Social Media needs a new name.
It isn’t really “social” anymore. It is paid.
In 2012, Facebook began cutting down the number of company followers who would actually see company update. This number went from 16% of followers, down to fewer than 2% of followers. Facebook came up with an algorithm to show users to most relevant posts, and importance was given to family members and friends. Company updates, unfortunately, usually wouldn’t make this cut. Instagram and Twitter, which were both run on providing real-time updates, are also infused with algorithms to show users the most relevant and interesting content.
But here is the irony – relevant and interesting content isn’t good enough anymore. Money has to be brought into the mix, and companies’ abilities to reach followers and provide updates organically has dwindled.
Getting updates in front of users is a huge challenge for companies now, and social media strategies for companies are changing fast. Now, social media is a game that you have to pay to play.