Well, it’s finally here. After Facebook announced that they’d have an email solution that’s not email, they’ve rolled it out to the public.

This morning, on my Facebook news feed, I saw the following message regarding Facebook’s new Messages:

The new system combines your messages, texts and chats in one place so you don’t have to try to remember how you communicated with your contacts in order to find what you’re looking for. But it also does one other important thing – something that’s a salvo at Google’s Gmail: users are given the opportunity to get a Facebook email account.

Why would you want a Facebook email? According to Facebook:

There are many benefits:

• It’s free and easy to set up.
• Having your email integrated with your messages, chats and texts makes it easier to check them all at once. And if you’re looking for a message later, you don’t have to worry about how it was sent since all your different types of messages are in one place.
• Your Facebook messages are compatible with traditional email systems (e.g., Hotmail, Yahoo or Gmail). When people send you emails from these external systems, they’re delivered directly to your Facebook Messages. And when you send messages to external email addresses, they’re formatted to look like your messages on Facebook, including your name and profile picture along with your message.
• Owning your @facebook.com address makes it easier for friends and family who are not on Facebook yet to connect with you.
• Your other email addresses may change over time, but your Facebook email never does.

Personally, I”m a committed Gmail user, since my Google account integrates with many other platforms (such as Blogger, which this blog is written on), among others. I don’t know if I’ll give this a try or not.

But a little bit behind what’s driving Facebook’s decision to expand in this area. The New York Times discusses the decline of email in Gen Y, citing that the younger generation simply doesn’t use email as much as they use IM and texting.

In November, Facebook announced the evolution of its messaging system and in a Fast Company article, Zuckerberg noted his inspiration for deciding on the software that would shape the communications style of whole generations:

“Whenever I get a chance to talk to high schoolers, I always want to ask them what kind of software they’re using… So I asked them: What do you use for email? [And they answered,] ‘Some of us use Gmail. Some of us use Yahoo. But we don’t really use email.’ And I said, ‘What do you mean you don’t use email? Everyone uses email.’ And they said, ‘No. It’s too slow.’”
Using high schoolers as a focus group for the future of a multi-billion dollar company? While I understand that they’re on the cutting edge of what’s next and that they’ll be the users of the future, my traditional self cringes a little about the notion of basing your success on the tastes and proclivities of such a young generation. Particularly when they have yet to fully grasp the habit of good writing, functional grammar, and the ability to fully express their thoughts.

My concern arises from this kicker from the Fast Company article:

The teens told Zuckerberg it was too much trouble to think of a subject and to compose a formal message.

We are all aware of the new trend towards marketing online whether it be via social media or other methods.  The old ways of marketing are slowly diminishing, the new ways are thriving.  My guess is that we are just beginning to break the online marketing surface.  The pioneers who use these new tactics will be on the front edge while those who don’t will be left in the dust.  Online marketing allows businesses to target their customers in a much more efficient and effective way.  Using social media allows marketers to narrow down who they are trying to reach significantly, saving them a lot of money and giving them a better ROI.  Think of ways you and your company can use e-marketing.  It’s a great time to be an entrepreneur!

Today, Blockbuster Incorporated, the once powerful video-rental giant, began the process of looking to sell its empire. The company, weakened by revenue losses and forced to file for Chapter 11 bankruptcy in the Fall of 2010 now believes that selling what remains of the company is the best way to maximize value for its shareholders. But what happened to Blockbuster’s once-thriving business model?

Unfortunately for Blockbuster, the company fell rapidly behind its competition in terms of innovation and use of the internet as a marketing tool. It first began to worry when Netflix started to grow by offering movies delivered to your mailbox based on a list of titles you wanted to see. But the corporation truly began to feel the pain when facing combined competition from Netflix’s new online video streaming offerings and RedBox’s ubiquitous… red boxes. Though the company attempted to catch up by offering new business models similar to Netflix, it was ultimately too little too late. Even with new programs to sell of its used DVDs at cheap prices and to “waive” late fees in order to increase demand, the company simply could not make ends meet.

Blockbuster’s demise is a powerful lesson in what happens when a corporation fails to innovate. Though their story is certainly instructive in the realm of the internet, it shows what happens anywhere when an entrepreneur fails to satisfy consumer preference. In particular, it also demonstrates the powerful transformation in business models that is created by the movement of content online. Ultimately, Blockbuster failed to understand one simple entrepreneurial concept: adapt or die.

What does that mean for you, the average reader? Well, first of all, remember to innovate while starting a company. Also, head to Blockbuster to take advantage of their 4 for $20 used DVD deals before it’s too late!

How effective is it?

When creating an advertising campaign on Facebook, you are allowed to narrow down your target market/audience to as few or as many people as you want (ie – males; or 18-24 yr old girls living in Alaska who like “Sarah Palin”). But do people even click the ads that Facebook shows? Personally, I don’t. Furthermore, all of the people I have asked don’t either. So who does? Granted, the generation after ours spends way more time on-line on places like Facebook than we do. So are they actually clicking these ads?

Assuming that people clicking the ads, Facebook is nice in that they are CHEAP. You can do 10,000 impressions for a much cheaper price than, say, Google. But again, it all stems back to the original question: are people even USING the Facebook advertisements to pursue their interests?

If I were a betting man I’d say no. But the internet is always changing, right?