What started as a small news story by a coroner sparked a Twitter trending topic, and now a NTFM assignment. R.I.P Facebook. Is the social media giant on life support, or is it in rude health?
First, a few stats and figures:
Facebook themselves claim to have .845 Billion users as of December 2011.
Somehow, I don’t see Mark Zuckerberg being too worried, these are astronomical membership figures, and Facebook has no true competitors in the social media marketplace at this time. Twitter serves a different purpose, and with its 140 character limits and lack of social gaming or app fweatures doews not offer anywhere near the interactivity that Facebook does. Google+ has not been adopted by anywhere near the numbers expected.
Plus, Facebook has beaten Bebo, Myspace, Friendster, Hi-Five and numerous others that attempted to compete with it. It is a juggernaut of social media.
Facebook is in a position where it can extend it’s brand into other areas, which will guard against future competitors and creat new revenue streams( possibly a synchronised YouTube style video site?)
But social media users are a fickle bunch, and our loyalty can be bought and sold for less than a Farmville micro-transaction. Facebook will need to continuously improve and stay fresh if it wants to avoid becoming just another tombstone in the graveyard of social media.