Why Facebook Won’t Fail Like Myspace

2 Mar

Progressive Media Concepts - Social Media Marketing and Management Though the site is still in existence, Myspace has rapidly dropped off in terms of popularity over the past few years, mainly due to the reign of Mark Zuckerberg and Facebook. Myspace users have gone down, views have gone down, and its community recognition as the leading social media site is nothing but history, at this point. The new social media giant, Facebook, shows no such signs of slowing.

Mark Zuckerberg seems to be much more business savvy than we give him credit for, at least more savvy than Myspace President Tom Anderson. And if it is not business sense that separates the two men, it is most certainly their connection to their audience that differentiates them. It’s because of this that Facebook just does not seem like it will fall apart, like Myspace did.

The reason for Myspace’s failure seems to be that they did things backwards. Myspace seemed to care much more about monetization first, and then their social community second. Due to this, Myspace snagged an initial $900M deal from powerhouse Google, but wasn’t able to hold an audience with much effectiveness. Facebook, on the other hand, focused on their community engagement and happiness first. They made sure their designs promoted social activity and communication, and kept advertisements away for as long as humanly possible.

In return, Facebook’s users have stayed loyal to the Facebook brand. Zuckerberg has procured a stream of revenue through this strategy, while Myspace took the dive due to its greedy ways. As long as Facebook continues to put its users first, we have only seen the beginning of what it can accomplish.

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4 Responses to “Why Facebook Won’t Fail Like Myspace”

  1. Reg825 April 25, 2011 at 12:13 pm #

    Here are other reasons why MySpace ended up failing so badly:

    http://www.economicrefugee.net/why-did-myspace-fail/

    • William Rill April 25, 2011 at 12:23 pm #

      Thank you for the link. You have some good points about why MySpace failed.

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  1. Is Your Business Using Facebook? | RU Social Media Ready - March 3, 2011

    […] Why Facebook Won’t Fail Like Myspace (progressivemediaconcepts.com) […]

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