Things are certainly changing in the social media realm, but alas, change is the only thing us marketers count on. We can always bet on something new and fresh coming in to eclipse the last social media fad, what is unique, however, is the effect and speed of these changes.
2017 was the first year to see a drop in the time spent on Facebook every day, which declined by 5% or 50 million hours in total. Additionally, Facebook saw the number of North American users fall for the first time, from 185 to 184 million. [source]
Marketers, however, don’t need to say goodbye to their Facebook loyalty quite yet. 2017 actually saw a 47% increase in ad revenue for the platform. And just because North American presence is wavering doesn’t mean Facebook isn’t accruing new members from around the world each day.
And in other news, Snapchat’s market value has been going through a tumultuous bout. Earlier this year, after their first profitable quarter, the platform’s stock shares plummeted by 6.1%, losing $1.3 billion in their market value. What does this mean for marketers? While Snap tries to rehabilitate itself with unique content that can’t be instantly mimicked by Instagram (such as this true crime show), we’ll spend our clients’ money elsewhere for the time being. In fact, we had a great time using Instagram Stories while covering the Oscars for our client, Piper-Heidsieck.
And in lieu of Facebook and Snapchat’s number declining, it looks like Pinterest is on the upswing. Its traffic-driving potential grew from 2016 to 2017, but whether it can maintain those numbers and actually drive revenue? Only time will tell.