Social Media in 2020 – The future possibilities
The evolution of Social Media started in year 2003-04 with LinkedIn and Facebook as the main players. It became a buzz in India when Orkut caught up the imagination of those who were net savvy and had an urge for social connections. However, the post recession era saw Facebook and Twitter emerge as the leading players, while Flickr had its own share of limelight before Pinterest emerged on the scene.
What started with affable integration between apps and platforms is coming to an end due to growing completion among the major players. What could have been a benefit for users, with platform providers planning full integration of tools and technologies is also ceasing to exist. For instance, Facebook again has set the trend by shutting of Vines product from Twitter.
The “Social competition” is making its presence felt and is well set to enter the playground big time. The fight for ‘Mindshare’ and as a result ‘market share’ is increasing dramatically. Even on individual level fighting for influence and authority is growing at significant rates. For example, if you do not have at least 2,000 followers and so forth, you have nothing to say. People won’t even get into prestigious groups on LinkedIn if they don’t have decent social credentials.
NEXT COUPLE OF YEARS
The prevalent social competition may inspire new tools and services and help businesses to better compete and focus on customer value. Social media will be the mainstream like Internet, cell phones or television. The digital divide would unfold in its full dimension. Those who reject the evolution will have the hardest time. Lack of knowledge could be picked up in crash courses in a week but connections and influence take months to build and years to perfect. With all the high pace on everything – the social web could just teach us time management in an all new dimension.
Social Media would then be understood as a technology that massively changed the way we learn and collaborate. Businesses will re-design not only the processes but also the tools i.e. CRM, ERP etc to make them run on the Social Web at a much grander scale. IT, communication, transactions would happen more openly. Proprietary thinking could make way to ultra high speed collaboration and time to market will outweigh IP protection.
But that is just a beginning. It may take another 10 to 15 years to get this into mainstream doing business around the globe. In a gist, the next 7 years may recognize Social Media as not just another piece of technology but a new era quite similar to the industrial revolution. While the industrial revolution changed the way we produce, the social revolution would change the way we sell, market and deliver our solutions.