AdAge

2018 is the End of Social Media as we Know It

Michael K. Spencer
Sep 3, 2018 · 5 min read

The Death of Trust in Social Media

The era of trusting to get our news on social media is pretty much over, thanks to a number of controversies. This even as startups are seeking to leave Silicon Valley. The region’s prohibitive cost of living is sending startups and workers packing. According to The Economist, 46% of Bay Area residents say they plan to leave the area in the next few years, up from 34% in 2016.

The Exodus from Social Media Continues to Increase

Western consumers in North America and Europe seem particularly prone to leaving social media as Millennials mature and “get over” social media as an exercise in pointless digital consumption. At the same time, younger Millennials and GenZ are moving to video-first consumption. This is dire news for legacy feeds such as Facebook, Twitter and LinkedIn. The era of the algorithmic feed where personal, news and spam is all lumped together may be nearing an end.

It’s game over for social media in 2019.

Time to Grow Up and Move Out of Apps

An attention economy out of sync with a real sales funnel is proving problematic, to say the least. It also amounts to Facebook and Google nearly committing fraud for smaller brands that just want a piece of the pie and the ability to reach their target customers. This as Ads have lifted Twitter from irrelevance into contention again, in spite of shrinking overall users.

Social Media is Dying

Brands are over-estimating “community” and “influencers”. Many of those communities and vanity metrics aren’t even real. Silicon Valley have made it a habit to boast about their user growth that may not even be factually accurate or specific-enough KPIs to be throwing around. This means the system has been gamed, is corrupt and consumers have caught on.

Two million people under the age of 25 will stop using the social network this year, research firm eMarketer predicted. For the first time, the majority of US internet users between the ages of 12 and 17 won’t use Facebook once a month this year.

California has not shown a strong ability to copy trends out of China in a way that can retain their local users. We saw this with musical.ly and how they were acquired by ByteDance and we’ve seen this with E-commerce, micro video and live video trends. In spite of billions of users, we’re all leaving Facebook’s app-empire just as younger and more agile companies like ByteDance are starting off creating incredible in-app and video experiences.

FutureSin

Futurism articles bent on cultivating an awareness of exponential technologies while exploring the 4th industrial revolution.

Michael K. Spencer

Written by

Blockchain Mark Consultant, tech Futurist, prolific writer. LinkedIn: michaelkspencer

FutureSin

FutureSin

Futurism articles bent on cultivating an awareness of exponential technologies while exploring the 4th industrial revolution.