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Facebook's share price dove almost 10% again yesterday for over $35 billion in lost value since the IPO. An announcement of a new acquisition could make things even worse. What does this mean for business owners debating marketing on Facebook?
It appears Facebook is in the process of acquiring facial recognition software firm, Face.com which is responsible for Photo Tagger for around $100 million. This certainly seems like a risky move considering the privacy issues and suits already causing Facebook trouble. Facial recognition software, while neat for users also makes privacy scarce and presents major security concerns.
While the marketing potential for those with full access to all the consumer information Facebook has coupled with facial data could be extremely huge more concerns about the future existence and longevity of the social giant could have a dampening effect on it as a marketing tool, especially if there is a big exodus in users.
Still, no business can afford to be without a strong Facebook presence and campaign at the moment and for the foreseeable future. However, diversifying marketing efforts and being prepared for the next generation of marketing tools is essential for organizations who want to stay ahead of the competition and not risk an overnight dive in revenues.
Besides keeping on top of future marketing trends this means a focus on strong branding including vanity numbers and premium internet domain names as well as custom social URLs, which can be quickly carried over to new mediums.
Provided you have a strong enough and recognizable brand it is relatively simple to jump into new strategies and tactics without losing much momentum. Speed also means being able jump on and dominate new mediums and establish positioning while others are still scrambling to find an audience.