I’d suspected that Facebook is moving fast toward monetization.
But Sheryl Sandberg’s confirmation that Facebook has been profitable for 5 consecutive quarters still comes as a nice surprise.
Nevertheless, considering this model, where all the money has been generated is not much a question.
Where else has Facebook been making money on? Will Social Search come next? Will Facebook do Data Mining behind the scene?
My first fortnight in Sydney passed and the only social media entity I’m surrounded by is neither Google, Yahoo nor Twitter, but Facebook.
My experience with the University of New South Wales confirms my hypothesis on the Viralization of Facebook:
In UNSW we have over 100 clubs and societies. Student activities and career orientation programs here are organized make use of Facebook as a platform for announcements, discussions, networking and to some extent, information storage.
Newly arrived students are inevitably invited to create a Facebook account, connect to others and join many of the student groups.
Influencers are ubiquitous. And they’re not necessarily the tech-savvy; mainly, they have something to share.
Around 2,600,000 Australian are in Australian network, around 12% of the whole population of Australia.
A quick check on Alexa shows that Facebook is ranking 3rd in Australia, only after the two Google’s properties. Considering their popularity and potential to dominate the web further, I’m not surprised if Facebook wants to shift from relationship-centric to content-centric.
An opportunity for thinkers to take a step back and strategize for the next steps. Haven’t they we been too absorbed in the fast-moving everyday tasks before?
Companies can spend the time to actually sit down uninterruptedly with their Consultants.
A good excuse to hold on to the core business.
Innovate. Pull ideas from the pool, try some.
Self-teach new skills or pursue formal higher education.
July 2008 witnesses a boil in personal banking services in Ho Chi Minh City.
1. Many banks have been aggressively expanding their ATM network.
Dong A Bank’s CEO just claimed that their ATM network is second to Vietcombank’s in Vietnam. And this is true. The navy shade of Dong A ATM can found spotted on many corners along main streets.
Following right after Dong A are the light-blue ACB, the red-blue Vietinbank and another red-blue BIDV.
2. ANZ does like no other with their impressive home banking service
ANZ banking consultants provide consulting services at customers’ home on calls and free of charge.
3. HSBC eventually accelerated in their personal banking expansion
Their target is the mid-high income class with salary from $1,000 up. The ATM network also grew steadily.
4. Interest rate for VND rised to nearly 19%
Was it innovation is experience?
In the context of financial difficulties in Vietnam in recent months, many banks especially foreign-invested have made bold moves. Some of them might be perceived as innovative. However, these practices are hard results from the experience of their long histories in more developed markets.
Welcoming August 2008, the goggles shall continue to be on CPI, the fluctuating stock market and especially gold. Real-estate, for the mean time, might enjoy a short rest.
What personal banking service are you using in Vietnam? How happy are you with your current bank? What services do you wish your bank had provided?