Monetizing social media – course of change and inability to predict future


In this short essay I discussed about the current value of the articles from week 2. With this I mean that, in terms of technology and media usage, the years 2010 and 2011 were much different than they are now. I discussed in what ways their theories still apply to modern media usage and in what ways they were right. All of the articles, in a way, talked about implementing new technologies into one’s business in order to achieve the most possible with modern technology. However, at first I thought that all electronic businesses are aware of this until I found an infographic that proved me a bit wrong. The US Social commerce – Statistics and Trend infographic showed that there are still businesses that do not implement social media buttons to their websites, namely, 14% of top 25 companies, which I found very interesting.

So, to go more into depth, I found more modern articles, such as Jaconi (2014) in which I found that many modern businesses are turning more to the side of “uberification” or on- demand economy, which is another new way of selling your products to the end customer using the modern tools. The importance and power of using such tools is shown through articles such as this one. Especially, because it is a more revolutionary way of thinking. This article explains how businesses have reached high and quick success due to the implementation of modern tools.

For my cases I have used AirBNB and Lolly Wolly Doodle, in both cases the businesses use modern technologies and the on demand economy to further advance their businesses. In the case of Lolly Wolly Doodle, its a small-town manufacturer, who became one of the hottest seller on social media because of their collaboration with the consumers. The manufacturer did not only talk to the customer before the sale but also afterwards to improve their experience of her products. Although, her job is not as easy as it sounds considering that all customers have all kinds of different needs. On the other hand, AirBNB implemented modern technologies to create a medium for people that want to rent their place to the end customer for a cheaper price than regular hotels. So, AirBNB found a way through the house-owners to meet the end customers needs by involving other customers and using their reviews to adjust and or improve the places that they rent.

To conclude I found that the three articles have made some mistakes in their predictions, but they have made one of the most important predictions and that is that modern technologies are evolving on very fast pace and that the businesses should keep up with that to their on benefit.

Reference:

Jaconi, M. (2014, Jul 13). The ‘On-Demand Economy’ Is Revolutionizing Consumer Behavior — Here’s How. The Business Insider. Retrieved from: http://www.businessinsider.com/the-on-demand-economy-2014-7

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