Facebook is a mess right now.
The Mark Zuckerberg social giant is currently in the middle of multiple controversies that range from top executives leaving the company, to privacy concerns among a multitude of users, to talks of investigations into antitrust violations from Capitol Hill.
It seems the company is getting it from all sides and that many are wanting to “unfriend” them.
From a user standpoint, fixing Facebook isn’t as complicated as it may seem.
In fact, it’s a very simple solution.
Facebook users are becoming increasingly concerned with what personal data the company is obtaining and for what purposes they are using their data.
If Facebook wants to calm user’s fears, the social network should give users greater control over how their data is used. This would include providing more controls over how their data is used for advertising purposes and provide more opt-in and opt-out policies for consumers that would allow them to decide how their data is used.
Another move the company should make is to offer paid subscription options that provide users with an ad-free experience and also allows no data collection whatsoever by the social site. In addition, with a higher tier subscription plan, the site could offer a more encrypted experience for users to help protect their data better.
Not only would subscription tiers be great PR for the company to show they’re concerned about their user’s data, it would also help make up for loss revenue from their declining advertising business.
A report on Fast Company reports consumption time on Facebook was down from 16.5% in September 2017 to 14.3% in September of this year. The less people log onto Facebook, the less time they are seeing display ads resulting in a decline in revenue. However, the site is still second to only Google in digital consumption, so it’s not time to panic yet if you’re a Facebook investor. The company is still making billions.
To help stop accusations of political bias, Zuckerberg should show goodwill by creating a board that includes leaders from both the right and the left that meets to help discuss and put into practice policies that make sure all voices are heard fairly on the platform.
Facebook is a company in crisis on many fronts, but it’s silly to think the tech behemoth will suddenly disappear like MySpace. The company is almost too big to fail at this point and is too ingrained in our daily lives and culture for there to be a mass revolt of users away from the platform.
However, there are changes that the company can and should make in order to turn the ship around before it enters into uncharted tech territories that could eventually sink it because history has proven that even some of the world’s largest corporations can hit a financial iceberg and go down like the Titanic.