Facebook has dominated the social media space and much of the greater online landscape for the last decade or more. Facebook essentially wrote the book on what it means to be a social media platform. At the end of the day, it is a product. And all products go through a life-cycle. Facebook may very well be entering into more of a maturity phase. It is inevitable to see a shift in user behavior and consumer perceptions of the platform.
However, negative Facebook news seems to have accelerated change. Pew Research indicates Americans are changing their relationship with Facebook. This is particularly true with Millennials. Does this spell the end of Facebook's reign as a highly effective marketing channel? Not by a long shot.
In the last year, a number of events have triggered backlash against Facebook, largely amid controversies surrounding online privacy and ethical data usage. These are of course very legitimate and important concerns, but they are not confined solely to Facebook. In some ways, it became the scapegoat for what is a much larger issue that extends into all aspects of our digitally connected lives. In the wake of these events, Facebook has not only worked hard to fix issues on its end in a reactionary manner, but also is proactively taking steps to protect its users, now and in the future. Some of these steps will impact the ways in which marketers can utilize the platform. But Facebook has not forgotten that marketers and advertisers are what keeps the platform alive. User experience and satisfaction are Facebook's number one priority. But it will remain a lucrative marketing channel for many years to come, so long as advertisers are working in a way that also honors the experience of the user.