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Social media is a new nightmare
Why are companies finding it hard to leverage social media? With the world's largest technology IPO..

IT SEEMS to be a logical choice for companies as there are millions of users on social platforms such as Facebook or Twitter. For any company trying to establish itself on the social platform, this can be a very daunting task especially with the numerous choices available. There isn't necessarily a clear path or strategy for companies to get into this new arena. It is not very clear as to where to begin, how much is enough and how to measure the benefits. Do the companies just create pages on Facebook or create Twitter feeds and stop at that? What do they do with the data collected? How do they analyze and it and use it for revenue generation? Is there someone qualified enough to understand and interpret the data being made available or is this just a new way of just collecting data for the sake of it?

 
For a business, there are a number of options available on social platforms! It isn't just Facebook or Twitter anymore. There are options available for streaming data, the apps developed on social platforms, the connectors between platforms, analytics on the Social data, commercial platforms so on and so forth.

Many companies have now started to pull out the funding for such initiatives mainly because of two reasons. There is no clear end to the funding required as each tool investment leads to a necessity to acquire more tools to make sense of the tool already purchased. After you accumulate data on customers how do you make intelligent sense out of it? After you have understood the pattern how do you translate it to a viable business opportunity?

Difficulty in measuring business benefit apart from clearly being visible on a social platform. According to latest analysis by some experts, returns on Google ad-sense is a far better return than investing on Facebook.

As with all great initiatives, as time goes on, the simplicity disappears and everything begins to look very complex and un-usable. Social platforms are headed the same way.
 
Social platforms do offer a fantastic medium to stay connected with friends across the world for free but they do this at a price. The price customers pay is the loss of privacy and sometimes this can go too far in privacy invasion issues. Some of the new platforms coming are so scary that many users have started deleting their accounts or have just stopped posting anything new. An interesting blog by a FB user who deleted his account recently. So if the number of users dropping keeps increasing, the investment companies are making to track or manage customers, may not work as effectively as planned - leading to revenue dips. Also, you don't want customers suing you for privacy issues so one would have to be careful while investing.
 
It will be an interesting time ahead as the pull and push of demand and supply will determine the future of social media. Companies will, however, need to tread carefully so as not to spend overtly on such initiatives. Sometimes, moderation is the name of the game.


Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
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