means
to share with someone why they might
want to respond to a job to go work for
the coca-cola company working on Diet
Coke so I thought this through and said
wow I believe that a whole different
experience can be coming to the
corporate and the product page when you
start adding the ability to put jobs and
company information in there the
Facebook is planning it might incent
companies to do more with that page than
just put their commercials up that are
already on TV posting those
Facebook so you could watch commercials
again I mean it’s interesting video but
what’s really the point so how many
times have you had someone tell you also
hey I think I saw a job you and LinkedIn
well that doesn’t happened so often I I
haven’t seen a lot of that but what I
have seen is people say I think you like
this news story or I think it would you
like this video
you’re constantly sharing people that
you sharing things with people can’t
even talk today that you think would be
interesting to them well what if that
now includes a job so I think that
there’s a lot going on here with
Facebook and jobs a lot more than meets
the eye so when you step back a little
bit more and say well what else is
Facebook been doing who else are they
messing with well let’s go to let’s go
to video it’s been over a year since
there was this big announcement that
Facebook video had passed YouTube in
certain metrics well that was a big deal
that meant that now Facebook was a
destination for video where people could
watch video well this year on
Valentine’s Day a woman named being a
sit ler who’s the product manager of
facebook video announced all sorts of
controls that are going to enhance video
on Facebook more sound settings so it
doesn’t automatically play a vertical
video formats a view of video off to the
side on your phone and keep scrolling
through updates from your friends a lot
of trick things for the mobile Facebook
user but also people that want to
consume video but don’t want to sit down
and be preoccupied completely by the
video and then they’ve also said that
they’re announcing more apps for Apple
TV samsung connected TVs and amazon
firetv meaning that what you see on
facebook we’re going to make apps so the
video and the content on Facebook now
can be in a large screen format right
there in your living room you can do
some of that now but this is Facebook
announcing hey we’re not just going to
be a destination for video we want to
extend and do more for video and we want
to be on those connected TVs so I think
that really was something people were
making assumptions
about and the assumptions stopped
completely
when assumptions became reality when
Mark Zuckerberg did their q4 earnings
release basically said hey we’re going
to share you know our revenue our
advertising revenue with content
creators just like YouTube and we’re
also going to pay content creators to
put stuff on Facebook and we’re going to
favor longer form content that’s on
Facebook well guess what that is a full
two-step walk into the future of video
not just making individual posts easier
to look at so and I talked in a another
area there getting into I talked a
couple weeks ago about how through
Instagram and you know the the home page
they’re coming after snapchat you can go
back and take a look at my Instagram
snapchat case study from a couple weeks
ago to find out more on that I think
you’ll find it pretty interesting but
now let’s go to a fourth area and that
is m-commerce
today there is a story that referenced
some research that caught my eye very
recently and that was that there is an
extended study done of people that made
purchases between June and August of
2016 some of these r online purchases
some of these were retail purchases and
they found out that 30% of them said
they discovered a new product that they
bought on Facebook and one-third of them
said that they thought Facebook and
Instagram were really interesting places
to find out about new products and then
20% said that Facebook led them directly
to purchase a product online so suddenly
my facebook page is heavily influencing
me in quantified researched ways to buy
things at retail and to buy things
online so let’s think about that so now
on on the Facebook pages I may notice
something for a product page where I see
a different look into that company
complete with jobs and understanding the
people that work there making that kind
of fun and exciting I then
and influence to buy the product and
Facebook is charging more for the ads to
the company that wants to sell those
products you can see things coming full
circle here and how do you get me to sit
there and watch more ads and discover
more products and more interesting
things you put a whole bunch of video up
there and long form to get me spending
more time at the Facebook portal not
just checking up on what my friends are
doing but maybe watching some of the
longer shows my friends like and things
that I’ve discovered too so I think that
as we move forward we’re seeing Facebook
use its learnings from end to end and to
move forward and there you have it after
all of this you can see why I think that
Facebook is rapidly becoming that Amazon
of social media they do two things which
are the points for this case study they
focus on doing simple things and make
them really great like being able to
watch a video and have this and this
happen or the sound their agonizing in
those things and that’s why you should
agonize over your product do the simple
things really great and then
relentlessly find ways to use your
experience to push it into the future
and to do even more and that’s what I
think Amazon did and that’s what I know
that Facebook is doing today so we’ll
see you next time I need the pillow meet
the famous pillow until next time please
subscribe the value tainment the best
channel on the internet for content for
entrepreneurs until next time I’m Thomas
Wirth and I hope I led you better than I
found you
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