Social Media Revolution

Connecting is just a click away. Social media has changed the way people communicate with one another. Social media has become an integral part of the world as we know it. It is radically reshaping how we interact with one another across the globe at work, home and at play. While social media is still relatively at its infancy, every indication suggests that it will continue to blaze a trail for years to come.

To profit from this trend, or at the very least, to stay current, you need to develop your very own social media strategy and this can only start with a great in-depth appreciation of the new social media landscape. You might want to do this by being an active user. Only by participating are you likely to fully appreciate that, at heart, social media is all about using various technologies to engage in interactive dialogues.

There are many distinct features of both the traditional media and new media. Having distinguished the differences between old and new media, it is important to keep in mind that old media keeps evolving and starts adopting the traits associated with new media, for example the Amazon kindle or ebooks, the distinction over time will naturally fade.

Old media: Predominantly centralized, largely hierarchical, incumbent-dominated, send-and-receive mode, unilateral point of view, highly regulated marketplace, usually paid for, lags in interactivity and creativity, and most importantly it is permanent once published.

New media: Predominantly decentralized, largely flat and equal, newcomer-dominated, opt in-and-respond mode, multilateral points of view, highly unregulated marketplace, usually freely available, no lags in interactivity due to freedom for improvement and most importantly it is editable even after publishing.

There are 6 main types of social media: Collaborative projects such as Wikipedia, Blogs and micro-blogs such as Blogger,WordPress, Tumblr and Twitter, Content communities such as Yahoo, Bing and YouTube, Social Networking sites such as Facebook, Google+, Linkedin, Virtual game worlds such as World of Warcraft and Runescape, Virtual communities such as Second Life.

These are all integrating their value propositions in an attempt to provide their users with the most flexible platform possible. The idea is to allow technology to promote social interaction for the co-creation and co-sharing of value. This has been the clear trend in the evolving new media landscape, from the creation of ClassMates (1995) to SixDegrees (1997) to Friendster (2002) and MySpace (2003) to Facebook (2004) to Twitter (2006) to the latest Google+ (2011).

Some statistics: The adoption of social media is a rising trend. The number of global Facebook users has exceeded 750 million this year, according to Social Bakers. Singapore is naturally part of this trend, ranking as the 49th largest Facebook community worldwide with more than 2.7 million users in it, amounting to a more than 55% local user rate.

Coca Cola, Disney and Starbucks have respectively more than 32 million, 27 million and 24 million fans on their Facebook pages. People join branded communities to associate with brands they have affinity to, support a cause, get freebies, gain advance news on things and to have fun. Businesses have a more significant new media presence to get customers, potential customers and stakeholders to think more positively about their brands, gain loyalty, promote their businesses to others and to assist them to grow their value proposition.

At the end of the day, “the new world of social media” is about human beings interacting with other human beings towards building a simultaneously diverse but increasingly homogeneous culture.

Here are some interesting videos which include many of the statistics that you can quote for your essays.

We are moving from a world in which people passively consumed media into a world which we are both the Producers and Consumers of media (that is, Prosumers)

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Categories: Technology | 1 Comment

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One thought on “Social Media Revolution

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