We have seen what has become of Facebook after it started a social network for a small group of people at Harvard. It has boomed with over a 1.4 billion daily users. It was championed as a business platform where businesses could use it for Facebook ads and connecting with people. It was a good platform as it has so many users, and the ability to also have chatbots for messenger marketing.
Trouble is that there was a recent algorithm change. This change has not been so friendly for business. As we know, Mark Zuckerberg said that this change was for more ‘personal’ content. The consequence is that businesses cannot really use the platform anymore. The algorithm doesn’t treat the content well.
What the stats say
Some say stats are out there that prove the point. A recent recode article shows the ad cost is much higher than the impressions. The result is a lower ROI. What’s more is that Facebook has seen an average drop of 24% in time spent on the site.
Well, I think it’s the end of Facebook. There are many other platforms out there for people to use. Personally, I can say that I have found LinkedIn to be a useful way for me to build relationships. Before you say that it’s only professional, you have Whatsapp or Viber to keep in contact with close ones. It just doesn’t seem to be fruitful for me to get on Facebook and spend time there.
Other seems to be following in a similar trend given that less time is spent on the site. App developers are coming up with many things all the time. Who knows what’s next for us?
All good things come to an end. Facebook has experienced incredible growth and had an amazing run. It’s time that we move onto other platforms. Many other platforms will come to not only replace it but provide the same or better value.