Social media is changing everything. It is changing the way we get jobs, run businesses and consume content. The changes are becoming as disruptive as the internet. So…how will this affect you? History tells us that those who ride the waves can thrive and even make millions out of thin air just by keeping abreast of the trends. For example, Kevin Ham, built a $300 Million Empire from just reserving domains before companies got to them. Just from reserving www.greeting.com, he made a cool $350K. We are on another cusp of great change, and we have been on this journey for a while now. So given the changes…
How we get a job
The typical cover letter and resume is becoming less relevant. Although it is still very much used during recruitment, employers and recruiters are increasingly turning to social media platforms like LinkedIn and Facebook to filter candidates. LinkedIn was recently valuated at $26.15 Billion dollars in July 2015, which is almost triple what LinkedIn was worth at the same time in 2012. According to experts, 98% of recruiters and 85% hiring managers use LinkedIn to find and scan candidates. Fashion models now require an active Instagram account with a strong follower base to be selected for campaigns.
So what does this mean for you and future you?
There is a growing trend of candidates being directly approached by recruiters through social media sites like LinkedIn and Twitter. So instead of employees approaching employers/recruiters about jobs, it has flipped. If this continues to increase, there will be less jobs advertised and obtained through traditional means. How do candidates stand out in this environment? Will it depend on how they market their skills or through their activity/influence on social media? Perhaps both?
How we consume news
Before the internet, print was king as this was the only way to receive news. The printed press has been on a steady decline ever since. Nowadays, more news is consumed on Social Media than ever before as everyone is reading and sharing news content. Instead of visiting a news sites, news is shared on Twitter/LinkedIn and Facebook feeds. Consumers choose what they want to share and journalists/bloggers and businesses can reach their readers instantly. People are also able to provide feedback. There is nothing more gratifying than for a wronged consumer to write a very public customer complaint and to receive a few hundred likes and shares by other disgruntled consumers.
So what does this mean for you and the future you?
The scale of citizenship journalism today offers a freedom that no other generations have had in the past. Now anyone and everyone can create newsworthy content and influence public opinion on matters close to their heart. This presents an opportunity for everyone to participate in any discussion they like.
How we conduct business
The internet challenged many bricks and mortar businesses. There is an online countdown on the death of certain types of businesses, from music and record stores (e.g. Sanity) to book shops (e.g. Borders). Businesses learnt pretty quickly that the difference between sinking and swimming is to establish an online presence and have great SEO. However, consumers are now expecting to be able to establish an authentic connection with the brands they shop with. Recently, Forbes wrote an article about millennial consumer habits and discovered these insights:
- 99% aren’t influenced at all by advertising
- 43% value authenticity over content
- 62% engage with brands on social network
- 75% expect brands to give back to society
What does this mean for business today and in the future?
As people are spending more time on Social Media and connecting to businesses through these platforms, will the success of building an active and connected follower base become as important as SEO?