Friday, July 15, 2011

Google+ not killing my Facebook presence yet

So, I have a Google+ account now. Not really seeing what the hype is about yet. However, a few people think it might do to Facebook what that site did to MySpace. Who knows?

This is what I really see here, that my sunk cost in time with FB will keep me there, and feeling like FB is going to stick around was one of the reasons why I've sunk so much time into it when it comes to pictures and videos. However, as Google products have become more integrated, and integrated with Facebook, I've been posting most of my photos and videos elsewhere, so who knows how it will all have shaken out five years from now?

From the article:

Sunk costs are what make customers loyal. The overall concept is that when a consumer has sunk costs, they factor those into future decisions related to competing products. Sunk costs are generally of a monetary nature but more often than not, the sunk cost of time may be the post powerful.

This is a major factor that Facebook uses to their benefit and gives them a huge competitive advantage over any other social network sites. Now over 750 million people are sinking time and energy into putting their lives on Facebook. This is the network they have decided to spend their valuable time on to develop and embrace with their digital lives.

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