We will all be grateful for our own foresight if we get on board now with the right platforms for the next 10 or 20 years.
Last year I gave up using the ‘big tech’ social media networks such as Twitter and Facebook. It was partially a ‘boycott’, although only for my own satisfaction: I’m well aware that those companies don’t care one way or the other whether or not I’m posting there. The main reason though was that the net enjoyment I was getting from them (delight minus irritation) had dropped below some sort of red line in my mind, and I just didn’t want to fire up the apps any longer.
It proved surprisingly easy to do this, and my life is better for having 99% less angry politics, grifting and 2-for-1 sales on stuff I don’t need.
So why do I mention this? I think there’s a drift away from these social media networks which is not coming back. The platforms themselves will move on and make money elsewhere, so they won’t try to stem this tide. For those businesses who are seeing flat or declining results from their social media efforts, it may be time to plan ahead. There are probably three things to consider:
- Growing equivalents to existing declining platforms (e.g. Bluesky vs Twitter/X)
- Where the existing declining platforms might be going (e.g. Meta/Facebook’s Metaverse)
- Next-generation platforms which have already made it to the big league (e.g. TikTok)
If I knew what was going to happen, I’d already be on a Caribbean beach enjoying the proceeds of my investments – and of course every business will have its own relationship with social media, including many with zero involvement. However, what online history has taught us is that those who are onboard earliest usually get a massive advantage, and we will all be grateful for our own foresight if we choose the right platforms for the next 10 or 20 years.