Has Facebook Lost Its Cool?
A number of years ago, I attended a presentation given by Paco Underhill, founder of Envirosell and author of Why We Buy: The Science of Shopping, in which he warned companies about trying to become cool. As Mr. Underhill explained, things that are cool eventually become uncool and, when that happens, it’s very hard if not impossible to recover. Instead, he argued for sustainable business strategies that avoid the peaks and valleys of trendy enterprises.
I recently thought back to Mr. Underhill’s presentation when a couple of the resident teenagers in the house caught me replying to a Facebook message from an old friend from high school.
"Dad, you’re on Facebook?"
"You do know that nobody goes on Facebook anymore, right?"
Now, I have to admit, I spend very little time on Facebook. I discovered early on that it’s a time drain that interferes with those things I really want to do in my life. But having the kids mock their old man made me wonder if their experience didn’t represent a small sample of Facebook in decline.
So-called "Facebook Fatigue" has been a subject of discussion for a couple of years. An article on The Verge website addressed the same topic earlier this month. It referenced an admission by Facebook in its 10-K that younger users might be seeking out other social media outlets. My kids tell me that everyone is using Instagram these days. Not me, but then again, I’m not cool.
Is Facebook losing its coolness factor? What does this mean for retailers using the social media site? Can you suggest ways Facebook can stay relevant with younger users?