Used to be a time, not that long ago (pre May 25th – the launch date of the Facebook platform), when the most frequently asked question in VC pitch meetings was, “What’s your China strategy?”
Today, topping the faqs has to be, “What’s your Facebook strategy?”
For CxOs who have not yet cottoned on to the viral coefficient and engagement aspects of Facebook, here are a few metrics worth digesting:
* in the first 20 weeks 366 million applications were installed from the Facebook platform.
* this growth is continuing unabated and is set to track past 1 billion in the first year.
* in August – there were 14 million unique app users (this equated to 33% of all Facebook members)
* in August – there were 88 million app visits
* in August – average dwell time per visit was 4:30 minutes.
Asking whether a company has a Facebook strategy is also shorthand for asking whether its executives have embraced the open architecture model. Facebook is the tip of the iceberg, with many more opportunities to leverage deeply engaged user communities on the horizon.
[Stats courtesy of Justin Smith of InsideFacebook @ Graphing Social Patterns, picture courtesy of BeFitt]