Business Strategies on Facebook. What strategy should Pay2n use to make the most out of Facebook’s potential?

Abstract

One of the most popular social medias is Facebook, today, also a new market for companies. As Facebook can be compared to a market, would not a strategy be needed for a company entering this market? The thesis will bring up possibilities and advantages with Facebook and help companies, in particular the organisation Pay2n, how to strategically create a Facebook page. Literature about strategy and social media is the main focus that is applied on the empirical material, based on interviews with an employee, from Pay2n. There are also practical examples from other companies’ Facebook pages that will show success or failure on Facebook. The analysis describes how competitive strategies, generic strategies and communication strategies should be applied on Facebook and how these will permeate each other and in the end be useful for Pay2n. Pay2n could gain a lot by using the feedback from customers on Facebook to develop and transform their product. Strategy on Facebook is about to believe in something, and decide to join or not, as for any business investment. Without a strategy, Facebook seems not useful.