Community, content and commerce: Critical to future social media success

“Any entity can only grow in three ways: increase its community, offer more content diversity and/or enable greater commerce. Once these three areas have been fully saturated the platform can no longer survive,” wrote David Giannetto in The Huffington Post.

Twitter in trouble?
If building community rules, Twitter’s in trouble. Although it’s the channel of choice for our 45th president, that attention isn’t helping Twitter build community. “If relevance were the barometer of the company’s success, Twitter’s stock would be worth 50 times what it is today,” wrote Nick Bilton in Vanity Fair. “…even after more than 62 million Americans somehow voted for Trump, he still only has 18 million followers on Twitter, a large percentage of whom are actually bots.”

Streaming live

Tweets don't boost community
Newsworthy tweets don't necessarily boost community.

If content diversity can also augur success, Twitter’s saving grace may be Periscope, a live video stream platform purchased by the company in 2015. “While there are a ton of streaming sites and platforms out there, both Periscope and Facebook Live are among the most popular…,” wrote Sophia Bernazzani on Hubspot.com. “(In 2017), keep an eye out for new features rolling out to the different live streaming platforms to amp up your video strategy.” Bernazzani notes Facebook Live’s upcoming 360-degree feature as an “amp” example, offering visual surround sound capability.

Commerce is king
Increasingly, people use apps to either buy online or glean information that leads to in-store purchasing. Facebook, Instagram, Twitter, Snapchat and Pinterest all allow app purchases.

“Over-the-top (OTT) messaging and SMS messaging are millennials’ preferred form of communication,” wrote Forbes.com contributor Jimmy Rohampton. “Sixty two percent of millennials are more loyal to brands that engage them via those channels and an estimated two billion users will be messaging through OTT apps by 2018….Millennials want the personal touch, transparency and collaboration that the one-on-one communication allows.” Rohampton says that websites may become obsolete as customer interaction increasingly takes place via social media.

Giannetto concludes “(Google, Facebook and Amazon) continue to survive, relatively unchanged from their initial inception, because they are relentlessly focused on giving consumers what they want by increasing their community, content and commerce.”

Sources:
(Giannetto, David. “The Future of Twitter? Statistics Show 2016 Death,” 15 February 2017, The Huffington Post, http://www.huffingtonpost.com/david-giannetto/the-future-of-twitter-sta_b_9232280.html. Accessed 25 April 2017.)
(Bilton, Nick. “After Trump, will Twitter wither?” 4 January 2017, Vanity Fair, http://www.vanityfair.com/news/2017/01/future-of-twitter. Accessed 25 April 2017.)
(Bernazzani, Sophia. “7 Trends that will Change Social Media in 2017,” 13 January 2017, Hubspot.com. https://blog.hubspot.com/marketing/social-media-predictions-2017#sm.00007kyjvyfgde4qqq512bmyuacgp. Accessed 25 April 2017.)
(Rohampton, Jimmy. “5 Social Media Trends That Will Dominate 2017,” 3 January 2017, Forbes.com, https://www.forbes.com/sites/jimmyrohampton/2017/01/03/5-social-media-trends-that-will-dominate-2017/#1ab849fb6ffe. Accessed 25 April 2017.)

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