The one billion users of Facebook across the world make it a cultural, social and economic phenomenon. The significance of the social networking sites to businesses, journalism, social relationships and communication is truly difficult to overemphasize. With over billions of users devoting endless hours to Facebook, it is becoming increasingly popular and crucial medium to obtain information not only about your family and friends, but also about the global events. It is still debatable whether Facebook is good or bad, but the impact of the social networking site is still unquestionable.

Facebook for Businesses

Facebook is the social media platform that has a interface designed specifically for businesses, completed with business profile pages and advertising system that allows the marketers to target their ads based on wealth of information users offer about the business on site. This is the interface which not only guarantees revenue generation for the businesses, but also creates unique opportunities for business with limited advertising budgets and has the surge to reach the specific audiences with limited budget.

Facebook for Journalism & Information

According to a survey, Facebook is considered to be the crucial driver for online news sites. Most of the established platforms and new channels enjoy a significant amount of traffic from their Facebook referrals and links. There are many established sites which enjoy about 10-12 percent of traffic from their Facebook links. Although this is far below the traffic generated by search engines, but it gives a boost to the online news sites to grow according to the trend and demonstrate the capacity of social media contacts so as to recognize the information users read.

Facebook for Communication

In the year 2009, Facebook Chat Program has managed to exceed the 1 billion messages per day milestone and this is achieved in less than a year of the platform launch. This is the figure which is not taken other communication methods on Facebook into account like wall posts, messages, pokes, comments and more. But this demonstrates growing and huge significance of the Facebook as a way for the contact to exchange their information. Even at the cultural level this kind of popularity represents its capacity to shape the communication and language methods amongst the Facebook users.

Facebook as a Community

According to the popular sociologists, Community is defined as a group where even the members are not known to each other personally recognize the each other existence as a part of the whole and share set of common practices and experiences. Facebook has over one billion users at global level and with a number of comparable to the population combined Facebook as a community. This can be good or bad depending upon the conduct of the users on the platform and their decisions made on this platform to shape their relationships amongst the members, yet very existence of such large and huge community is crucial to say the least. 

These were some of the significance of Facebook for varied domains and people are increasingly using it for a variety of purposes today.

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