With the rapid evolution of technology, the early 1970s saw the conceptualization of social media. Social media platforms that we are familiar with began appearing two decades later, in the late 1990 and it was only a matter of time before social media transformed into a powerful tool in the world of business and marketing. In this article, we’ll explore the evolution of social media marketing, and how businesses can adjust and stay ahead in a speedily changing digital landscape.
The origin of social media
By the late 1970s and early 1980s, computers were increasingly common to find in people’s homes, and technology was becoming classier.
The first known social media platform, Six Degrees, was introduced by Andrew Weinreich in 1997 and introduced social networking – allowing users to upload profile pictures and befriend other users. Around the same time, several blogging sites, like Open Diary, started gaining popularity, starting an online singularity that people know and love today.
A brief history of social media marketing
Social media began to be used as a marketing tool shortly after it total a large audience. Marketers saw the potential of social media in marketing. In less than a generation, it transformed from a direct electronic information exchange and a place for virtual community gathering, to a retail platform and a critical marketing tool.
The giant known today as Facebook was the brainchild of a young Harvard student, Mark Zuckerberg. In 2004, he founded The Facebook, as it was known back then. Facebook rapidly gained popularity amongst university students, and in the same year, PayPal founder, Peter Thiel, invested $500,000 in it.
In 2006, Facebook expanded its network by allowing users from outside of universities. By October, it had garnered 50 million users, and a month later, Facebook Ads was launched.
“A completely new way of advertising online. For the last hundred years, media has been pushed out to people, but now marketers are going to be part of the conversation. And they’re going to do this by using the social graph in the same way our users do.” – Mark Zuckerberg, 2006.
This is how Facebook became the torch bearer for social media marketing.
Social media in business
With the advent of high-speed wireless internet and smartphones, people could take their communities wherever they went. This kind of consumer mobility allowed businesses to introduce new, simpler methods of purchasing goods and services and customer interactions.
The Rise of Influencer Marketing:
Another significant development in social media marketing has been the rise of influencer marketing. Influencers, individuals with a large and engaged following on social media, have become powerful brand advocates. By partnering with influencers whose values align with their brand, businesses can reach a highly targeted audience and build credibility and trust. Influencer marketing has proven to be particularly effective for reaching younger demographics who may be doubtful of traditional advertising methods.
The business experience
With the rapid growth of user bases into the hundreds of millions, the business applications of social media platforms began to take shape. Because users nowadays share almost everything on social media, it makes it easier for marketers to target specific consumers. It’s no surprise that social media companies have access to some of the richest trackable user data.
Social platforms like Facebook, Twitter, LinkedIn, Instagram, Pinterest, and others started monetizing their services through sponsored advertising in various forms. At the same time, businesses discovered the huge potential that came with an active, engaged social media presence. Creating and sharing informative or entertaining content on social platforms have helped brands to grow an audience without paying for it directly, i.e., organically.
The future of social media marketing
The future of social media marketing will most certainly be shaped by the evolving business model, as well as advancements in storytelling technology. There are already several trends beginning to emerge:
The metaverse – In this virtual-reality space, users connect with other users in an interactive computer-generated environment. The metaverse potentially transforms how we digitally interact with one another. The payments industry is also taking the initiative to support commerce in the metaverse, which is a positive sign for metaverse entrepreneurs.
More cultured influencer campaigns – A trend that we will see in the near future is long-term partnerships and collaborations with influencers. This will build a rapport with not only the influencer but also their following, and in return, influencing brand loyalty that significantly improves conversion rates and ROI. Businesses will soon ditch one-off campaigns and invest in the right brand ambassadors as part of their social marketing strategy.
New platforms – As time goes by, newer platforms continue to emerge. Consumers will prefer platforms that will allow them to personalize their content even more and at a granular level. They will gravitate towards services that focus more on privacy protection and allow more utilization of their smart devices. Certain social media platforms saw the potential of the situation and have already introduced paid subscription services. The challenge for marketers, however, will be the ability to meet these shifting demands of social media users.
Social media videos – While video marketing already has a significant presence in social media, its prominence as a marketing tool is only expected to grow in the future. Currently, it is considered the top form of media content on social platforms.
Conclusion
The evolution of social media marketing has transformed from basic networking to a data-driven, authentic, and increasingly integrated strategy, with video content and social commerce directing the landscape, and businesses needing to prioritize agility and adaptability to stay relevant. It has evolved from basic content sharing on early platforms to a classy, data-driven discipline, now incorporating diverse engagement methods, targeted advertising, and influencer marketing to build brand awareness and drive sales.
READ: Mobile Marketing Techniques