Since its launch in February 2004 at Cambridge, Massachusetts, United States Facebook has been the leading social media platform all around the world. There was a time when Facebook enjoyed an absolute dominance over the social lives of people.
But that was before new social media platforms like Instagram, Snapchat and Twitter came up. And of course before the data breach and security scandals of Facebook.
When Facebook came onto the market, people starting questioning the position of Orkut. But after the breach into the data of Facebook by Cambridge Analytics, an analytics firm working for the Trump presidential campaign and a subsequent drop of about $120 Billion dollars in the market capitalization of the company, people are questioning the position of Facebook.
Facebook without any doubt is the clear leader in terms of users among the social media sites out there. However, it is a well-known fact that after the data leak and the drop in market cap, Facebook is going through really tough times.
Some of the high-profile users such as Elon Musk, Will Ferrell, Jim Carrey and Steve Wozniak have reportedly deactivated their Facebook accounts over data-security issues. All this is a part of public shaming of what they call unethical and unsafe privacy practices.
This has resulted in a major setback to Facebook. But it does not stop there. According to a survey by the Pew Research Center; Facebook is no longer the most popular online platform among American teens. Most teens prefer to use YouTube, Instagram or Snapchat in the time they spend online. Facebook was initially their first preference but that has changed.
Now that the audience is shifting its attention from Facebook to other social media sites, the question being asked by brands and businesses is:
Is it time to move away from Facebook?
Clearly the aim of social media marketing for any firm is to reach out to their audience on social media platforms. But what should to do on a social media platform where they have no audience? The answer is pretty simple; change your campaign strategy.
It’s not just the shifting audience but also the new marketing opportunities being provided by other social media platforms that are luring the brands to adjust their focus. Let’s have a look at some of them:
1. YouTube
With YouTube having the second highest number of daily searches after Google, it presents a large user base. Millions of users visit YouTube every day. This makes it a useful platform for digital marketers to focus on.
2. Instagram
Instagram has been very active lately in improving user interaction, which is one of the primary goals of social media marketing. Updates like IGTV and Question Sticker seem to be some of the most promising updates for user interactions and marketing opportunities.
3. Snapchat
Snapchat is a relatively new social media platform with a lot of hidden potential for business promotion. As a part of providing an opportunity for business, it has even made a dedicated business webpage not known to many till now. https://forbusiness.snapchat.com/
4. LinkedIn
A professional platform like LinkedIn has a lot to offer brands. The best way to connect to high-profile businessmen and top-level management today is LinkedIn. You can find almost all professional profiles on LinkedIn and easily interact with them, which can prove to be of significant benefit to your business.
5. Twitter
With hashtags being the simplest way to start a campaign or to get the attention of the masses, Twitter is certainly a beneficial platform. Whether you want to spread awareness or launch a new product, Twitter is one of the best places to start.
All these platforms, and the opportunities they offer, are providing a strong new market area. Marketers have started to shift their focus and pay more attention.
But can Facebook be ignored?
Now that we have talked about Facebook starting to fade, there are some other aspects to this which show a much more promising future for the social media platform.
The fact that Facebook, in spite of seeing millions of users leave, still has the largest number of users compared to any other social media platform shows that it still has a fighting chance. It still is the foremost social media platform with a reach of billions of people worldwide.
Out of the billions of users on Facebook, more than half are 18-35 years of age. This age group represents the actual customer base for most businesses. Having such a large customer base makes Facebook very attractive to businesses of all niches especially since they are the actual buyers of products and services.
Of all the other social media platforms discussed above, Facebook provides the widest variety of content formats. It gives you the option to post Text, Video, Image, Live videos, etc. This presents the opportunity of having a larger number of users engaging with your content. Also, you can target users with varied interests.
One of the features that marketers love about Facebook marketing is the vanity URL. Facebook gives you the option to create a vanity URL for your Facebook page. Having a vanity URL makes it easier to remember and share. It even builds trust.
Facebook’s share price has dropped and its founder has accepted that there were some “mistakes” made by the company. But it’s also a known fact that Facebook is aggressively working on improving its situation and resolving its problems.
Facebook is also taking a close look at thousands of apps that have some access to the accounts of their users. This could be a boon to Facebook and the app owners as well.
The discussion goes on…
It is clear that Facebook still has the potential associated with billions of active users. And, these users are not going anywhere anytime soon. It’s true that Facebook is experiencing hard times but overlooking the advantage of a Facebook campaign is a luxury which can cost a fortune.
Shifting focus to other social media platforms is a wise move, but the same cannot be said for moving away from Facebook.
