Is Social Media the Latest Fad, Or Is It Here To Stay?

It is a common question asked time and time again.  Is social media the latest fad or is it here to stay?

Statistics show in Australia that social media is well utilised.  Facebook has over 13M users; YouTube 12.6M unique Australian visitors; LinkedIn over 3.6M with Twitter having 2.5M active Australian users.  This doesn’t take into account the almost 9M who have a blog account or the 4.7M who engage with Tumblr.  Regardless of what people think about social media, it is definitely well consumed.

Social media is more than just the technology and this is where social media really comes to the fore.  It is the communication shifts which are taking place which dismiss the fad theory.  Social media is arguably transforming the way we communicate and placing more of a ‘voice’ with the general public meaning they can connect, converse and engage like never before.

This kind of shift means that potentially everyone has a voice.  Whether this voice is equal for all is another argument.  What this means for business is that to a degree business will find it harder to dictate the one way message they want consumers to hear.  The traditional top-down approach no longer works effectively as social media provides a bottom-up approach opportunity.  Consumers are becoming increasingly hostile to being forced-fed messages and are more likely to want to engage with the business they interact with.

The business vs consumer relationship is shifting.  The unbalanced relationship in favour of the business is changing.  The consumer has far more control than they did previously putting them in the driver’s seat.  What this means for business is that business models need to change and they need to get serious about social media.  Business is to a degree becoming ‘social’ and the business models need to reflect this.

Business needs to adapt and embrace business models which are social.  This is a true reflection of the 21^st century we live in.  Social media is definitely not a fad, it has well and truly shifted the way we communicate.  The old way of marketing is no longer effective.  Business needs to reflect these changes.  Those businesses that don’t reflect these changes are unlikely to be successful in the long term.

How is your business changing the way you communicate with consumers?

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Tags: Business & technology • Business vs Customer relationship • Communication shifts • social Media