Facebook’s Plan To Remain King Of Social Media

 

Facebook: How Social Media King Plans to Crush Competition

 

When it comes to social media juggernauts, Facebook (FB) is the undisputed king.

During its meteoric rise, the company simply steamrolled existing social media platforms, like MySpace, LiveJournal, and others that you probably don’t even remember now!

Even when Google (GOOGL) entered the fray with Google+, Facebook easily parried the threat with a simple weapon – its massive userbase.

When regular users wanted to reach friends, they went to Facebook because that’s where everyone was. And when companies wanted to reach more customers, they had to advertise on Facebook for the very same reason. Google+ couldn’t compete, and it’s now being unwound.

But Facebook still faces threats from other social media platforms, and the company knows it’s just as vulnerable to an attack from a hotter rival as MySpace was when Facebook first came along.

The difference is that Facebook is doing something about it…

Innovate or Die

Facebook is focused squarely on both its current and potential competitors and is determined to prevent itself from suffering the same fate it inflicted on MySpace.

To achieve that, the company is ramping up its existing services and also creating new ones in order to keep all eyeballs squarely on Facebook, all the time.

It’s a smart strategy, given the emerging threats to Facebook’s dominant status…

THREAT: Medium.com: This is just one of the internet’s many blogging platforms, but it has some Twitter-like features that make it easier to find articles about trending topics. Only three years old, Medium is already popular with many freelance journalists who don’t maintain their own blogs sufficiently well enough to gain a widespread readership. It’s also becoming more popular as a reading platform, which is what will allow it to eventually challenge Facebook.

Facebook’s Response: The company is beefing up its “Notes” service. Even if you use Facebook, you might not be familiar with Notes. It’s basically the site’s blogging platform, but few people currently use it.

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