Worldwide ad revenue for social media networks is forecast to top $50 billion in 2018, which means social media has a bigger impact on corporate communication, advertising and marketing than ever before. Currently we are living in a society that cares more about the newest updates on social media platforms than it does the presidential debate.
In the social media platform world today, we can use the rising controversy between Instagram and Snapchat as an example. Instagram is a follower platform where Snapchat is more of a best friend platform. Snapchat hasn’t encouraged brands to build up huge followings. Heart icons do not exist for people to express their approval on Snapchat, which makes it harder to follow accounts because users have to know exact names and phone numbers to find them and add friends. Instagram makes searching a breeze, and its lets brands buy ads that directly link to their accounts, where people can follow them within seconds. These companies benefit largely from using social media. They are able to gain popularity and promotion as a brand, create a positive image, and receive customer responses. Marketing segmentation can also help companies become more successful. If companies can identify certain groups of people or organizations with shared needs and characteristics within the broad markets for consumer products, they can transfer these groups into larger market segments according to their mutual interest in their own products utility.
While we may be too caught up in our devices to know it, our online lifestyles have begun to make a real impact in our offline worlds, a trend that doesn’t seem to be reversing. Corporate communication, advertising and marketing have influenced these lifestyles repetitively as a cohesive unit. In 2014, Facebook talked with lenders about the possibility of linking profiles to credit scores, and one recent survey showed that 40 percent of college-admission officers now say they peruse applicants’ social media profiles in addition to evaluating G.P.A.s and essays. Most millennials are treating social media like the stage for their own reality show. Social media allows its constituencies to show the best versions of themselves online and in the corporate and advertising communities. This, in its own way, has provided us a means of generating “other selves”. We are either oversharing, or under-sharing, and it makes me wonder to what extent our online selves are true to our actual self? From a corporate communication standpoint, I believe that we are being lead in the direction to use social media as a prism. This prism projects only what we want others to see.
Social media’s role in corporate communication, advertising, and marketing is something bigger than ourselves. With manufacturers portraying their brands as different from and better than similar competitive products through advertising, packaging, and physical product differences, different constituent groups are feeling more connected by the hour.
By: Shannon Quinlan