Nigerian software developer and founder of Hotels.ng, Mr Mark Essien, recently opined that that the days of Facebook could be over soon. Taking to Twitter, the entrepreneur argued that no matter what Facebook does to stay in business, “it will die” eventually.
Many people have lost interest
Apparently, Mr Essien has lost interest in the popular Social Network site. And he is not the only one that feels that way. As a matter of fact, the crave for the Facebook has drastically reduced. And this is because people are bored and in search of somewhere else to engage their interests.
Facebook is making effort to sustain people’s interests
On its part, Facebook has acknowledged this problem, and has been making effort to recapture people’s interests. But as Mr Essien said, no matter how much Facebook tries to fix things up, a time will come when people will eventually just ignore it
No matter what facebook does, it will die. Has there ever been a case where a dying social network woke back up? Once a place people hang out gets uncool, it stays uncool. Folk are just waiting for the next place to go to – or perhaps they will now just go to different places.
— Mark Essien (@markessien) March 15, 2019
What could be the course of this?
With the emergence of other social network sites like Twitter, Instagram, and SnapChat, Facebook’s dominance/appeal has been on the decline.
Agreed, some of these other social networks platforms offer the similar features as Facebook. Some are even owned by Facebook itself. Maybe by the time Facebook becomes “completely uncool”, people would have new alternatives to switch to. Otherwise, they would just have to make do with the other available platforms, including Instagram.
Yea they'll go to Instagram which belongs to fb ?
— New Venturas (@NewVenturas) March 15, 2019
Are there possibilities for Facebook to fully go extinct?
Some of those that responded to Mr Essien were more concerned about the actual possibility of Facebook going extinct. According to him, this is nearly impossible, because Facebook still provides social bonding for many people.
Another response argued that Facebook’s competitors (i.e., SnapChat, Twitter, etc) are basically doing the same thing. For now, there is nothing threatening the popular app, they argued. After all, why would people switch to other apps that actually provide the same service?
The questions is, what will replace it. Is it something new? If it is something new, what about the network effect that serves as competitive advantage? If it is a platform that is old e.g twitter, snap chat etc. why on earth should people switch?
— Dayo Moyo (@dayo_moyo) March 15, 2019
In the meantime, Facebook still remains the most used social media platform in the world. It has over two billion monthly users, followed by the likes of YouTube, Whatsapp, Messenger, WeChat, and Instagram, etc.
Facebook will die?
Mark is very funny.
There are new data to show that the social media giant is growing.
I mean, it’s next after IG,which belongs to them.
Yes, they are currently having issues but that isnt common with a big unicorn that is growing.
Yes, they had issues with the last election in the US but they are opening up the space even more. As a marketer, I’m even crying that FB is giving my competitors too much info about the ads i run but they are doing that to open up the space and show more transparency.
As someone who spends thousands of dollars in ad spend on FB and with crazy ROI of between 26% and 5000%, i don’t see FB dying soon.
Johnson Emmanuel