The End of Social Media 1.0 Brian Solis [29Aug11] - 0 views
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I would like to talk about an inflection point in social media that requires pause. I am not suggesting that there will be a social media 2.0 or 3.0 for that matter. Nor do I see the term social media departing our vocabulary any time soon. After all, it was recently added to the Merriam-Webster dictionary. Instead, what I would like to discuss is the end of an era of social media that will force the industry to mature. It won’t happen on its own however. Evolution will occur because consumers demand it and also because you’re willing to stake your job on it.
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The future of social media comes down to one word, “value.” Without it, businesses will find it much more difficult to earn and retain friends, fans and followers (3F’s). As adoption of social networks soared in previous years, growth is now plateauing. eMarketer estimates that Facebook growth will hit only 13.4% this year after experiencing 38.6% acceleration in 2010 and a staggering 90.3% ascension the year before. Facebook isn’t alone in its sobriety either. The rate of Twitter user adoption fell from 293.1% growth in 2009 to 26.3% this year.
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Between June 2009 and June 2011, the following changes were noted in Facebook activity: - Uploading videos is experiencing a modest increase around the world up 5% in the U.S. and 7.6% worldwide. - Installing apps is on the decline, down 10.4% in the U.S. and 3.1% worldwide. - Sending virtual gifts may not be gifts worth giving after all, with numbers declining 12.9% in the U.S. and 7.5% around the world. Twitter on the other hand is a rich exchange for information commerce, where links become a form of digital currency. For example, 45% share an opinion about a product or brand more than once per day. Another 34% of Twitter users also share a link about a product or brand more than once per day.
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