Answer with Explanation:
Social media is shaping the future of companies and is helping in branding, effective marketing, increases sales from across the world, social connectivity with different multinational brands to know what foreign customer desires and many more. The last decade was the year of change because of social media improvements and shift to 4G.
Many firms are able to acquire best talent that matches their job description, etc. The companies who acquire another social media has increased the innovation adoption by all of these. The acquisition of Whats-app and Insta-gram by Face-book has developed a much more better experience for the social media users. This has also helped the company like Face-book to add value to their subsidiaries by extending their services offerings. People watch their desired videos on You-tube, Net-flix and Daily-motion. Due to their greater presence on social media, the budget of companies to advertise their product on television has significantly reduced and now they are investing their money in social media to promote their product offerings. The best part of social media is that it lets you to target your customer segment which has more tendency to bring sales than the traditional advertisement methods. Hence the advertisement of services on social media will generate more value for money as apposed to traditional TV advertisement.
Following are the some developments that will evolve in the next decade:
- Products rating on the basis how much the products are environment friendly.
- Making best deal for innovated products on international forum will become much more easier than before.
- The world will become so fast due to internet of things that companies that are highly valued like Amazon will increase its presence in almost every country. This will shape the supply chain management, marketing, sales and distribution, etc.
- Promotional discounts on social media will be more effective than before.
- Increasing website traffic by interlinking websites.
- The companies are actively looking for creative employee (Google & LinkedIn) who will add value to their product offerings and ensure better customer experience.
- Developing new emerging markets on social media the example includes bitcoin that helps in tracking our donations, payments, etc.