19 Apr What Does Facebook’s Drop Mean for Your Business?
Billions of folks may be checking into Facebook to update their status or check their friends’ posts, but apparently, they are not sticking around like they used to. This cleared the way for sites like YouTube and apps like Waze to take the lead on how consumers are spending their time.
Diversify Your Outreach
So, what does this mean if your business uses primarily Facebook to attract customers or advertise a service or product? For starters, don’t put all of your eggs in the Facebook basket. Diversify your outreach. If you haven’t thought about other avenues for targeting your audience, now is the time.
According to Brian Wieser, senior research analyst for advertising at Pivotal Research Group, there’s “a widening gap in the consumption rate for people using Google versus Facebook: Google’s YouTube, Google and Waze combined to account for 27.4% of all time spent on digital media.” There was “substantial growth in the share of consumer time for Google properties from search to Waze, and continuing erosion in the share of consumption time for Facebook,” according to Wieser.
Has Facebook Lost Its Appeal?
What’s even more bad news for Facebook is that people are spending less time overall on the platform, despite an increase in users. Or can they rebound, offering consumers more of what they want – even if they aren’t sure what that is yet?
Don’t Wait To Find Out
The bottom line is: The public may be loyal to Facebook for certain types of outreach and searches, but Facebook is not giving them everything they need in one setting. So too, your business must rest on its laurels with just a Facebook or Twitter feed. How else can you reach your audience? Don’t wait until they’ve left to find out.
The GillespieHall team understands how social media platforms can impact your business and which outlets are best for your brand. Contact us to learn more.