Poor Mark Zuckerberg. In addition to being outed as a bad tipper, things seem to be going nothing but downhill for Facebook ever since the most ballyhooed IPO in American history went down a few weeks back. In addition to the stock underperforming and its Instagram acquisition coming under the scrutiny of the Feds, reports out today predict more trouble with advertisers going forward: Facebook users are spending increasingly less time on the site and they’re rarely purchasing anything that’s advertised on it. This according to a poll of Facebook users conducted by Reuters.
Four out of five Facebook Inc users have never bought a product or service as a result of advertising or comments on the social network site, a Reuters/Ipsos poll shows, the latest sign that much more needs to be done to turn its 900 million customer base into advertising dollars.
The online poll also found that 34 percent of Facebook users surveyed were spending less time on the website than six months ago, whereas only 20 percent were spending more.
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Of the 34 percent spending less time on the social network, their chief reason was that the site was “boring,” “not relevant” or “not useful”.
Another somewhat interesting tidbit uncovered by the poll: the Facebook IPO sh*tshow actually served to hurt Wall Street’s already damaged reputation with “forty-six percent of survey respondents said the Facebook IPO had made them less favorable towards investing in the stock market in general.”
Sounds like our favorite boxing coach Eric Kelly‘s anti-banker fanbase is set to continue growing going forward.