I created my Facebook account in July 2007 at the request of one of our agency partners. Our creative agency had suggested that Facebook was going to be the next big thing and the time was ripe to launch a branded app. Our app, The "Acuvue® Wink" was launched in August 2007 and received an overwhelmingly positive response, with over a million winks sent in just four months.
Since then, Facebook has been marching toward its goal of 1 billion users. However, in the last year, signs of Facebook's popularity waning in mature markets like the U.S. and Australia have started to emerge. According to Experian Hitwise Australia, the time users spent on Facebook is down by roughly 21 percent in the last year (Fosum, 2012). In addition, the number of active accounts in the U.S. declined for the first time in 2011 (Lee, 2011).
Having been part of the Facebook journey from the beginning, I would like to share a few reasons behind why Facebook has started losing some of its glitter:
With Facebook's ad revenues down in the first quarter and the stock price still languishing below its launch price, it's time for Facebook to define how it will continue to be relevant to its 900 million users and at the same time deliver to its stockholders.
Home page photo from Shutterstock.
Meet Your Favorite ClickZ Contributors
Many of ClickZ's leading expert contributors will be at ClickZ Live, the new online and digital marketing event kicking off in New York (March 31-April 3). Hear from the likes of: Jeremy Hull, Lisa Raehsler, Andrew Goodman, Bryan Eisenberg, Mathew Sweezey, Aaron Kahlow, Stephanie Miller, Simms Jenkins, Jeanne S. Jennings, Dave Hendricks and more!
Mandeep has over 11 years experience of building brands with blue-chip organisations like Johnson & Johnson and Pfizer. He was recently promoted to head regional marketing for Acclarent, a division of Johnson & Johnson Medical manufacturer of cutting edge technology for minimally-invasive surgery. Mandeep is a recognised expert in integrating emerging media to drive business results. In 2007, he led the launch of one of the first branded apps on Facebook. The app was a finalist at Cannes and won the highest recognition for marketing excellence in J&J. In 2009, he pioneered the launch of the first iPhone app in J&J, which was featured in the Sydney Morning Herald as an example of innovation. Mandeep has spoken widely on social media, mobile marketing and multichannel marketing. He has authored for iMedia Connection and has been nominated to judge the AMI marketing awards for 2010 & 2011.
March 19, 2014