Social media is rapidly becoming the lifestyle of today’s generation and will soon become a norm of society. It is incredible how fast the demand for using social media has risen. The growing numbers of people that are now active on social media platforms such as YouTube, Twitter and Facebook to channel their personal views, post photos and videos is incredible. People and businesses are now increasingly becoming a part of this social media society, with the capability to reach an international consumer base, promoting a product or service, even personal opinion is phenomenal. It’s shaping communication worldwide and increasing interest and endorsing interaction. Social media is an informal, simple way of reaching out to a large target audience. I believe businesses in the future will rapidly rely on a majority of their sales coming through social media networks, by creating their own corporate pages on social media platforms. Businesses will quickly be able to gather primary data from their consumers and create products / services to specifically meet their customer needs. Technology is at present a part of the lives of a large proportion of our global population, as they can access social media platforms from smart mobile devices from the minute they wake up in the morning to the moment that they go to sleep. Dramatic changes in technology will style the future of social media as well as the lives of future generations.
Although the unpredictable nature and virtually interminable scope of social media make it somewhat difficult to forecast, it is clear that social media is here to stay.
With its unique ability to generate value and build brand personality, reach innumerable customer bases as well as create strong vibrant online communities, social media has already become an integral part of organisational planning and strategy in many businesses.
The participation, openness, conversation and community that underpin social media and the relationships between companies and their customers, will arguably only grow in significance and influence. Organizations must understand fully this evolving relationship of lateral engagement in order to remain competitive. The future of social media will surely hold failure for those companies that do not fully understand or appreciate this changing momentum, and success for many that do.
Long-term sustainability will be rewarded to those companies that successfully attract and retain customers with strong communities, based on mutual interest and a sense of ‘belonging’. The organizations that succeed will also likely be those that manage consistency across their various social media networks and throughout their online campaigns.
The future of social media also holds huge potential for smaller organisations, with low barriers-to-entry and unmatched customer reach, these firms have a huge opportunity to compete.
Although technological advancements and the perpetual evolution of these networks make it nigh on impossible to fully predict, we can at least be certain that social media will play an integral role in future organisational strategy.
Smart-phones, tablets and wireless technology have greatly contributed to the growth of social media in recent years. I believe they will continue to aid its growth. As Generation Y become older and smart-phones become more and more available, social media use will definitely increase. It’s difficult to predict the future of social media as it is ever-changing. Things that are popular now will not necessarily become more popular in the future e.g. MySpace was formerly the most popular social network in the world, but now only a handful of people actively use it especially in comparison to Facebook.
Social media will have an impact on many areas in the future including politics, human behaviour, rise of the robots, music and marketing. I personally think it will have a mainly beneficial impact on these areas. One negative effect that may arise in the future will be the increased lack of human interaction as people will socialise more via social media than in real life due a lot more people becoming addicted to social networks. I believe social media will carry on to have a huge impact on business. Businesses will have to change their marketing strategies to revolve more around social media than any other platform e.g. Microsoft’s and IBM’s number of social media campaigns is growing. Social media will also result in less privacy for people in the future. People will start becoming bored easily so companies will have to continually be more creative with their social media marketing.
A social media campaign showing IBM employees explaining why they chose to work for IBM.
IBM’s greatest asset—the expertise of its employees—can be shared with clients, shareholders, and the communities in which it operateshttp://www.ibm.com/blogs/zz/en/guidelines.html