Organization Name: Facebook, Twitter, and LinkedIn
Industry: Social Media/Social Network
Web References: www.facebook.com, www.twitter.com, www.linkedin.com
Description of how social media is used for business performance:
When you look back as to early 1990’s as to how everyone from all walks of life used to communicate and collaborate as they currently do today. Often wonder how simpler times were when we didn’t have the technology of social media to better and further communicate and collaborate to a larger audience. The internet was just getting started, a global communication network that allows almost all computers worldwide can connect and exchange information freely. An internet that is interlinks between many computers and routers that act as an information highway for users to connect and exchange information. Even email was introduced as well, adopting a concept of post mail delivery system by being able to digitally send electronic mail through the internet to another person from another computer. All that was just 24 years ago.
It would be just a matter of time before something revolutionary and a change that will allow the next phase of the internet to evolve into something more.
The History of Social Media (Source: YouTube)
Since college student by the name of Mark Zuckerberg first launched Facebook in his Harvard dorm room on Feb. 4, 2004, we have seen social media evolve from a fad to a phenomenon that has triggered a paradigm shift in the way the world communicates. It has empowered individuals to voice their opinions and concerns and share content on their mobile devices in ways no one could have imagined. Along the way, the forces of politics and the world of business has been radically transformed.
“The internet has upended how consumers engage with brands. It is transforming the economics of marketing and making obsolete many of the function’s traditional strategies and structures.”
– David C. Edelman, Director of McKinsey’s Global Digital Marketing
The power of social media is growing exponentially like never before. Today there are 1.3 billion active Facebook users, Twitter boasts 270 million active users that send 500 million tweets per day, and even LinkedIn enlisted 269 million business professionals. All three of these social media platforms have become an open forum, interlinking between one another and creation of open communications and exchange of information both cooperatively and ideally.
Lessons for others:
Social media has become the biggest paradigm shift since the industrial revolution, businesses are taking a more proactive approach. To promote and advertise their brand identity and services, engage business to business (B2B) sales and lead generation opportunities. Establish an open communication and collaboration approach to exchange ideas. The benefits of social media are many as follows:
- Improved social signals.
- Company branding.
- Improved brand awareness.
- Word-of-mouth advertising.
- Increased customer loyalty and trust.
- Improved audience reach and influence.
Social Media 2014 Revolution (Source: YouTube).
Nobody would have thought that social media would be making this paradigm shift and nor businesses today undertaking more proactive approach in leveraging social media to their own benefits. The question remains is, will social media still be force for years to come or will it evolve into something much greater? The reality is social media is here to stay and will eventually evolve over time, maybe not from the desktop but more likely from mobile phone or tablet. Social media has become a trend even today and everyone is socially engage in one way or another. The growth of social media has become contagious and matter of time till social media has become a trend as follows:
- Everyone will be using it. Not just mean ‘everyone’ as in ‘all the cool kids’ or anyone who knows anything about social media marketing, but everyone. Expect to wish your Nana happy birthday via Twitter and to be joining work Facebook groups populated by every single one of your co-workers.
- Integration will increase. Integration in terms of personal and business worlds, as well as virtual and reality. Start doing more in the digital sphere and the digital sphere will start being a control point for more of our reality, including social media sources. Communication is also likely to become far more digital, with conversations switching to channels like WhatsApp. The traditional separation between personal and business social media usage will gradually merge with more openness and online sharing until there is no difference between the two.
- Social media will become a real skill. As social media management becomes more valuable to business it will be further outsourced to those who have the experienced and knowledge to make it effective. Specialist social media agencies will become the norm and it’s likely that it will become more challenging to successfully engage in Facebook marketing or Twitter marketing without this expertise at your back.
- The visual side will continue to boom. The fodder of social media was traditionally words, as in status updates and tweets. However, the trend seeing more of now is that of visuals,Twitter recently introduced photos into the feed, rather than having to click on a link, which was previously the case.
Already seen social media change in many ways. The move away from focusing on “going viral” to creating meaningful engagement, the realization that “just being there” is not enough, and the awareness that content is more than just words have all set the stage for what is to come next.
The power of social media is growing exponentially like never before and has empowered individuals to voice their opinions and concerns and share content through social medium. Businesses are taking a more proactive approach, reaping the social, economic, and cultural benefits in the process. Leveraging it to promote and advertise their brand identity and services, engage business to business (B2B) sales and lead generation opportunities and collaboration and marketable approach to exchange ideas. The funny thing is that just 24 years ago, we didn’t have social media. No Facebook, LinkedIn, or even Twitter to begin with. The internet was relatively new to many, a global communication network that allows almost all computers worldwide can connect and exchange information freely. The key was the way to connect and communicate, just as the internet was evolve and paved the way for social media of today.
Submitted By: Chris Gomes – SMBP Student, University of Waterloo.
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