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10 Years of Facebook & Its Influence on Social Media

“…People often ask if I always knew that Facebook would become what it is today. No way.

I remember getting pizza with my friends one night in college shortly after opening Facebook. I told them I was excited to help connect our school community, but one day someone needed to connect the whole world.

I always thought this was important — giving people the power to share and stay connected, empowering people to build their own communities themselves.

When I reflect on the last 10 years, one question I ask myself is: why were we the ones to build this? We were just students. We had way fewer resources than big companies. If they had focused on this problem, they could have done it.

The only answer I can think of is: we just cared more.

While some doubted that connecting the world was actually important, we were building. While others doubted that this would be sustainable, you were forming lasting connections.

We just cared more about connecting the world than anyone else. And we still do today.”

Above are the words of Facebook founder and CEO Mark Zuckerberg. It’s been 10 years since his dorm room project came to life. And what a decade it has been! We’ve witnessed tremendous growth, transformations, impact, business capabilities and even an IPO. But, as anyone knows that has even somewhat followed the social giant, the past decade hasn’t just been a bed of roses. There have been challenges and backlashes along the way including privacy concerns, competitors, legal issues, financial alarms and more.

Facebook CEO and Founder Mark Zuckerberg

But, 10 years in, Facebook is a successful, global company that has had a tremendous impact on all society. We would be here a very long time if we went back through all the Facebook milestones and the effect they have had on both the company and overall culture. But, we do want to take a little time to reflect on the big picture of Facebook in the past decade, and more importantly social media and the role it has played.

To do this, let’s back up. In 2004, when Facebook was built, what was your social media life like? At this point in time, MySpace was a big deal, forums were hot, instant messaging platforms such as ICQ were all the rave and Friendster was a means to connect with people online whom you already in the offline world. Other platforms such as Orkut, LinkedIn, and Classmates, among others, existed as well, but the social evolution that we now are familiar with was not present. It was then that blogging really started taking off too.

For me, I remember being in college and getting asked if I had Facebook from a few of my friends from other colleges and universities. I had no idea what it was. But, when it became available to my university, I readily signed up. Funny thing, I remember it blowing up across campus to the extent that there were rumors the president was going to ban it. I was part of the on campus news station, and in covering the event, the overall student response was: “My life would be over if they take Facebook away.” I wonder how many people view Facebook in this same way today…

As Facebook began to grow among the college crowd, it then expanded to include high schoolers, and shortly after, everyone. Although this move took the social network to the next level, Charlene Li from research firm Altimeter Group tells CNET it was “counter-intuitive.”

“If [Zuckerberg] had asked users, “What do you want?,” they would have never said “Add my parents,” she said.

She’s right, but we know now that it was successful for the company that now has more than 1.25 billion users and a reported $2.59 billion in revenue this past quarter. However, beyond this, I think it’s fair to say that social media would not be what it is today if Facebook were not a factor. Like it or not, Facebook has largely influenced the overall social media marketplace. Think about how social we are in everything we do from shopping to cooking to sharing opinions to conducting business and the list goes on and on. Though some would say, if Facebook hadn’t come around, something else would have. While this may be true, the circumstances would still be different. For instance, would MySpace have remained a leader? Whether it did or didn’t, would the road have still been paved for Twitter, Instagram, Pinterest and others to enter the social space?

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Though history does not allow us to answer this question, it is clear that Facebook has been very formative in molding social media as we currently know it.

Now, the question becomes, where will it take us next?

“…I’m even more excited about the next ten years than the last. The first ten years were about bootstrapping this network. Now we have the resources to help people across the world solve even bigger and more important problems.

Today, only one-third of the world’s population has access to the internet. In the next decade, we have the opportunity and the responsibility to connect the other two-thirds.

Today, social networks are mostly about sharing moments. In the next decade, they’ll also help you answer questions and solve complex problems.

Today, we have only a few ways to share our experiences. In the next decade, technology will enable us to create many more ways to capture and communicate new kinds of experiences.”

Zuckerberg does not give us any exact information on the next 10 years of Facebook in his above post, but he does indicate that it will become smarter and create new experiences. Hopefully, the social network will continue to grow and transform the way consumers act and think. It’s already helped develop an industry that not only connects a large portion of the world and provides a very valuable tool for businesses, but it also has created a whole new job market.

There have been many headlines declaring that the younger generation was abandoning the site, but new research from Pew shows that 73 percent of children ages 12-17 are Facebook users. So, while Facebook doesn’t appear to be going anywhere but up, it is possible that it could diminish in value at some point. IF this were to happen, the impact is has will still be felt, which is an awesome concept. The way people communicate, react, think, and ultimately, live has been revolutionized in the last decade, all thanks to the influx of social media and led largely by Facebook. Will the next 10 years hold as many changes? We’ll see, but I, for one, am so excited to see where it takes us.

How has Facebook impacted you? Does it play a large role in your life? Has Facebook changed the way you communicate? Could you live without it? Is there a particular event in which Facebook changed your life for the better or worse?

Images courtesy of Facebook.

Why Social Media Can’t Be Ignored

Anyone remember Facebook before the News Feed? It’s hard to believe that what is now one of the biggest draws to the social network was once one of its biggest points of contention.  And what about Twitter? The platform that at first evolved around news and events has now become a hotspot for big announcements ranging from political decisions to celebrity revelations.

Let’s also not forget about the impact Pinterest is making on not only the DIY/craft community. Brands like Scholastic and General Electric are channeling their creative side and using the service in a way that engages fans and gets them to repin, interact, and even convert.

These sites are growing like mad, and I mean that in the literal since. According to Craig Smith over at Digital Marketing Ramblings, Facebook has 1.11 billion users, Twitter has 500 million users, and Pinterest has 48.7 million users. I think it’s safe to say these numbers are growing too.

But, what we need to realize beyond the fact that social media is blowing up is that it has and is continuing to transform traditional business models. We know by now that social has dramatically impacted the way people share information. However, what we are still trying to grasp, I think, is how to adjust and keep up with all the changes.

Let’s look at public relations, for example. The control lies in the hands of consumers unless we, as marketers, are out there in the midst of it all. Product recalls, customer service issues, and more are now at the mercy of consumers, unless we get involved and react. If not, a brand could receive lasting damage.

Still, this transformation of power is not a bad thing. Social media is an incredible asset when used in its original form of establishing relationships. It also offers the opportunity to provide real-time market research as well as countless other benefits.

With its current growth rate, I can understand how social media can be intimidating. But, on the one hand, with as many users as it has and as much activity it creates, you’d be almost crazy to turn the other way. And on the other hand, it would be better to enter the space before anymore must-have platforms emerge.

Brian Solis, principal analyst with the Altimeter Group, introduced a Conversation Prism back in 2008 to provide understanding to the social landscape:

Conversation Prism Version 1

Now, just 5 years later, he has updated the prism to reflect the growth of the industry:

Conversation Prism Version 2

In spite of the tremendous growth we’ve seen thus far in social, I am inclined to believe that we are still in the early years. And if you’ve yet to jump on board with it, then I’d say that it’s high time you take the plunge.