Facebook users are less happy with the content in their News Feed than they used to be, and they’re using the platform less, according to new research we released this week. But it’s been a good week for Foursquare, which got a $15m infusion from Microsoft that will keep the doors open for the foreseeable future.
41.6% of Users Say Facebook is Less Interesting; Only 8.1% Say More
A new survey of 605 U.S Facebook users conducted by us at Ignite Social Media was released this week and found that 41.6% of users find the content less interesting (8.1% more). 43.2% say the content is less relevant than 6 months ago (12% more). As a result, 34.4% of users say they are using Facebook less than they used to (16.6% more). The changes to the Facebook algorithm that are bothering marketers are also bothering users. The Facebook platform team needs to be course corrected by Mr. Zuckerberg ASAP so they increase the speed of the feed, or this decline in usage could turn into a huge threat to their revenue growth. Take a look at the survey and, if you find it interesting, please share it with your networks.
More Research Shows Importance of Social And Product Sales
Two new pieces of research to share. First, Harvard Business Review released a great article about “Influence Mix” and the shift between the power of Marketers (M), prior beliefs (P) and input from others online (O) over the last decade or so. For some products, like milk, P dominates buying decisions. For small purchases, like a toothbrush, M (including packaging and brand name) dominate. But for more and more considered purchases, O is much more important than it used to be. This article is worth a read, and may be worth sharing with your marketing leadership team. Plus, you’ll look like you’re super smart, because you read HBR. At the same time, research from Harris Interactive found that younger people (44 and under) are much more likely to be influenced to buy something from social than older folks.
Microsoft Bails Out Foursquare with $15m Investment
Microsoft now owns part of Foursquare, and the investment gives Foursquare some breathing room. Rumors earlier this year persisted that the location based app would run out of money soon. But this investment not only provides cash, but assurances that Foursquare data will power more Microsoft products. Location is among the next big things for Google, Microsoft and others, so this move makes sense to me.As you head into the weekend, this article will make you think: Is Real Time Marketing, once the hottest of social media buzzwords, already dead? Reaction to brands during the Super Bowl suggests we should all be careful here…