It’s important for entrepreneurs to understand how social media is evolving and changing. 2.8 billion people use social media. In terms of advertising new products and services, there are few things more potent and ubiquitous than social media.
Let’s take a closer look at the things that are impacting the future of social media.
Hyper-Personalization
During the 2016 election, we witnessed how sharply divided the US population has become. This isn’t unique to the United States. Around the world, humans are becoming divided on issues as mundane as brand loyalty, and as explosive as political process and ideology.
Social media firms, like Facebook, have created products that deliver information in a way that’s hyper-personalized. Every morning when I wake up, I reach for my smartphone. As I scroll through my Facebook news feed, I actively “unfollow” people and organizations that share information I don’t find useful or entertaining.
As a result, the information I see in my news feed is more and more personalized to who I am. Humans love information that reinforces personal beliefs, and have an aversion to information that challenges preexisting notions.
For entrepreneurs, this means tools like Facebook’s targeted advertisements are going to become smarter and more powerful. As a marketer, I can better target the people who see my products, and more intuitively develop products for specific segments of society.
Related: Not Getting Results With Your Facebook Ads? Here is Everything You Are Doing Wrong.
A demand for less censorship and even more freedom.
Social media has empowered individuals to share their thoughts and ideas with the tap of a screen. No need to create a blog, develop an audience and constantly stuff it with current information. If you want your entire circle of friends and family to learn about your weekend barbecue, just hit “share”.
Unfortunately, this freedom is being curtailed by many governments. Bangladesh, China, Egypt and many more countries actively censor social media…
