Facebook is not actually declining, but it’s a fact that it becoming more saturated. It makes sense afterall. It has been around for almost 20 years! As all product and services, saturation is a part of their life cycle.
What can Facebook do to spark more interest and engage their users?
Well, Facebook has developed a serious tool the last few years. The Marketplace! It has silently gained popularity among Facebook users and is a very usefull tool for sellers & buyers alike.
Marketplace mantains the user’s Facebook use time by engaging them in a virtually endless bazaar of goods.
How can Facebook use this to their advantage?
I believe that the first step is by intergrating online payments. “eBay style”. So far, all the transactions between parties are carried out via cash or digital transfer via 3rd party bank apps etc.
If Facebook intergrates their own Payment system it can take a portion of those transactions.
The second option (which is a bit aggressive), is to require a payment for users to upload their products on the Marketplace. That, however, could turn against the popularity of Marketplace and reduce its usage.
Whatever the future development of Marketplace might be, Meta should take into consideration that it is essential for the sustainability of Facebook. And to be honest, there is no other Social platform with a tool even close to Marketplace.