I'm sure by now you have heard that Facebook's shares have been taking a dive since its initial IPO offering. I am baffled as to why Facebook has been unable to tap into the mobile market, given the 900 million users it claims to have. I am even more baffled at the current Facebook app that I have installed on my Android phone: it looks and functions just like the website, while completely ignoring the fact that it has access to my current location wherever I may be. For crying out loud it is 2012 and you are a huge company with billions of dollars and you can't figure out a way to make money while your app is installed on my phone and accompanies me nearly everywhere I go 24 hours a day?!
OK - I know how it is when someone is too close to a problem. This happens to me all the time - I can't see the obvious solution. So, if I owned Facebook (scary thought I know) I would be thinking about how I could implement the following:
I would want all of my users to start experiencing the web and their connections to others through the Facebook app. Think of the Facebook app as a portal to the rest of the internet and their Facebook profile as a type of currency. Every time someone is near a Starbucks, a notification could pop up inviting the user to get $0.50 off a latte if they buy it with their Facebook account. Similarly, users could earn "points" for buying products and services through their Facebook accounts. Facebook could partner with game companies and offer subscriptions at reduced rates. Facebook would make a killing in referral charges for utilizing their network. This is just the start - imagine being able to talk to someone for free through your Facebook account (voice or text) since everyone will be signed in all the time. The opportunities to connect and create new experiences through the Facebook portal (app) would be right in your pocket, whenever you need it. These are just a few ideas off the top of my head - can you come up with more?
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