Social networking growth 'beginning to plateau'

by Alvin Chong, TODAY, 19 Mar 2012

If you thought interest in social networks will continue to grow, you would be wrong - growth in social networking is beginning to plateau, according to a new report.

Marketing group UM Singapore unveiled its findings on Friday in The Business of Social: Social Media Tracker 2012, the sixth instalment of its global social media survey. The findings were based on a study of 41,738 respondents from 62 countries, including Singapore.

Mr Mani Padmanabhan, insights and research manager of UM Singapore, said: "We see that the growth of social media has slowed in many places, like in Singapore. There's a clear plateauing of growth in social networking. The reason is, most of the people who are meant to be there are already there. We are already mature in the use of social media here."

However, this is far from the end for social networking - people are just focusing on their favourite sites.

Facebook is currently the most searched-for word on the Internet and accounts for 10.29 per cent of worldwide Internet traffic. In Singapore alone, Facebook is the most visited, with 38.22 per cent of all site visits and Singaporeans spending an average of almost 39 minutes per visit.

"While the room of acceptance of more new social media platforms is narrowing, the application and depth of usage is widening," Mr Padmanabhan said. "People are spending more time than ever on social networks."

If you have visited a brand's Facebook page instead of going to their official website, you are not alone. A recent report shows that this is the worldwide trend - unless you are Singaporean.

"If you look at global trends, the amount of usage on brand or company websites is clearly dipping," said Mr Padmanabhan. "In Singapore, it's more or less flat."

Consumer interest in visiting brand pages dropped more than 10 per cent over four years to about 72 per cent last year, with interest falling most in the 16-24 age group. For Singaporeans, the interest has stayed at about 82 per cent over the past three years.

"People use different platforms to meet different needs. A brand website meets very few. Its primary role is confined to information and commerce," Mr Padmanabhan explained.

"Brand sites are still valid to Singaporeans but brands need to establish presence in the social media space to reach and connect to consumers."