When is Facebook finally going to die like Myspace? Well no one can accurately predict where the social media landscape will be in the next years, but here is what we think is gonna happen. Based on human behavior and recent trends, we can kinda tell where this ship is heading, at least in the short term.
1) New Apps and Tools that will Monetize your social network –
Social currency is a real thing, tools are popping up that look within your network to try and find some real use. For example, Insightfully, a company that was named a company to watch for in 2015 at the Canadian Internet Marketing conference is leading the way in utilizing your network. Insightfully is Artificial Intelligence that consistently looks through your social feeds for ways you can help, and get helped by others which leads to revenue for your business. Essentially you can find relevant people that can help you that are in your network – No more cold calls.
Tweet: Social Media makes Big Data even Bigger
2. Social Media makes Big Data even Bigger – Big Data refers to the conglomeration of as much data as a company can get their hands on about a customer. The concept behind its importance is that the more you know about your customers, the more you can connect with them — and therefore make them more loyal customers.By marrying personalized customer information with the power of social media, Brands can create incredibly targeted and robust data-driven marketing interactions in real time. (Enterprise 2014)
3.Focus on personalities. Social media companies are always pushing for us to share more about ourselves and to “complete” our profile. Some social media companies even offer rewards for reaching 100% completion. These features and abundance of information allows brands to be more specific when targeting us. Facebook is at the moment rolling out video profiles these 7-second gif like creations, are Facebook’s way of giving people more “real estate” to show off their personalities and creativity.
4. Shopping will become more common on social media
According to eMarketer, U.S. mobile commerce will double by 2019 to $149.8 billion a year, from $74.9 billion in 2015. This means that brands will have to invest considerably more time and money on Facebook and Twitter to foster communities. Focus on building a community rather than increasing numbers. Building community will help you as a brand to know your customers more so you can cater to them better, where they spend most of their time.
5. Mobile and entertainment will morph – Mobile is already taking over from desktop as the primary means of accessing internet, now at 51% for mobile vs 49% on desktop . This means companies have to become wise about their marketing strategies and be prepared to reach their customers anywhere there is a mobile device, this even includes vehicles, as going forward most vehicles will come equipped with internet and social media.
For brands this means making sure all of your content, all of your sites, and certainly all of your social media platforms are ready to take advantage of this shift. For social media, this means not just posting text heavy content, for example, but utilizing video, tappable post elements, and other tools to increase the richness of the customer experience and interaction with you.
A lot of these changes are a result of the internet becoming more powerful, more accessible especially on more mobile devices. As a result we are now connected to the world 24/7. Brands now have to adapt, you have to meet your customers where they spend the majority of their time. Human behavior has also evolved to where people are sharing more and more without holding back, this means brands will get to know their customers better than before and adjust how they meet and anticipate their needs. Are there other trends and changes you perceive in the future of social media and how it will affect brands? Please share your thoughts in the comment section and join the conversation.
Arnold Soko is a video and content producer for @AnasheMg a music production and management company. Works can be viewed at http://www.arnoldsoko.com