The Future of Social Media?

In an article published on iMediaConnection last May, a media and marketing blog, author Chris Marentis laid out his 5 predictions for the future of social media, or as he implied "the true merits" of social media. As time goes on, he argued, and social media becomes more universal, the most valuable aspects of social media will become more apparent. He predicted what these will be:

1. Social Media will make big data bigger - OK, we could have guessed this one. This isn't so much a prediction as it is an observation. As we know, Facebook's push toward Messenger and the amazing Facebook Connect function have given Facebook vast amounts of data on users' locations, usage behavior, and more. This kind of data collection is only growing as more apps and social media sites link up and share information. 
2. Mobile Entertainment is on the rise, and social media will become part of that new ecosystem  - Again, ok, not a big jump. Netflix and Hulu already try to share everything I watch on Facebook with my friends...
3. Marketing programs will reintegrate - Specifically, this is referring to the fact that more of an effort will need to be paid to the integration of multiple marketing campaigns and channels running at one time. For example, it will become more and more important that messaging reinforce itself across platforms - digital, print, tv, etc. - and be backed up with complementary and well executed social media marketing. This makes sense, since social media is where the loyalty and brand community is actually developing. 
4. Content marketing will grow - I think it is easily predicted that content production will increase as more people are introduced to environments where they are encouraged to publish content. However, Marentis specifically predicts that there will be a new market for simpler and better designed content management systems (CMS) as well. This is an interesting one.
5. The power of your network will deliver - Social media networks will become more valuable and will be necessary for entering markets. However, creating a respectful relationship with your following will also become vital, and privacy concerns will take center stage. Marketers will need to be careful to not over- or misuse their followers' information lest they face a real and present danger of social media backlash.

Some of these are more observations than predictions, but the points are valid nonetheless. We have already seen that in the cases of privacy and big data, there have already been huge moves forward in these predicted directions for the industry. While I think we could definitely add some more predictions to the list, maybe I should start investing in CMS tech companies...

The future of digital marketing is NOW

While it is generally accepted that the future of business lies with E-Commerce and being able to integrate your physical business into an online reality, businesses will also need to shift their marketing endeavours to the online world. Digital marketing represents the fastest growing new channels of targeted communication, interaction, engagement and delivery for an organization's branding, communications and products and services.

Millennials buy differently than their predecessors, and value word of mouth from close friends highly, which makes a strong, genuine social media presence critical for retailers. "Likes" and "retweets" and "shares" and "pins" are the new branding currency for retailers that will bring new younger customers into the fold. The question is, once a new customer is brought in, how do you ensure a continued and lifelong engagement? The key there is to create and maintain a relationship that is genuinely personal and individualized, and one of the best ways to ensure that is to use data to tell you what a customer's preferences are, and what kinds of offers are likely to attract them.

No successful business in today's rapid changing economy can compete successfully without having a well thought out digital marketing strategy. Some of the components of a proper digital marketing strategy include a website; companies need to constantly find ways to keep driving traffic to their website. A blog, a company's blog is very crucial; it is a medium where a company can share interesting information with their customers without directly selling to them. Social Media, email marketing, text marketing and Search engine optimization (SEO) are all very important if a company is to really take their digital marketing to the next level.

Consumers, especially the millennials has already shut off traditional forms of marketing. New ways need to be developed, one of the most underrated and underused digital marketing trend is that of Content marketing. Content marketing can really propel your business forward. Creating useful, insightful and interesting bits of information for your customers without selling directly to them is important. This makes your customers more intelligent and when they feel that way they reward you with their loyalty overtime. While content marketing has been around a very long time, its value is becoming appreciated more and more daily. This is just one of the many aspects of where marketing is going and why traditional marketing is quickly becoming a thing of the past.

Digital marketing, as with e-commerce and everything online is the present and the future, and failure to adapt could have serious repercussions for companies. Every company should have a digital marketing strategy. Even small businesses are not excused, while companies with huge marketing budget can get a bit sophisticated with their digital marketing. It doesn't cost much for a small business with limited resources to have a content strategy that involves blogging, social media and other mediums that are very cost effective and has been providing an equal advantage for everyone. There are many resources available online for entrepreneurs, no one should be left behind in this revolution that is taking place, your success may depend on this.

Read the full article here: http://www.huffingtonpost.com/nelson-kimron-corion/riding-the-waves-of-digit_b_5553696.html