The Irish Times last week reported a forecast produced by Princeton University which claims that the social media giant Facebook will be largely abandoned by 2017 . The article says that:
The social network, which celebrates its 10th birthday last February, has survived longer than rivals such as Myspace and Bebo, but the Princeton forecast says it will lose 80 per cent of its peak user base within the next three years.
While we don't agree that Facebook will fall that far, certainly not that quickly, we have been reporting since 2012 that we feel Facebook is in decline, that the exponential grown Facebook had in the years leading up to 2012 might be slowing down. In the more mature markets like the United States and the United Kingdom, Facebook has been losing users by the million. This downward trend in the US and UK is starting to be reflected in Ireland for the first time.
Lots of small businesses fall into this ill informed trap of thinking that Facebook is all you need to do market yourself online, this has always been am utterly flawed idea, but if this recent Princeton forecast is to be believed, it could prove to be a complete waste of time in the very near future.
We have long advised our clients not to think that Facebook is a substitute for your own Website. We have always advised that you take a website centric approach to your digital marketing, that when it comes to the internet, there are a myriad of reason your website should always be the central hub of your efforts.
Even at it's peak 1 in 2 Irish people were on Facebook. This statistic sounds impressive initially but if you think about it, that means 1 in every 2 people are NOT on Facebook. So if you are concentrating solely on Facebook marketing and ignoring everything else, you are missing out on at least 50% of your potential market!
Facebook should be just one prong in your overall Digital Marketing Strategy not your entire digital marketing strategy.