Facebook the Social Media Company for Grandparents Is Losing Customers for the First Time
The favorite social media company of Grandparents everywhere Facebook, has found themselves in an unusual position. For the first time in 20 years, the Verge reported that Facebook, they did not add any new users. Instead they lost roughly 2 billion users.
Last year was an exceptional year for Facebook. The company had high hopes when they announced a rebranding to Meta, and their foray into a new online virtual world.
Then came this news:
The company has had a history of heavy-handed tactics towards their user base. They would shut down vast groups and users' business accounts. Often without prior or vague notice, not even giving their users a strike, or allowing them a chance to remove offending content. At least YouTube has the courtesy of giving their users 3 strikes before canceling from their platform.
Facebook also very much sided with the political left in the last election. This is a tactic large corporations often use to offset new regulations with the party expected to be in power. Having banned many high-profile conservatives, and groups from their platform means this strategy will work out well for the company in the short term. But they may be in trouble after the next election. If the political pendulum swings the other way, they may have found they kicked the proverbial hornet's nest.
Maybe Facebook does not care, when you're a giant corporation that's made billions in revenue, you live in a world far above ordinary people. But what many large companies can soon forget is the same people you are trampling on today, were the same people that once may have sung your praises.
These former customers did not go anywhere, most are all still out there. Only now they are singing someone else's praises. This may not happen all at once, but a trickle can easily become a flood and a flood can become a torrent. Just ask big cable, who were laughing at the small number of cord cutters who became fed up and cut the cord ten years ago. With the massive amount of former cable customers who cut the cord today, they no longer are laughing now.
Facebook stock dropped 21% on the news of their last quarter results. With advertising revenue dropping, the company also lost a lot of money. And it remains to be seen if this trend will continue. But the company will lose much more if more of their users choose to cancel them.
The Verge Reported in the last quarter of 2021, Facebook averaged 1.929 billion daily users. That was 1.93 billion daily users less than the quarter before.
Facebook Not Without Some Controversy
The company has had a history of heavy-handed tactics towards their user base. They would shut down vast groups and users' business accounts. Often without prior or vague notice, not even giving their users a strike, or allowing them a chance to remove offending content. At least YouTube has the courtesy of giving their users 3 strikes before canceling from their platform.
Facebook also very much sided with the political left in the last election. This is a tactic large corporations often use to offset new regulations with the party expected to be in power. Having banned many high-profile conservatives, and groups from their platform means this strategy will work out well for the company in the short term. But they may be in trouble after the next election. If the political pendulum swings the other way, they may have found they kicked the proverbial hornet's nest.
When You Alienate A Large Percentage Of Your User Base, Why Expect a Different Results?
Maybe Facebook does not care, when you're a giant corporation that's made billions in revenue, you live in a world far above ordinary people. But what many large companies can soon forget is the same people you are trampling on today, were the same people that once may have sung your praises.
These former customers did not go anywhere, most are all still out there. Only now they are singing someone else's praises. This may not happen all at once, but a trickle can easily become a flood and a flood can become a torrent. Just ask big cable, who were laughing at the small number of cord cutters who became fed up and cut the cord ten years ago. With the massive amount of former cable customers who cut the cord today, they no longer are laughing now.
Facebook stock dropped 21% on the news of their last quarter results. With advertising revenue dropping, the company also lost a lot of money. And it remains to be seen if this trend will continue. But the company will lose much more if more of their users choose to cancel them.
There is still time for Facebook to turn this around, but unless they take a kinder and different approach to their remaining user base. They may soon join Myspace, another company that was the most popular social medai platforms.
Less Restrictive Social Media Alternatives to Facebook and Twitter:
- MeWe
- Telegram New Cord Cutters Group
- GAB
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- GAB
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Use of third-party trademarks on this site is not intended to imply endorsement nor affiliation with respective trademark owners.
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