As Social Media continues to evolve, marketers must also find ways to adjust to changes within that space. New platforms continue to emerge, they continue to innovate to remain competitive, and consumers themselves are driving changes across social media. While there is no way to know for sure how social media will continue to evolve, based on current trends we can assume that the following aspects of social media will continue to drive change in the space.
As companies continue to find value in consumer data, business will seek more of it. Social media is a great source for consumer data which encourages businesses to participate across social platforms. Facebook, Twitter, and Instagram each offer social analytics via their platforms, which suggests they too have noticed the demand for more insights into social activity. Insights also help businesses provide better experiences for their consumers across social platforms. Data analytics also helps marketers measure the success of their marketing efforts across social, which will continue to be vital as companies continue to invest more in social media.
Video consumption is expected to surpass 85% by 2019. Video is one of the fastest-growing and most in-demand forms of marketing. Its popularity is in large part due to how engaging the medium is especially across social media. Many companies are investing in video because they recognize its value when trying to connect with potential consumers. For example, “video ads now account for more than 35% of all ad spending online.”
The top social media platforms already offer companies advertising solutions, which many advertisers are already taking advantage of to promote their businesses. Facebook alone is estimated to take in more than two-thirds of social media revenue which demonstrates the value advertisers see in social media advertising. Advertisers are also investing more in Twitter and Instagram.
Socia media has enabled companies to improve customer service. Many consumers share complaints and concerns with brands via social media, demonstrating the importance of social media as it relates to customer service. As consumers continue to vent and engage with brands across social companies will have to find ways to meet consumers expectations. According to a poll conducted by eMarketer “50% of those polled said they would never buy from a brand again if it responded poorly to their complaint,” which highlights the importance of brands ensuring customer service is an integral part of their social management plan.
The truth is that technology and human behavior via technology continue to influence the future of social media. The social aspect of the medium suggests that the changes with industry are indeed influenced by human behavior and users engaged with the various platforms. As technology evolves and companies innovate, consumers also have ways of effect change across social media.