MORE companies are investing in social media, and this will inevitably have a positive impact on marketing and business models as a whole.
But what does the future hold for social media and how will the changes affect the companies using it? Many social media experts are making predictions about the future of the phenomenon, and some of these are listed below:
1. More companies will begin to invest in social media
With the increase in the number of small companies investing in social media, more are becoming aware that it can be a useful tool when it comes to competing with bigger businesses. If a company has a product they wish to market, then social networking increases the target audience the product can be marketed towards. By combining traditional networking with social networking, businesses will be able to increase sales and interest in their products and services. This will be the case with social networking sites that are free to use as well as those that charge for some of their services, such as LinkedIn.
2. Social media introducing an e-commerce system
There is a strong feeling that Facebook and other social network sites will create an e-commerce payment system to rival PayPal. This would enable businesses to sell their products via social media portals, and the customer could complete the whole transaction within the confines of that site. This would be beneficial to customers who don't wish to be redirected to other sites to complete purchases of items, and may therefore have a knock-on effect to benefit the business that would see a subsequent increase in sales.
3. Businesses will integrate their websites with social networks
This will enable companies to use the traditional company website alongside social networks. By using a simple website builder, companies will be able to link the two elements together, enabling them to get the best of both worlds. Traditional websites will have links to social sites, and vice versa, meaning that customers can view and purchase from both with ease. This will inevitably lead to a larger customer base, and will benefit the business greatly.
4. Social networking will increase in the workplace
More than 50 per cent of companies block the use of social networking websites such as Facebook and Twitter in the workplace. It is believed that this figure will drop as an increasing number of companies will use the social networking sites to their advantage, to market themselves via their employees. Employees who are able to use the sites during work time will be encouraged to advertise their workplace on their personal pages, creating a larger network of potential customers for the company.
5. Social media will increase with the popularity of content marketing
Many businesses use content marketing as a way of pushing their products and services. Blogs, eBooks and reports are all useful ways of content marketing, and it is thought that businesses will increase the use of them in the coming year. Many businesses will have to be aware that the content being produced should always be of a high standard and marketed in the right place for the relevant products and services.
Social media use is set to increase, and businesses should make sure they are on board and make the most of the opportunities available to them. Traditional marketing should still be adopted, but by putting the two together, businesses will stand a better chance of moving forward over the next few years.
