Interim Executive Tips from Facebook’s Growth Strategy
For inspiration read about interim executive tips and strategies used by Facebook from its startup days that got them billions of users.
You have a great idea, a great product and provide great services, yet there’s still no users or customers. Every business has started from zero so no need to worry. Facebook was once one of those businesses.
Target a Global Audience
Facebook launched in 2004 and was growing steadily year after year. One of the smart things Facebook did as a startup was to hire a data sciences team to monitor that growth. They predicted the website reaching 500 million users in 2015. It was a promising forecast, but one that was off by 6 years as Facebook had a sudden surge in users in 2010 crossing the 500 million mark.
The reason for that explosive growth? Translations. Facebook had begun to reach the limit in English-speaking countries and wasn’t growing as quickly anymore. So the site implemented a software that translated content in over 100 languages providing it with a global audience. Straight away they got access to users worldwide.
Interim Executive Tips: Don’t Underestimate Mobile
For the year 2013, the data sciences team at Facebook predicted the site drawing in 600-700 million users. Instead, it had close to 1.25 billion users! One factor that drove that growth was the rise of smartphones.
Around 2010-2011, people had begun to start using smartphones with internet. It had opened up a whole new world of possibilities and more user time on the site. Facebook had until then only focused on its desktop web application, but realizing the potential, dedicated an entire team to a mobile-optimized interface. It was a smart decision as it led to explosive growth in users and made it the household name it is today.