Social Media and the Economy
How might social media be affected by an economic rebound?
Doing everything I can to perpetuate the notion that the deep freeze of this recession is slowly thawing, I’m happily considering all the ramifications of a return to economic normalcy – whenever that may be.
One area of particular interest is social media. To me, it's no coincidence that the meteoric rise of social media was accelerated in at least some small way by the worst recession in decades.
Whether you are one of the fortunate ones still working with perhaps not as much on your plate, or you’re unemployed with virtually unlimited time to surf, read, comment and even become an ‘expert’, social media provides an ideal outlet for creative thought, dialogue and networking.
If you listen to the Fed and other experts, the worst is seemingly behind us. So what are the ramifications of people becoming busier with actual workloads during the next few years? Might they not have as much time to read 15-20 blog articles and indiscriminately post or tweet to their allegiance of fans about what they are reading and their viewpoints?
Or, what about consumers’ availability and willingness to review messages, offers and coupons from advertisers who are currently falling over themselves – and rightly so – to get in front of the growing number of social media patrons?
You might think I’m leading up to a somewhat negative prediction for social media in the coming years. I’m not. Simply contemplating a leveling-off period in popularity once people have less disposable time and how the social media landscape might change because of it. In fact, on the contrary, I think it’s exciting to ponder how we’ll adjust to this hypothetical reality. And, how can social media become an even more important marketing communications tool in the future?
Like most blogs, I’m solely offering this perspective as food-for-thought – something to keep in mind as we wait for the next big bull market. But because things are really picking up around here, it’s time for me to get back to work.
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