Is it just me, or is your Facebook wall jam-packed with baby photos these days as well? Single friends are threatening to abandon ship while new parents happily post pictures and videos on a daily basis. With Gen Y beginning to join the Gen X’s in moving on from the party lifestyle to tie the knot and start a family, Facebook seems to be turning into more of a family album than the rock ‘n’ roll collection of nights out and morning-after gossip that it used to be. What started as a college network has found itself facing adulthood.
In terms of Facebook’s mission, ‘giving people the power to share’ still makes this one of the most effective social tools for keeping in touch with family and friends, especially those spread across countries far and wide. But will it appeal to the next generation – the ‘net generation’ – in the same way?
With every generational jump comes the question of whether today’s trends and tools will endure the test of time. “Change is the only constant”, after all. Facebook, whose value is based on – amongst other things – development of user numbers, is now challenged with living up to the expectation that it is going to continue its growth path to deliver advertising audiences and opportunities for engaging a captured market way into the future.
Approximately one in thirteen people on earth are on Facebook, and today’s 35+ year old demographic represents one-third of the entire user base. Whilst the fastest growing group is currently the generation of 17-24 year olds, the percentage overall that they represent still remains less than that of people around the age of their parents. Even if the younger generation are comfortable with their parents seeing what goes on in their lives, but do they really want to be on the same social network as their grandparents? Judging by the 164 ‘likes’ for the Gen Z Facebook group, we might doubt they do!
With a global presence established, Facebook needs to continue expanding, adapting and extending its offer to appeal to new markets of consumers. Whether this means the fragmentation of the social network we know and love remains to be seen, but watch this space because it will be interesting to see how Facebook develops in a bid to maintain the value of ‘Facebook Inc’ into the future.
– Katy Branson, Head of Technology UAE at Hill+Knowlton Strategies Dubai