As many other competitors jump in the market to contest for social media dominance, world’s largest social network, Facebook, has reportedly started losing its users mainly in developed countries like the U.S., U.K., Canada and some parts of Europe. The reason behind losing the customers is said to be the boredom factor that the existing users are facing, apparently because the network has already reached its peak and has nothing more to offer to these customers.
That said, the room for growth in developing countries is still very much there for Facebook as many countries like India with high population are yet to adopt and use the social network completely and only a part of the large population use it. This has created room for further growth in these markets, but since the network has already reached its peak in the main developed markets, it has started losing customers to other competitors.
In a recent article, Guardian mentioned:
“In the last month, the world’s largest social network has lost 6m US visitors, a 4% fall, according to analysis firm SocialBakers. In the UK, 1.4m fewer users checked in last month, a fall of 4.5%. The declines are sustained. In the last six months, Facebook has lost nearly 9m monthly visitors in the US and 2m in the UK.”
It quoted a new media specialist Ian Maude at Enters Analysis as saying:
“The problem is that, in the US and UK, most people who want to sign up for Facebook have already done it. There is a boredom factor where people like to try something new. Is Facebook going to go the way of Myspace? The risk is relatively small, but that is not to say it isn’t there.”
Guardian said about the developing markets:
“Facebook is still growing fast in South America: monthly visitors in Brazil were up 6% in the last month to 70m , according to SocialBakers, whose information is used by Facebook advertisers, while India has seen a 4% rise to 64m – still a fraction of the country’s population, leaving room for further growth.”
While Facebook also realises this reality, it is yet to come up with any formal version to address this issue. However, there is no denying that the network will have to come up with something new and exciting in order to retain young users because if it does not happen it will lose customers even in the developing markets once they reach their threshold.
Photo: StreamCompanies
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