Aristotle, the great Greek philosopher had said “Man is a social animal,” but in the 21st century, it is more pertinent to state that “Man is a social media animal”. Social media networks have entered our lives deeply over the last decade or so.
We are now aligned towards a world where the line between our real and social life is becoming increasingly blurred. While it took decades for social networks to gain popularity as a viable communication tool, the fast pace at which technology is shaping the world is unfathomable.
But the question here is, whether social media will be extinct in the upcoming decade or see a fast-paced evolution?
Well, what if you told your grandparents that in the coming 20-25 years they would be able to access the latest happenings around the world at the click of a mouse? They probably would’ve rolled their eyes just the way you moved yours upon reading the word ‘extinct’.
Let’s dive in deeper.
What role does social media networks currently play in our lives?
Several social media platforms have established themselves as our go-to communication channels, allowing us to stay virtually in-touch. Have a look at some of the social networking trends by Statistica to understand the role that social media is currently playing in our lives:
- 78 billion people stay hooked on social media as a part of their daily lives – a five percent increase from the last year
- Individuals spend around 144 minutes per day on messaging apps and other social platforms
- An increase in the number of mobile devices is driving the growth of social media platforms globally
You can get an idea of how social media networks can be leveraged to go viral in our blog (Viral Content on Social Media: 6 Effective Ways). Social media plays a reasonably large role in our daily lives. Drew Sandholm looks at social media as a rudimentary communication platform that morphed into a multi-dollar business and social tool.
Is social media losing its mojo?
The past decade saw a rise in the popularity of various social media platforms’, but some studies reveal that social media is losing its mojo. Let’s dig in some numbers to substantiate the fact.
By the end of 2020, the organic reach of a Facebook post is declining rapidly. In 2018, the organic reach was 7.7%, which later plummeted to 5.7% in the year 2019, and in 2020 it dropped dramatically to 5.2%. While the numbers might seem disheartening in the first glance, it is a relief to know that this decline is not just for you. Here’s a catch, even the top brands that failed to create a backup strategy are seeing a reduction in their post reach and engagement.
Twitter has its own set of problems. With more than 6000 tweets published per second, Twitter is not far from turning into a noise factory. In one of his podcasts, Neil Patel declares Twitter “dead” because only 2% of his followers contribute to website traffic each month.
Isn’t it strange?
“Too many people on too many social channels have made social media too noisy.” – Richard Williamson.
Social media is a broad term, and there are a myriad factors behind a decline in engagement rate. It is likely to associate these changes with the ever-evolving cultural environment. Everyone is contributing their bit to social media, and this ubiquity is affecting its effectiveness. The number of people delivering content is increasing exponentially, and the value of content is declining significantly.
Evolution, not extinction
It is easy to label the decline in the engagement rate as a phase that will lead to social media extinction. But, the opposite is true because social media is maturing and changing. The hype around social media has died off, making it harder for marketers to develop versatile, creative strategies to garner results. Social media will expand even further as most of the social landscape is driven by technological innovations. As long as technology evolves, it will keep opening new doors for social media platforms to empower individuals in diverse ways.
The challenge in the coming decades will be to maintain the “human touch” as ‘social’ becomes more immersive. Facebook says that its goal is to encourage people to share more and stay connected through the internet. Most people rely more on Facebook than any other social network. It helps us stay connected with colleagues, relatives, friends, and coworkers. It will be exhilarating to look forward to how communication evolves through social media platforms such as Facebook, Instagram, Twitter, Tik Tok, and many more.
The future of social media networks
What happens next in the social media landscape will be influenced almost inevitably by the evolving market models and development in technologies. How will platforms like Facebook, Twitter, and TikTok gain revenue? Moreover, will end-users adjust to the dynamic social media landscape? Subsequently, can brands maintain their legacy by creatively building strategic campaigns to engage and grow communities using social media?
The answers will decide the next step in the evolution of social media.
According to Entrepreneur, consumers would be gravitating towards services that give them the freedom to:
- Customize and personalize their experience at a granular level
- Reduce the amount of dispute on social media news feeds
- Improve commitment to data rights
- Concentrate more on building thriving communities
According to Entrepreneur, this could lead to paid delivery platforms on social media. While retaining an authoritative brand voice, it would be a struggle for advertisers. Especially to satisfy the shifts in demands of social media users.
What will you witness next?
The future of social media networks is not limited to the boundaries of innovation and imagination. The past decade has proved that the rapid evolution will continue, and new social media trends will emerge. Nevertheless, it will be interesting to see how leading social media platforms retain their position as leaders.
So, will social media maintain its relevance with the evolution of technology? What do you think?
In conclusion, Man is a social animal. And the future of social media in the upcoming decades will be quite interesting.
