1- What is Facebook Business Suite?
Facebook is a social network; It started as a simple website
that allows its users to connect by sending friendship requests, posting photos
of themselves, and sharing comments. Facebook has gradually expanded its
functions; It allowed users to post stories, create collections, and many other
exclusive things that can't be found anywhere else.
Facebook also owns Instagram and WhatsApp. More than 1
billion people use Facebook and its affiliates, making it one of the world's
largest social media platforms.
2. How does Facebook Business Suite work?
When it was first created, Facebook or TheFacebook was
intended, as was common when to be a platform that empowered college students
to communicate and interact with their preachers. However, today, anyone in the
world can use Facebook and communicate with anyone anywhere.
Her work is simple, you create a profile, you put a picture of it, and you start communicating with people by asking for friendship. You can link your Facebook personal account to Instagram and create a new Instagram profile account without much trouble. The reason that Facebook has become popular is because of its simplicity, organizational interface, and user-friendly; It is easy to handle even for those who do not use technology much. But How does Facebook Business Suite make money?
3. How does Facebook Business Suite make money?
Facebook makes money by charging content creators for ads on
both Facebook and Instagram; It also generates a fraction of its revenue
through the sale of devices, Facebook Pay, and other apps.
Charging for ads on Facebook
Facebook charges a specific amount of money depending on the
type of ad it intends to trade. Shipping fees can depend on many factors, the
type of advertising, the period of time you want to view, and the area you want
to view them. Meta uses a modern algorithm to find the target audiences most
relevant to advertising and display advertising to them, making Facebook ads
the most effective type of marketing.
Charging for ads on Instagram
Meta also charges advertising fees on Instagram in a way
similar to Facebook; You are accused on certain criteria. It also uses the same
algorithm, which finds a special audience for your requirements and ensures
much better access.
Hardware Sale
Meta acquired Oculus in 2014, and since then, the sale of
Oculus devices has also generated a percentage of the revenue generated by the
company.
Facebook Pay
Facebook Pay allows you to send money to others; It operates
like Venmo; It's another flow of income for the company.
Other Applications
Jibbigo and Onavo are two other apps that allow Meta to make
money.
4- Future growth engine
Recently, Meta CEO Mark Zuckerberg changed the name of the
parent company that owns Facebook, Instagram, WhatsApp, and Oculus to Meta.
This is the first step towards Metaverse, which will take
social networks to the next level; Holograms, physical projections, and more
realistic online interactions may soon become a reality.
Metaverse is an ambitious step in the right direction; If
checked, it could be different from anything seen before. However, user privacy
is paramount if Facebook wants the metaverse to become a success. Users' data
must be protected, and the company must ensure that it does not fall into the
wrong hands.
5- Competitors
Facebook has competitors in almost all of its services. In
advertising, it has competitors like Google and Amazon, two tech giants.
As a social media platform, Facebook has seen its fair share
of competition; It has many competitors like Snapchat, Twitter, Reddit,
Pinterest, and many other platforms. However, Facebook remains on top because
of the diversity of its services. One of its fastest-growing competitors is
Discord, a popular chat platform with YouTubers, players, players, and
influencers.
As a video-sharing platform, Facebook also faces competition
from YouTube.
