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Facebook Is a Trophy Wife and You’re Not the Dude

Filed under: Social Media Strategy — Tags: , , — David Passiak @ 11:54 pm

I’ve worked in social media since before Facebook was introduced to Harvard undergraduates and the term “social media” existed.  Now a 50 billion dollar company, I’m consistently struck by the disruptive impact of Facebook’s executive decisions that force developers, advertisers, and corporate partners to rethink and adapt well-planned business strategies.

Privacy settings, API changes, terms of service, user interface design—all of these core aspects of the platform must be carefully evaluated when multi-million dollar brands make decisions on how to build and engage their communities.  And they change unannounced, fan pages become deleted without notice, forcing seasoned executives, developers and legal teams into crisis mode.

There is a consensus of opinion between almost everyone I know that the industry is hostage to Facebook because the platform is gatekeeper to 500 million+ consumers.  But as a long-term life partner, the relationship is one sided.  There’s no listening, no feedback, you shower it with money and get no reciprocal love back.  It’s like the young trophy wife Bunny in the Big Lebowski—pretty, attractive, and enticing, a status symbol that ultimately doesn’t listen to your needs.

The initial appeal of Facebook to early adopters was its open platform, which spawned a literal gold rush of innovation in applications fueled by eager investors and marketers.  The symbiotic relationship that once drove the meteoric growth was exciting as new romances often are, but now that mature businesses have to plan for the future, raising the communities we helped give birth to into mature children looks like a one-sided picture.

The truth is, corporate partners want to appear like The Dude, care free and easy going, but the reality is they are more like Mr. Lebowski—the other Jeffrey Lebowski, disabled, unable to adjust so easily because some Chinaman took his legs in Korea.  They want Facebook to be at the center of their marketing strategy, to have fun working together and nurture a relationship with millions of people that visit the platform every day.  But look at a pattern of erratic behavior and your gut instinct tells you that Facebook married you for your money.

Like being married to a young trophy wife owing money all over town, companies spend millions in unnecessary staffing and development costs attending to details and last-minute changes.  It’s akin to the scene in the Big Lebowski when Bunny returns at the end and—oops!—she just forgot to tell everyone that she was leaving for a while.  There was no kidnapping after all, but we have to act like there was one—always, because unfortunately we just can’t plan that far ahead.

Let’s hope with a $50 billion dollar valuation and investors like Goldman Sachs that Facebook will grow up a bit.  Enough building new features and making decisions that leave us frantic, take some time to think about your corporate partners, who would love to hop in the convertible and head to Malibu on a moment’s notice but unfortunately have infrastructures more akin to a wheel chair.  If not, perhaps it’s time to file for a divorce, and reluctantly pay alimony but shift your marketing dollars towards building a lifelong partnership with a platform more reliable—a social media partner that really wants to raise a little Lebowski.

The Gentrification of Facebook

gentrification

Facebook has grown exponentially particularly among 35-54 y/olds, who continued to be the fastest growing demographic at an even more accelerated rate of 276% in the last 6 months.   You can examine the 2009 statistics thanks to iStrategyLabs

I believe this growth pattern can be understood by what I call the gentrification of Facebook.  Here’s my hypothesis:

Facebook began as a network exclusive to college kids, who had to reach a critical mass of 1,000 per school to enter the network.  As Facebook opened up to the public, it then opened up its platform to third-party developers to build a variety of applications.  “Cool” innovators flooded through the gates, quickly giving rise to what could be considered an online gold rush.

Venture-backed companies, agency and marketing folks, and developers built a seemingly limitless number of applications that were quickly added and shared, and “social media” entered the marketing vernacular as the new umbrella term for these types of innovative technologies.  This accelerated adoption beyond the college kids and eventually snowballed to make the 35+ demographic the fastest growing on Facebook.

The ironic thing is that nobody uses applications anymore, perhaps because the concept was canibalized by so many bad applications.  Few are very useful or relevant, and they are on the way to becoming a novelty item used only by marketers who are six months behind the curve, particularly with the newly revamped fan pages.  As this happened Facebook also put in place minimum advertising buys at $100k/month, the rich folks had indeed started to take over the neighborhood.

The pattern I see within Facebook strikes me to be similar to the gentrification process I’ve witnessed in my neighborhood of Williamsburg, Brooklyn.  The trendsetters of innovative artists were replaced by trend followers of rich NYU kids, and ultimately prices in rent rose, new restaurants opened, and the wealthy people opened profitable businesses and developed condominiums.

I think gentrification is really a name to describe the canibalization and consumption of cool, and it can be traced through discrete sites created to facilitate exchanges.  In my neighborhood this would be between the new businesses and the “hipster” – a pejorative trope for the jaded kid that was too cool to do anything productive – whereas within Facebook it would be the profile holder and the application developer.

In the wake of the application gold rush status updates became the most significant feature for many users, fueling a frenzy of friend adding to establish a social network defined by short conversations, comments, link sharing – the types of menial distractions professionals love during a work day.  It will be interesting to see how Facebook continues to evolve in the future, but what I really want to know is, what are all the cool kids up to now that applications are no longer cool?

Pic below a piece of social commentary on gentrification from Williamsburg, Brooklyn, taken last weekend on my iPhone.

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