Almost half of 18-29 year olds have deleted their app, 47% stopped using the platform for several weeks or more, and 64% changed their privacy settings since it was revealed in March 2018 that Facebook was improperly sharing users’ information.
Other generations have followed Millennials’ and Gen Z’s lead. In total, almost three quarters of US consumers have proactively taken steps to limit their interactions with Facebook.
For the first time ever, the percentage of Americans that use Facebook has declined: from 67% to 62% in the past year. Among 12-34 year olds the trend is much more pronounced. 79% used Facebook in 2017, 67% in 2018.
Why are consumers taking a step back? The majority do not trust the social media company, feel they have little control of their personal data and believe the information they see on social sites is unreliable.
Some brands have disconnected from Facebook too, including Tesla, SpaceX, Pep Boys and Sonos. Diminishing ROI, less organic reach, and frustration with the social media company’s approach to data security are all likely drivers.
Sources: Edison Research 2018, Forbes 2018, Pew Research 2018
So please…You’re creative. That’s why you considered the name “Brandology.” Use those creative juices to come up with another name that’s not already trademarked. Even though it will take some time, it will be fun, happy time — a stunning contrast to the time you’ll spend with Brandon if you try to use “Brandology.” Really. (It’s probably a little tacky to mention, but if you want our help naming your business, that’s something we do too.)