Future Implications

Social Media (SM) is an ever evolving dynamic medium between a contributor and a receiver. Hence, there needs to be a good blend of evidence based strategies and tactics to keep it functioning smoothly. If not, an organization is set for a bumpy ride. These challenges affect Social Media Bigwigs such as Facebook and Twitter too.

I think the first part of this question, “the social media landscape is continually changing”, is a huge implication for brands. With the social media landscape always changing, it can be very hard to keep up with the trends and very easy to fall behind. What seemed to be “in” then, isn’t “in” now. What I thought was cool, my 13 year old son thought was outdated. “Facebook, no one use that mom,” is what my son told me when I asked him for his Facebook page. Instagram, SnapChat, and Kik is what the millennials use now. Facebook has been able to keep up with the millennials and the latest trends. “Go live” and the meme’s has become very popular for Facebook and has allowed the company to stay in the game.

The beginning of 2014 predicted the death of Facebook. However, towards the end of the year, Facebook recorded:

  • An impressive revenue of 12.47 billion
  • An increase of 58% from 2013
  • Income from operations for 2014 recorded at $4.99 billion
  • The Net income for 2014 was $2.94 billion
  •  Daily active users were 890 million on average for December 2014, an 18% increase from 2013.

How to Lead Change Mangement

Social media will begin helping companies improve inter-office communications. Although thus far, social media has largely been limited to marketing and community building functions, social media is poised to become an office productivity tool, allowing employees to communicate and collaborate via instant messaging, wikis, virtual work groups and centralized message boards. E-mail is becoming obsolete, and even human resources departments are using social media already to communicate with job applicants and streamline the application process. LinkedIn and Twitter are the new ways to recruit and find top talent. Employees are more likely to refer a candidate to the company using social media. Sales teams have begun using social media to communicate with and track customers through the sales funnel (Holmes, 2012)

 

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