So what is the future for social media? Well, it seems daunting to try to predict the future even more so if you consider the exponential growth of technological innovation so I am going to try to look at the year ahead. In the article “5 Trends That Will Transform Social Media in 2017” it is suggested that 66% of adults globally, log on to Facebook every day. It is clear that social media use continues to advance and using it to advance your business is also critically important. Other things to pay attention to: Not only is social media usage continuing to increase it is doing so across all demographics. Employees are going to increasingly be encouraged to share business updates. People want real-time “real-time” updates. Increasingly there will be an expectation from consumers for even quicker responses to their inquiries. Decisions will be increasingly driven by analytics. Social analytic tools continue to get more powerful and can provide valuable information even to beginning users of social media. On this point, it is important to reflect on the data that is driving decisions. In the article” Are We Mining Data Instead of Answering Questions”, it is suggested that the biggest challenge in the big data world is understanding that data analysis is not the same as answering questions. There are nuances in social data that compliment pure data in understanding what the data is saying. For example counting the number of likes of a particular post is interesting but if the individual responds with a like and also says “because there were easy to follow lessons” that provides added value. Social video content is important and will only get more important going forward. I would add to this list in that I think there is a lot more opportunity to use social media for collaboration particularly between businesses and between organizations. Consumers want to have the full range of services available to them conveniently and are expecting organizations and businesses to be working together to provide that service to them. In the article “From Social Networks to Collaboration Networks: The Next Evolution of Social Media for Business”, the author argues that the biggest opportunity for Social Networks is the opportunity for collaboration. These collaborative networks breed co-creation, and most importantly the culture of collaboration. “The new generation of Millennials and Generation C (connected, computerized and community oriented) have… Read more »
Global companies are continuously communicating and collaborating with a broad community of people.1 Social media can help bridge the communication gap and help collaborate information more effectively and more efficiently. Eyewear By Olga is a luxury eyewear retailer carrying top crafted frames from around the world. It is located in the heart of Mississauga, in Port Credit. Olga Trentin, Owner of Eyewear by Olga utilizes social media in every aspect of her business, whether it is for her retail store or online boutique. “Social media has definitely helped my business, from visibility to purchasing to inventory management.” says Olga Trentin.