May 29, 2012

Why we hate Facebook right now

I had a short interaction last week on a friend’s Facebook page about, of course, the Facebook IPO. When I mentioned that many of the same types of criticisms were applied to Amazon 10 years ago I got a spew of pretty much nonsensical comments. “Amazon took 10 years to become a good stock” “You only buy short term in the market” “Amazon finally made money because of the Kindle”.  I’m sure those comments are correct in some weird context but as someone who bought Amazon at $16 in 2002 I think I kind of have the last laugh. So I confess…I bought Facebook stock the day of the IPO. And I’m holding it because I’ll bet this is just a phase. One I can make money from. 

Okay, I’m sure there were improprieties with the IPO. Ones we’d probably overlook (note: Bill Clinton) if we liked the brand.  But sometimes I feel like it’s just plain trendy to ignore most of the facts and hate a brand. Walmart is a great example. Target does everything bad (and more) that Walmart does, but for a long time it was cool to hate Walmart, especially if you were an environmentalist. No matter that Walmart started the trend of green roofs in retailing, or that its sustainability practices are now mimicked by most big box retailers. Until Walmart hired a bunch of Target marketers, we hated them.

We would never shop at JCPenney (unless it was with Mom) until they hired Ellen Degeneres as a spokesperson in another media campaign spearheaded by an ex-Target marketer. Now we think they’re super cool because they have Ellen. Same goes for the Gap. The brand was tired and outdated according to most marketers,  until they associated Banana Republic with Mad Men. Now they’ve had their best quarter in years.

By far, the Facebook haters seem to be the most vitriolic these days despite attempts to distract with Zuckerberg marriage stories, all planted I’m sure. (Let’s make them love us again with wedding dress talk and profiles of his brainy new wife!) It’s sad to me the guys at Facebook don’t know how to use traditional media to sway the public, or that it’s the fastest way to do so. I’ll bet they even disdain the idea that traditional media will help save their reputation. However I’m betting that eventually they’ll be smart enough to figure it out. Maybe they could learn some lessons from Toyota on that.

By the way, does anyone else find it exceptionally ironic that haters do most of their hating while ON Facebook.

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12 comments on “Why we hate Facebook right now”

  1. thank you

    May 30th, 2012 at 7:15 pm

  2. Thank you very much, I hate facebook, too. :)

    May 31st, 2012 at 2:03 am

  3. “Does anyone else find it exceptionally ironic that haters do most of their hating while ON Facebook.”

    I did noticed that, some even create blog posts about how they hate FB but somehow linking their post to Facebook itself. I don’t know, it’s clearly a waste of time since they can’t or we can’t do anything about it but to adopt and make the best out of it.

    May 31st, 2012 at 3:59 am

  4. If you can’t beat ‘em, join ‘em as they used to say!

    May 31st, 2012 at 5:08 pm

  5. Facebook is facing the popular backlash which always comes as the dominant player in a market. Just ask Microsoft what it is like. Someone else will come along (maybe Google+?) and steal Facebook’s crown and then it will be ok for everyone to like Zuckerberg’s monstrosity again. Until then, it will be hate, hate, hate – particularly from those who were duped into buying shares!

    June 1st, 2012 at 4:42 am

  6. Wow, so the bottom line here is that you believe that Facebook is going to be on the market for a long while right?
    You are right with that because nothing and nobody has topped Facebook so far. I’m wondering if that is because the haters can’t come up with something better because they are busy hating…

    ~Anja~

    June 1st, 2012 at 8:58 am

  7. I suspect part of it is envy Anja!

    June 1st, 2012 at 9:53 am

  8. You’re so right, Ben. We love to hate the successful player in the market.

    June 1st, 2012 at 9:53 am

  9. Thanks for sharing the nice post, Actually i hate facebook for fake people, fake id..

    June 4th, 2012 at 11:00 pm

  10. Facebook simply doesn’t have the advertising power that it should. The IPO was over-hyped and over produced and frankly I think most people are taken aback by the sheer number of users and they value the eyeballs too much. We have tried to market on Facebook, and even engage in the social aspects but you know what? People aren’t likely to post a review or recommend us to their friends because we resolved their DUI or other criminal case. Most likely they didn’t announce their DUI arrest on Facebook and no one knows! I think the bottom line is that there is an engagement problem.

    June 7th, 2012 at 6:40 pm

  11. This true that many people hate Facebook for some reasons. But Facebook is the most powerful media for advertising and make social as i think. I hate Facebook most for fake people.
    Thanks For sharing this.

    June 19th, 2012 at 1:27 am

  12. Here’s a good one…

    Read these comments, good stuff!

    There’s a book everyone should know about:

    101 things to dislike about facebook.

    pretty funny stuff, one of those stocking stuffer books…

    https://www.createspace.com/3967181

    also on amazon.com

    Cheers!

    September 6th, 2012 at 9:57 pm

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