With the unleashing of F8, Facebook team would be smacking their lips at the slew of opportunities that has opened up. Facebook would like leverage upon them to help it grow beyond as a social networking site over a period of time.
Search : Search is a holy grail that not many have been successful. Facebook has a good chance to be among the select few who have mastered this. Currently most of the search rankings system is based on the number of quality links that a site has. On the top of it if you add an algorithm to give weightage to the number of likes a particular article has search will throw up better results that are not only made of bots but also human intelligence.
Personalized search: One big advantage Facebook has is it can unleash personalized search. When I do a search results can be displayed as per the weightage my friends have given to different articles. For example if I am searching for review of iphone the results can be based on the likes that my friends had given for different review articles and sites. Not only does this make it personal but also more authentic.
Advertising: Facebook advertising platform can be extended to other third party sites in a big way. Facebook can provide with better targeted advertising services based on the personal likes of a user. The wall is full of information about an user and his friends, add to it the fact that the pattern of a users browsing behavior is also tracked making it much easier to display targeted advertising.
Facebook Currency: Facebook is currently testing a system called Facebook credits. This can be a real big push for sites that build their revenue models around virtual currency. Enter Facebook credit and user need not buy credits for each site or game. A uniform system of payment will open up new opportunities for sites that were traditionally relying on advertising as major source of revenue
Gaming is big business and Zynga has immensely benefited from the Facebook platform with revenue estimates to the north of $500 million by analysts. Gamers give real cash to buy virtual currency and trade in their games now this virtual currency could be replaced by Facebook Credits. Typically gaming companies pay around 10% to service providers like paypal or credit cards companies. Facebook credit can replace this entire system and it is expected that Facebook will take a 20%-30% cut but companies will immensely benefit from the fact that a uniformed system of payment will bring in more users.
Enterprise market: One needs to read more into the partnership between Microsoft and Facebook. The Microsoft docs application helps Facebook users to share documents among friends. I won’t be surprised if any announcements come targeting at enterprise market or on a platform.
I am sure there are many more interesting products that can be built around F8. It is going to be a problem of plenty for Facebook.
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