02/24/08

A few weeks ago, the popular Web 2.0 blog Mashable started a poll with the question, “Are you suffering from social networking fatigue?” Get this: last I checked, 73% have replied yes. And this is a site essentially devoted to the social networking movement! In fact, it was the first major blog I know of that tried to morph itself into a social network. (Yes, it’s one of many networks I’ve joined in the past year.) Well, I guess I admire Mashable’s honesty, anyway, for seemingly bringing into question its own future by running such a poll.... :-)

Yes, a bit of the bloom seems off the rose lately. The media began giving us an almost continuous barrage during January about how social networking was losing some of its luster—which of course those same media had built up, incessantly, in the first place.  Okay, that’s what the media seems to do....maybe you’ve noticed?

Anyway, I’ve been planning to blog about this for at least the last three weeks, but I found myself just wanting to continue to track what’s being being said out there—to maybe bring some kind of a balance to the discussion.  I even planned to use a chart from Compete.com (see right) that revealed how Facebook’s unique visitors had dropped off in January. Then, lo and behold, just today I found a post on TechCrunch that kind of stole my thunder: Facebook Fatigue? Visitors Level Off In the U.S.—which showed a chart published by comScore that showed the same thing as my Compete.com chart. So, I decided I’d better just do my post.

Here’s a look at just some of the headlines and blog posts that have come at us lately, all essentially putting down the social network phenomenon in some way:
- Generation MySpace Is Getting Fed Up (BusinessWeek)
- ‘Facebook fatigue’ kicks in as people tire of social networks (The Register, UK)
- Bill Gates Joins The Growing Social Network Exodus (TechDirt)
- ‘Billg’ quits Facebook (The Register, UK)
- Is America Tired Of Social Networking? (Pinny Cohen blog) Excerpt: “...it appears that we have reached the point where just living half your day on a social network is no longer as exciting as it was when it first came out, given the stats. The fad is over - at least for the moderately web-aware Americans. Now the real test of the usefulness (italics mine) of these networks begins, and its ability to create a large niche market for career advancement, event planning, and organizing for a cause.”
- It’s Hard to Hide from your ‘Friends’ (Wall Street Journal) Excerpt: “Online-privacy debates used to center on how Web sites share their users’ information with the government, advertisers or complete strangers. But in recent months, a new question has emerged: How much should your friends and acquaintances really know about you?”
- White-Label Social Networking Set for Shake-Up? (CIO Magazine)

But some positive stories have appeared as well (okay, not nearly so many), talking about some good aspects of social networking. Here are just a few:
- Social Media to Weather Recession (Adweek)
- Seven Steps to Building Your Social Network (B2B Online)
- Online Networking Goes Small, and Sponsors Follow (Washington Post)

That last one hits on the key. No matter what the ups and downs of the major sites, led by MySpace and Facebook, the real future of social networking is about the niche, or special interest, networks. There are already hundreds of thousands of these sites, and advertisers are beginning to discover them. The future for social networks is very bright indeed.

UPDATE 2/25/08: And another thing: it turns out employers like social networking, too....but in a way you might not expect: Social Nets, Niche Employment Sites Likely To Snag Most Employer Dollars (Mediapost).

UPDATE 2/26/08: You have to love this Financial Times headline today: Facebook’s moment of cool has passed.  It may have for the writer, but I like his prediction that FB’s future may be more about business.

UPDATE 2/28/08: Here’s an excellent article about social nets in business applications. ‘Variety’ debuts The Biz, social network targeting entertainment field. Excerpt: “For business publishers, social networks have quickly emerged as an important component in their online platforms.” And be sure to hit the link they include about the new social net launched by the Financial Times.