You might be in an industry that relies heavily on social media as part of your business model. If you are, then you’re not alone.
Thousands of companies are quickly discovering the need to utilize social media in their business and marketing strategies.
In some cases, they’re discovering that social media is completely changing the way that their company functions.
Here are three industries that have been dramatically changed by social media.
Multi Level-marketing companies such as Amway and Mary Kay have long sold people—primarily women—the idea of building a business by working their social connections. A decade ago, that happened through hosting parties or classes; these days, the chatty, relationship-based sales pressure favored by the companies takes place largely on social media, and the industry is attracting a greater share of young people (The New Yorker – doTERRA). In other words, social media has brought the idea of owning an MLM business to a younger demographic and given these people a new outlet for outreach.
It’s no surprise that the news industry is among those most dramatically affected by the rise of social media. Newspapers are suffering and being driven out of business, for example, as many people now prefer to get their news for free online. Social media has also made it possible for almost anybody to be a distributor or source for news, which is both a good and bad thing, since the news has become more accessible but also less trustworthy.
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A third industry that has been dramatically changed by social media is computer programming. More and more programmers are turning away from large software package development and favoring smaller mobile-based apps that interact on social networks instead. Many of these apps take advantage of the social aspect of social networking to involve people and their friends in games, surveys, and other endeavors. Although, recent concerns about how this affects user privacy on social networks may create yet more dramatic changes to this particular industry.
What Does This All Mean?
Social media has become a driving force for change in many industries. It will undoubtedly continue to play a large role as the way people engage with social media continues to develop and evolve. Some industries will thrive alongside social media and others may fall behind. The key to success will be in how quickly industries adapt to the positive or negative effects of social media.
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