Social Media Lessons From Snapchat - Kylie Fiasco
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I have been astonished lately at the social media explosion. I guess I’m a late comer to the scene; I am ashamed to admit that new technology has always scared me, but more than that, I always seem to be too busy to be bothered as it really does take some doing to be ‘on top’ of my output on to these social media sites; but it appears that this is a huge mistake for me and my business..
Social media platforms have grown exponentially over the last few years and we have seen these sites change lives in ways we can only gasp at! The companies themselves are seeing gains beyond belief in their growth and profits.
However, as amazing as it is that there are benefits to people, lives and profits, there are down sides too. Social media can damage us and damage businesses, including their own too, as we have seen over night, with the dramatic drop in share price for Snapchat.
This is all due to the popularity of one famous user, who has built up her following by millions!. Who would have thought it? With one disparaging comment on Twitter, Kardashian, Kylie Jenner’s influence on social media as almost single handedly, wiped out $1.3 billion in market value. However, this also snowballed, with followers and other influencers adding to her comment and tweeting similar replies, citing negative recent user engagement trends since the platform’s redesign.
So, what is this redesign?
Well, algorithms drive all that is done on the social media platforms, from FaceBook to Instagram.
Facebook, for example is changing it’s algorithm that runs the news feed. No longer will it prioritise “helping you find relevant content”, says the site’s founder, Mark Zuckerberg, the new goal is to help you “have more meaningful interactions”.
This has a huge impact on brands and organisations, using Facebook to interact with users, as the balance is changing. This type of change was seen across the social media world too.
So, what can we see in 2018?
Well, without doubt, social media will continue to grow and evolve. Already we are seeing the social media landscape moving towards copycat marketing such as Instagrams ‘stories’, almost replicating the SnapChat model. Competition is now critical with apps and social media websites vying for our custom and usage. Being able to interact with us so dynamically, creates more demand and hugely increases advertising revenue.
Take Instagram for example, the latest trend enables us to shop on the app, creating instant purchases. This is massive for those companies advertising or ‘promoting’ their products or services. I had a comparative look on Amazon to see if I could purchase these advertised items and 90% of the time, I could, at a lesser price. It was the same with Ebay. This means that advertisers on Instagram, are capturing consumers in a split second, creating interaction and gaining an instant sale. Many of the companies increase sales revenue and so see additional profits in a market place that is very easy to reach and hugely targeted for very little expenditure.
So, let’s keep watching this world wide phenomenon, and if, like me, you are late to the party, just join in. It can be fun, re-warding and profitable and not only for us, but for the brands too, as this relationship has never been closer.
If you are still worried about getting involved, get some help – a social media expert will change your business and your world.