UK FACEBOOK USERS ABANDON FACEBOOK FOR OTHER SOCIAL NETWORKS – The world’s largest social network, Facebook, took a humiliating beating from UK users as nearly 1.4 million of them closed their accounts in favour of other social networks in just one month.
Records show that in recent months over 1 billion Facebook users globally deleted their accounts as they tire of their once favourite social network. In the last six months along over 9 million U.S users and 2 million UK users deleted their accounts.
Many analysts expressed their concerns over the sites longevity when it floated on the NASDAQ in 2010 with some predicting that Facebook had a shelf life of 8 years at best and that investing in the company would be an extremely high-risk investment.
From the reports most analysts believe the exodus is simply down to the ‘boredom’ factor as Facebook is failing to bring anything new and exciting to the platform; leaving users wondering why they bother to log in.
Investors are now worrying whether the initial analysis, from those who predicted Facebook’s shelf life, were indeed accurate and that Facebook would go the same way as MySpace; the once dominant force in online social networking.
Mark Zuckerberg, Founder and CEO of Facebook has announced that the social network is introducing some new features that will win back users and developments are being made to attract more smartphone users.
Recently Facebook introduced ‘Facebook Home’; software that users can download on certain Android phone that allows them to view news and photos that friends have uploaded to the network.
There are certain things that all websites require, in order to become and remain successful, and this is its ability to entertain and inform their visitors. Creating content where people spend more time on site is a critical factor and Facebook is showing a significant drop in the amount of time its users spend on the its network.
The explanation for the decline in ‘time on site’ is that more users are switching to mobile devices and people simply do not spend that amount of time viewing a page or site compared to those sitting in front of a personal computer. The trend now appears to visit, get done what needs doing and then leave.
Despite the declining figures in the U.S, UK and other parts of the world, Facebook is seeing a keen uptake in users from other countries, such as South America and India. In Brazil alone new registrations grew by 6% last month bringing the total number of Brazilian users to nearly 70 million while India has experience a 4% growth raising its user’s base to 64 million.
I for one don’t see any real cause for investor panic at this time. When you consider how many Facebook users there are globally it becomes a real challenge for Facebook to acquire more – everything has a saturation point and while Facebook is a long way off from this point it’s growth will understandably slow.
I honestly can’t say I’m a fan of Facebook and I restrict its use to simply posting my news articles. As an Advertising Channel I have yet to venture into the realm of using Facebook to promote meebal.com and from the information I have read online many say that it’s not worth the effort or expenditure.
Will the analysts be proven right in their predictions that Facebook has an 8 year shelf life? If so then 2 years have already run and within those 2 years we have already witnessed a decline in users, new registrations and more worryingly no substantial recovery to its opening share price of $38.00. Some analyst are skeptical that Facebook will ever reach above the $38 peak it did on its opening and will leave many investors taking a huge loss for their eagerness to jump on-board during the initial stock flotation.
What’s your take? Do you still use Facebook or have you deleted your account? Do you think Facebook has a business model that can prevent the company from going the same way as MySpace? Leave your views and comments below.