Is It Time To Stop Marketing On Facebook?
When it comes to Facebook, many users are singing the popular Clash song from the eighties, should I stay or should I go? This topic has become a hot-button issue since recent reports have shown an overall decline in Facebook user growth and in October of 2014, Mr. Zuckerberg got a spanking on Wall Street when his stock dropped by 9.7% in some after hours trading.
Some blame these decreases in numbers on their purchase of WhatsApp for $22 billion, when figures were later released showing this acquisition only garnered earnings of $15 million during the first half of 2014 despite having 600 million users.
With their overall growth on the decline, more adolescent users are actually leaving Facebook at an alarming rate with around one million teens signing off each year since 2011. While other sites like Pinterest and Twitter continue to make improvements, many are questioning the possible stagnation of Facebook.
Is it time to break up with Facebook and seek a stronger marketing relationship aboard other social networking platforms?
By The Numbers
At first glance, these figures may look depressing for Mark and his online friends, but don’t give up on the social giant just yet, as Facebook is still crushing the competition. Global rankings show mighty search giant Google in the number one slot online, followed by Facebook, while Twitter is in the top ten at number nine. Pinterest shows up at number twenty-eight followed closely by Instagram at thirty-one.
Many marketers are seeing better Facebook results when they cross channel with other platforms—Google+, Instagram, LinkedIn, Pinterest, Twitter, etc. For example, Starbucks is reigning supreme on social by grabbing four out of the top five slots for restaurant users by successfully using an approach that crosses many different social networks.
Although the younger crowd may be turning away from Facebook, more of our older generations are climbing on board. With pharmaceutical advances and growing medical technologies, the number of people in their golden years will continue to increase in the many years to come. The U.S. Census Bureau predicts that one in five Americans will be over the age of 65 by the year 2030, an important new demographic and this larger audience that will eventually have more significance than younger, teenage users.
According to a Business Insider article, there is other demographic data worth considering when it comes to marketing on different social media platforms, including Facebook:
- Women outnumber men by over ten percentage points on Facebook.
- More men are using Twitter than women.
- Facebook is still the number one platform for teenagers despite a decline in growth.
- Amongst those younger users, more teens are now leaning towards Instagram.
- More than half of Snapchat users are under the age of 24, while the same younger audience makes up only 28% of Instagram’s photo-sharers.
- LinkedIn engages with more adults than Twitter.
- YouTube reaches more young adults than any single cable provider.
Instead of wondering whether or not we should be leaving Facebook, we should be asking ourselves how to market more effectively on this popular platform. The solution should include hooking up with some of the networking competition on social media so we can better complement our online Facebook marketing.
Nick Rojas is a business consultant and writer who lives in Los Angeles and Chicago. He has consulted small and medium-sized enterprises for over twenty years. He has contributed articles to Visual.ly, Entrepreneur, and TechCrunch. You can follow him on Twitter @NickARojas, or you can reach him at [email protected]