One of the benefits of Facebook becoming a public company is that every so often we get to take a quick peek behind the scenes and see just how much money they’re making and how many users they have. This is great for us because it lets us work out how strong a social network is plus it ensures that the company itself is going to ensure it remains innovative.
Today Facebook released their quarterly figures and they are, to say the least, astounding.
So what does the data say? Well, essentially, more people are accessing Facebook, they’re doing it from a mobile device and you can make more money off them because of it.
Yes it’s everything we said before but now we have the numbers to back it all up.
The Important Numbers
The important numbers are this:
1.276 billion – That is the number of users that have logged onto Facebook in the past month.
802 million – That’s the number of daily users that are logging onto Facebook
609 million – That’s the number of daily users that log onto Facebook from a mobile device (iPhone/Android/iPad) using either the Facebook application, Facebook mobile web presence or SMS via Facebook. This does NOT include Instagram users.
237 million dollars – That’s the amount of money that Facebook users spent on the social network (purchasing applications etc)
What does it all mean?
Well let’s take a look at Mark Zuckerberg’s prepared remarks
As this quarter shows, we’re also staying focused on execution, and carefully
improving our core products and business. Execution gives us the strength to bet on the future,
and our success over the long term depends on us serving our community today and delivering
against our current strategy
So Mark Zuckerberg wants to change the world and he seems to be doing a pretty good job at it. Facebook is an incredibly safe bet in regards to social networks. They’re constantly innovating and whenever they see a market that they need to get into (such as text messaging or virtual reality) they simply buy it. We saw two major purchases in this quarter, WhatsApp and Occulus Rift, contributing to Facebook’s goal of connecting the world (though how Occulus Rift fits into that we don’t yet know).
But what does this mean for the short term? Well it means that more people are accessing Facebook on their mobile devices and they’re becoming more comfortable with making purchases through said devices. We’ve seen that the iTunes store and Google Wallet make payment through mobile simple. Facebook hasn’t yet caught up in regards to mobile purchasing but there’s no doubt that it’s on Zuckerberg’s mind. He wouldn’t want to leave this huge chunk of the market out for Apple or Google.
So more people are on their mobiles and they’re paying more money through Facebook. How does this impact you?
Imagine location specific Facebook ads.
You’re walking down the street and you pass an Old Navy. If you’re browsing your Facebook feed (which happens more often than you’d think) then you could get a small ad show up saying that ‘you’ve liked Old Navy on Facebook. Did you know that they had a sale on right now?’ and then you would have a coupon attached that can be redeemed at the store.
Facebook would recognise that you were near the store, that you had liked them on Facebook and that perhaps you would like to get 10% off your next purchase. It’s all entirely possible.
It’s also all going to happen.
This is what the future will be. It may not be Facebook at the forefront but you can bet they’ll try their hardest to be there.