Sunday, May 5, 2013

5 Trends in Social Media Impacting Business

The universe of social media influencing business
The universe of social media affecting business
In response to a question about the "5 material trends you see shaping the future face of social media" I got to thinking: In 2013 what are those trends and fairly quickly I settled on…..

5 social media trends impacting business
  • The rise of the visual social media
  • Information comes from multiple channels, simultaneously
  • ‘Humanized’ brands are a consumer expectation
  • Big data and other privacy concerns
  • Social status measuring is evolving
1. I see you …

Brands are quickly realizing that “words tell, but images sell.” The rapid rise of visual social media such as Pinterest, Instagram, and the teen photo sensation Snapchat in 2012 – dubbed by some as ‘The Year of the Social Image’ continues.

Already in 2013 Twitter has launched its micro-video service Vine and YouTube’s usage continues to rise rapidly and YouTube’s Battle with TV is already over.

2. We need more hands …

Americans are spending more and more time on mobile and other computing devices. According to the social media research company NM Incite Americans’ time on these devices went up 21 percent from 2011 to 2012 (the most-current data at the time of this writing). That number is expected to continue to grow by 20 percent or more each year.

Multi-channel information consumption is becoming the norm. From watching TV while also being on a tablet, smartphone or laptop – brands are realizing opportunities exist in being on multiple channels at the same time. As consumers move to multiscreen modes of media consumption, the advertising dollars will follow with well-managed multiscreen campaigns according to Spotlight on Multiscreen Video Advertising Convergence.

This has also led, for example, to social media being measured as part of a television show’s reach. For example in December, 2012, Nielsen, the TV ratings company, and Twitter announced a multi-year agreement to create the Nielsen Twitter TV Rating for the U.S. market. It will measure a metric "around the reach of the TV conversation on Twitter" and is expected to become available, for the fall 2013 TV season.

3. Can brands and consumers co-exist in social?

Consumers are connecting with businesses and brands more and more. According to the Edison-Arbitron 2012 research report called The Social Habit the percentage of social networkers who follow brands online doubled from 2010 to 2012 from 16 percent to 33 percent. But at the same time a slight majority say they don’t want to be snooped on in social media.

Research from The Altimeter Group this year shows that 51 Percent of Consumers Don’t Want Brands Listening to Them on Social Media.

This adds to already complicated relationships between marketers and consumers on social media – summed up very well in the Consumers vs. Marketers – What Do We Really Want From Brands On Social Media?.

4. ‘Big Brother,’ big data and privacy worries

With so much time online consumers are increasingly concerned about the digital footprints they are leaving behind. For example, according to the Edison-Arbitron  The Social Habit report 56 percent of the 143 million Americans on Facebook are "very concerned" or "somewhat concerned" about the privacy of their personal information on FB. 

The issue is well-summarized by the Stanford Law Review in Privacy in the Age of Big Data which essentially concludes that "the growing ubiquity of data collection and the increasingly robust uses of data enabled by powerful processors and unlimited storage" are concerning and calls for "a model where the benefits of data for businesses and researchers are balanced against individual privacy rights."

5. How do you measure up socially?

Americans officially have the social media habit according to the Edison-Arbitron report The Social Habit which notes that approximately 58 million Americans (or 22 percent of the adult population) "visit social networks several times per day."

Brands are increasingly monitoring for social media mentions of themselves  and their industry and communities using tools such as Radian6 and others

Meanwhile the social media audit for brands is becoming an essential regular checkup (as described in 9 Ways to Measure Your Brand's Social Media Health).

In addition, tools for determining individual consumer’s social influence continue to get better, although most concede they have some way to go. These include: Klout, Kred and Peerindex.

So, what does all of this mean for businesses and brands? There are many, many questions still to be answered and the time may be coming where both consumers and brands need to reach a middle ground on what is good for both in social media.

What do you think?

Related posts
10 Experts Weigh In On Social Marketing
10 More Social Marketing Experts Offer Key Advice
5 Ways Brands are Tone-Deaf on Twitter

13 comments:

  1. This comment has been removed by a blog administrator.

    ReplyDelete
  2. Through the help of social media, it is now easy for business owners to stay connected and communicate with their clients and customers and it is also a powerful marketing tool to increase business brand awareness and reputation.

    ReplyDelete
  3. This comment has been removed by a blog administrator.

    ReplyDelete
  4. social media marketing, this valuable eLearning kit is just the ticket.
    The Book Depository with availability on over a million titles Social Media Marketing eLearning Kit. www.realigfollowers.net

    ReplyDelete
  5. This post is really incredible, one of the most helpful I have ever read,indeed.

    ReplyDelete
  6. Thanks a lot for blogging this, it was unbelieveably informative and helped me tons.

    ReplyDelete
  7. I have been searching about this topics on internet for a long time but i can't find a good post. Your post is really helpful for me.
    how to get more instagram followers

    ReplyDelete
  8. Actually I read it yesterday but I had some thoughts about it and today I wanted to read it again because it is very well written. British sme

    ReplyDelete
  9. Please let me know if you’re looking for a article writer for your site. You have some really great posts and I feel I would be a good asset. If you ever want to take some of the load off, I’d absolutely love to write some material for your blog in exchange for a link back to mine. Please send me an email if interested. Thank you!
    buy 20 instagram likes

    ReplyDelete
  10. INTERNATIONAL CONCEPT OF WORK FROM HOME
    Work from home theory is fast gaining popularity because of the freedom and flexibility that comes with it. Since one is not bound by fixed working hours, they can schedule their work at the time when they feel most productive and convenient to them. Women & Men benefit a lot from this concept of work since they can balance their home and work perfectly. People mostly find that in this situation, their productivity is higher and stress levels lower. Those who like isolation and a tranquil work environment also tend to prefer this way of working. Today, with the kind of communication networks available, millions of people worldwide are considering this option.

    Women & Men who want to be independent but cannot afford to leave their responsibilities at home aside will benefit a lot from this concept of work. It makes it easier to maintain a healthy balance between home and work. The family doesn't get neglected and you can get your work done too. You can thus effectively juggle home responsibilities with your career. Working from home is definitely a viable option but it also needs a lot of hard work and discipline. You have to make a time schedule for yourself and stick to it. There will be a time frame of course for any job you take up and you have to fulfill that project within that time frame.

    There are many things that can be done working from home. A few of them is listed below that will give you a general idea about the benefits of this concept.

    Baby-sitting
    This is the most common and highly preferred job that Women & Men like doing. Since in today's competitive world both the parents have to work they need a secure place to leave behind their children who will take care of them and parents can also relax without being worried all the time. In this job you don't require any degree or qualifications. You only have to know how to take care of children. Parents are happy to pay handsome salary and you can also earn a lot without putting too much of an effort.

    Nursery
    For those who have a garden or an open space at your disposal and are also interested in gardening can go for this method of earning money. If given proper time and efforts nursery business can flourish very well and you will earn handsomely. But just as all jobs establishing it will be a bit difficult but the end results are outstanding.

    Freelance
    Freelance can be in different wings. Either you can be a freelance reporter or a freelance photographer. You can also do designing or be in the advertising field doing project on your own. Being independent and working independently will depend on your field of work and the availability of its worth in the market. If you like doing jewellery designing you can do that at home totally independently. You can also work on freelancing as a marketing executive working from home. Wanna know more, email us on workfromhome.otr@gmail.com and we will send you information on how you can actually work as a marketing freelancer.


    Internet related work
    This is a very vast field and here sky is the limit. All you need is a computer and Internet facility. Whatever field you are into work at home is perfect match in the software field. You can match your time according to your convenience and complete whatever projects you get. To learn more about how to work from home, contact us today on workfromhome.otr@gmail.comand our team will get you started on some excellent work from home projects.


    Diet food
    Since now a days Women & Men are more conscious of the food that they eat hence they prefer to have homemade low cal food and if you can start supplying low cal food to various offices then it will be a very good source of income and not too much of efforts. You can hire a few ladies who will help you out and this can be a good business.

    Thus think over this concept and go ahead.

    ReplyDelete
  11. EUFA Champs League is celebrated football little league held annually, where champions of each European region leagues from a year ago are group on this awesome UEFA World-class League to be able to play any win the particular trophy that may declare them the most effective Football Staff of The european union. www.scorespro.com

    ReplyDelete
  12. wow, great, I was wondering how to cure acne naturally. and found your site by google, learned a lot, now i’m a bit clear. I’ve bookmark your site and also add rss. keep us updated. major record labels

    ReplyDelete