Instagram, Facebook, LinkedIn, YouTube and other social media are not just entertaining channels, where people spend their free time. Now, these channels play other roles as well – in education, outreach campaigns and business. Today, all the above communication networks are becoming a must-have for any type of promotion: personal or corporate. The influence of the platforms became so powerful, that they make billions and cost even more.
But what will happen to social media for business in the future? Are they going to be as significant for business as it is now? Or may we see the loss of power or new peaks of using the platforms for entrepreneurship?
Before answering these questions, let’s see what is currently going on according to some researches:
- 88% of 18- to 29-year-olds indicated that they use any form of social media. That share falls to 78% among those ages 30 to 49, to 64% among those ages 50 to 64 and to 37% among Americans 65 and older.
- Facebook and YouTube dominate the social media landscape, as notable majorities of U.S. adults use each of these sites.
- 35% of U.S. adults now say they use Instagram, an increase of seven percent from the 28% who said they did in 2016.
- Roughly three-quarters of Facebook users – and around six-in-ten Snapchat and Instagram users – visit each site daily.
It’s obvious that we are all getting involved more and more in social media usage.
Now, let’s proceed to answering our questions.
The rise of influencers nowadays makes giants like L’Oreal and Adidas collaborate with the most influential Instagram celebrities. Kardashian/Jenner family is one of the most known influential families in the modern history. Their collaboration cases are very well known to hundreds of millions of Instagram users. This tendency is still on its way to the peak.
Digital channels are becoming a perfect tool for new forms of customer care. Customers will be able to engage with companies anywhere and anytime, their questions will be answered immediately, their problems will be fixed faster, the care will become personalized and more accessible. Data collection and analysis on social media is already something we may see nowadays. However, as the increase of number of social media users becomes inevitable, the importance of data collection and analysis on social media turns out to be even more significant for businesses.
In far future, Artificial Intelligence may become a fundamental part of social media management and development. For example, we already see some seedlings of AI on Telegram in the form of chat bots that make a good portion of job for people managing commercial social media accounts. As the technology of AI evolves, we may see the development of more elaborate and sophisticated activities of social media in the field of business. We just need to stay alive to that moment.
As we can see, social media are not going to lose their position even in the farthest observable future.
So if your business still doesn’t have an account on some social media platform, it’s time to register.