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.
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 allows you to send money to others; It operates like Venmo; It's another flow of income for the company.
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.
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.