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The Future of Social Media
The future of social media will continue to rely heavily on Influencers and more on location-based services and get more fast-paced as time goes on We have seen the success of social media applications like YikYak and Snap Maps that rely on location-based content from consumers The success of these location-based apps is most likely due to the niche type of content that is more relatable to the consumer due to proximity With the increasing popularity of these applications that rely primarily on location-based content, we will most likely see more applications introduced that do the same We have also seen that people have lost their attention spans and can only focus on one thing for so long People need to be constantly engaged, and that comes with quick content that does not drag on and has quick changes of pace, like quick cuts and transitions on Tiktok videos In the future, we will continue to see fast-paced social media applications, which will most likely speed up in pace "In China, there are many different short video mobile apps, such as MeiPai, whose slogan is "10 seconds can make a blockbuster"; KuaiShou, whose slogan is "be an average social person"; and Douyin, whose slogan is "specialized in new generation's short video community Douyin started in September 2016, and one and half years later, the world version of Douyin, namely, TikTok, started." (Sui, 2021)
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Brands have been able to utilize influencers to generate sales and promotion of their products on apps like TikTok This new advertising wave has opened the door for companies looking to promote their products Since "Influencers" posting products have already built a connection and trust with their audience or followers, their community is more likely to purchase a product on recommendation from this "Influencer." "Schouten and colleagues (2020) provide evidence that influencers (vs. celebrities) are more effective in eliciting positive ad responses because consumers find it easier to trust and identify with them." (Gräve, 2022) There is a certain level of trust and familiarity consumers have with social media influencers that help encourage them to purchase a product "For example, Schouten, Janssen, and Verspaget (2020) found that perceived trustworthiness and expertise mediate the effects of endorser type on attitude toward ads, brands, and purchase intention with beauty products (e.g., tinted moisturizer)." (Kim, 2021)
This chart shows the increase in brands paying money to influencers.
Another reason "influencers" will become a more heavily seen thing in the future of social media is because there is also a certain level of desire to be like and envy an influencer for those who follow a social media influencer, and this envy and desire drives followers to purchase products to be more like the "influencer." "Although limited, few studies have also demonstrated the associations between gratifications sought from SMIs' content and consumer purchasing behavior For example, Ki and Kim (2019) evidenced consumers' desires to mimic an SMI as a central antecedent to both intentions to share and like an SMI's content and purchase their products." (Lee, 2021)
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When brands are choosing influencers to market a product or service, they not only try to find Influencers that relate to their product or niche, but they also try and find influencers with a high number of followers The higher the number of followers an Influencer has, the more extensive the reach those influencers have to potential buyers and the larger the credibility those influencers have "It is also important to note that the number of followers an influencer has can help be a driving factor in the credibility of an influencer for a consumer actually to purchase a product an influencer promotes "In line with these observations, De Veirman, Cauberghe, and Hudders (2017), who compared user responses to Instagram influencers with a moderate number of followers (2100) and a high number of followers (21,200), found that the last were perceived as more popular and more likable In addition, in earlier work focusing on traditional celebrities, Jin and Phua (2014) demonstrated that consumers were more willing to buy a product endorsed by a celebrity on Twitter when this person had a high number of followers, as opposed to a low number of followers Research findings thus seem to imply that influencers with a large follower base are more successful product endorsers." (Janssen, 2021)
This chart shows the increase in influencer marketing spending since 2019.
Cashapp sponsors TikTok influencers to promote their service.