AUDIO: Facebook Is Here to Stay

by Alyssa Oursler | July 9, 2013 11:46 am

Ever since Facebook (FB[1]) botched its IPO just more than a year ago, it has become a common and easy target for critics. People are tired of Facebook[2], everyone says. And kids prefer Twitter[3]! I even wrote a piece earlier this year noting that the company’s move toward monetization might please investors … but could annoy Facebook’s increasingly disenchanted users[4].

Of course, right after I wrote that piece, I likely logged on to check my own personal Facebook account.

And that’s precisely why Facebook and other social platforms aren’t going anywhere, says MyLife.com[5] founder and CEO Jeff Tinsley.

MyLife.com just released a national survey of social media behavior and found that social networkers are growing even more overwhelmed with juggling the increasing number of social networks and email accounts they manage, with many actually taking “social media vacations.”

However, Tinsley — who has nearly two decades of experience in consumer and business Internet — says users love social media and especially Facebook, despite their complaints.

Importantly, more than half of users are scared they will miss out on something if they cut the cord. That explains why they’re not leaving one site for another, but instead managing multiple accounts. As he put it:

“Close to 50% of Facebook users are also using some other type of social networking service. They all seem to be growing, with the most popular being LinkedIn (LNKD[6]), Twitter, Instagram, Pinterest — the ones that everyone knows. People are using multiple services, and they have different connections on the different services. “

As a result, social media isn’t going anywhere — probably ever, he says.

Get Tinsley’s full take on the social media landscape by listening to the clip above.

As of this writing, Alyssa Oursler did not hold a position in any of the aforementioned securities. Follow her on Twitter: @alyssaoursler[7].

Endnotes:
  1. FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB
  2. People are tired of Facebook: http://investorplace.com/ipo-playbook/more-evidence-of-facebook-fatigue/
  3. kids prefer Twitter: http://investorplace.com/2013/05/pew-study-teens-leaving-facebook-for-twitter/
  4. could annoy Facebook’s increasingly disenchanted users: http://investorplace.com/ipo-playbook/annoyed-users-an-oft-ignored-facebook-metric/
  5. MyLife.com: http://www.mylife.com/
  6. LNKD: http://studio-5.financialcontent.com/investplace/quote?Symbol=LNKD
  7. @alyssaoursler: https://twitter.com/alyssaoursler

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