Facebook has a new service called 'pages', which allows a business, band, author, restaurant or other venue to set up a page in facebook. It also allows those who ave brands to do the same thing. This is a new initiative opening up facebook to more than just profiles of people. Facebook has created an entire word of mouth economy which can further explode its growth. According to Facebook, its membership is growing by 250,000 members a day and now has 53 million members. This is a very powerful new tool for marketers.
Facebook recognizes that its members visit sites outside of facebook and has a new service called facebook 'beacon' to allow organizations to embed code within their website which will allow for other facebook users to see that they visited this site.
Facebook has also launched facebook 'insights' which is an analytical tool to allow for people who advertise on facebook to track page visits and see the demographic information of who visits their pages.
The facebook pages initiative puts it in direct competition with my space for musicians who are promoting themselves.
As more individuals have made their profile page a central part of their daily routine, the power of this new word of mouth global economy will be forever changed.
We will explore further uses of this new technology over the coming weeks and months.
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