Facebook vs Generation Z: Are the social media kings losing the youth vote?
Digital marketing has never been more important for companies looking to grow their brand. And social media has never been more important to effective digital marketing.
Like any young industry, social media is a volatile market, with the major players’ influence constantly fluctuating as they jostle for users and audience attention.
Since Facebook entered the game in 2004 though, they have seen very little fluctuation. They’ve enjoyed massive year-on-year growth to establish themselves as the social media kingpins, their 2.2 billion monthly active users marking them as the most popular platform on the planet.
Think about that – just shy of one third of the planet’s population log into Facebook at least once a month.
Inevitably, with such a massive reach, Facebook has become an accepted aspect of many people’s day-to-day lives. A casual observer would be forgiven for assuming that’s unlikely to change.
Britain has proved as unable as the rest of the world to resist the American giants’ charm. 31.7 million people used the platform every month in 2017 according the data collected by eMarketer.
But could that be changing?
Research suggests that British youngsters are turning their backs on Facebook. And while an uptake in older generations is protecting overall figures, the fall-off with under 25s is stark.
Projected figures predict 7.7 million people aged between 12 and 24 will regularly use Facebook in 2018 – 700,000 fewer than in 2017.
Although some of those may migrate to Instagram, which was purchased by Facebook in 2012, many will be lost to the company.
“Facebook has a teen problem,” said Bill Fisher, UK senior analyst at eMarketer.
“This latest forecast indicates that it is more than just a theory. Until now it has been able to rely on platform shifters being hoovered up by Instagram. However, leading the charge for younger audiences is Snapchat. There are now some early signs that younger social network users are being swayed by Snapchat.”
“In general terms we expect social network users under age 24 to show declining interest in Facebook as time goes on,” Karin von Abrams, principal analyst at eMarketer, added in The Independent.
“Facebook may have been central to defining the social media category, and it still has many uses. But younger consumers in particular are looking for something beyond utility.
“They want novelty and exclusivity too; the search for the latest buzz in social media will continue to lead them away from Facebook.”
All of this brings us to a crucial question: has Facebook reached the peak of its potential? Traditionally the platform has been used to share pictures, message friends and catch up on news, but with Instagram, Whatsapp and Twitter respectively filling those roles as specialists, what is Facebook’s purpose?
On top of this, as the over 50s sign up in increasing numbers, will younger generations be put off by the idea of their parents and grandparents having a window into their lives?
Of course, Facebook commands 2.2 billion monthly users – times aren’t that tough. Cycles of development are natural, and with their limitless budget who’s to say which direction the social media kings will take to retain their crown?
One thing you can be sure of is that this competition will only benefit us as consumers. As the big players in social media tussle for relevance, they will continue to push for the initiative with innovative ideas.
Here at Orfi Media, we’ll be doing our research to make sure we catch on to new trends first.
But in the meantime, we want to hear from you. Is Facebook still your go to platform? And if not, which is? Let us know in the comments below, and we’ll get back to you. Let’s start a discussion!
