How are Social Media and Network society leaving significant effects on the economy and businesses?
Manuel Castells’ defines a network society as;
“A society where the key social structures and activities are organized around electronically processed information networks” and that “it’s about social networks which process and manage information and are using micro-electronic based technologies” (1996) (UK Essays, 2015).
The network society affected the way we look at work and the profile of the ‘normal worker’. Nowadays, a worker must possess computer and soft skills, and must be keen on technology. Social media is a fundament to globalisation and being visible online is a natural aspect of today’s economies and businesses (Veraa, 2019).
Are we Over Connected? — The economy in Globalisation
The network society managed to; improve our well-being, our standards of living, remove the boundaries between a nation and another, and provide access to new markets. Putting aside the numerous benefits that the rise of the network society contributed to, the integration of a global economy brought along additional challenges. The main criticism of globalisation and of the network society, thought of as synonyms, is the concern that some groups are benefiting at the expense of other groups and this is determined by how much access they have to information or to network. More concerning is the fact that the world is so connected; if a financial crisis emerge, it is very likely to affect and threaten the entire world and everyone’s economy (Juneja, c2021).
It is important to note that specific societies are experiencing inclusion or exclusion from global networks in a network society which in return affect their respective economy. Castells argues that exclusion could not be simply wiped out as soon as technology embraces everyone because it is one of the network’s society structural features. This occurs because networks exclude those people or territories that have no significant value to a specific task (2004) (Ashby & Poole, n.d.).
Social Media to Promote Businesses
If used well, social media platforms could elevate a business that much that it could become distinct from others. Studies have proved that the percentage of companies making use of media platforms such as Instagram for various marketing purposes, increased drastically in the last few years (Veraa, 2019; Abuhashesh, 2014, p. 202).
Here are four points that every business must remember to be successful on social media:
- The opinions of your audience matter! — You can acknowledge such opinions by involving your customers in a dialogue on social media to listen to what they have to say.
2. Shares matter more than followers! — Having people sharing business’ content marks the new form of “word of mouth”. When one shares, a brand is being reached by a wider audience and bedside that, it shows that the brand is acknowledged by its audience and that they are loyal to it (Hudson, 2020).
3. Quality Content! — Millions of people post everyday hence, for people to stop on your post, your content must be super engaging, persuasive, creative, distinct, and impactful. Research says that businesses should utilise social media platforms to make the audience feel that they are worth the time spent reading or seeing what has been posted (State, 2020).
4. Definite Target Audience! — When you know the demographic you are trying to reach, advertisement is; efficient, direct, and your social media marketing will be successful. You should make the audience feel that the post was written intentionally for them and for their needs and that there is a personal outreach. Identifying pain points helps to figure out who your target audience is likely to be. Reaching people who are interested in you, will boost your business. Another crucial aspect is to re-evaluate your target audience from time to time so no potential customers are left out (State, 2020; Lake, 2019).
The Tendency to Unfollow Brands
For some brands, social media is still regarded as an add-on to their marketing efforts and for this reason; certain businesses do not give enough attention to their social media accounts. Individuals do not think twice to unfollow brands that lack online presence or are not so engaging. Brands should take this suggestion to focus on the customers rather on themselves (Hudson, 2020; Abuhashesh, 2014, p. 205). Excessive promotional messages and tweets, along with other irrelevant information may distract your audience. The competition is so tremendous, that customers could easily find a similar brand that could offer the same service or product, if not better. Another consideration that I suggest is to reply to your audience. This act enforces the idea of involvement and of communication in a network society.
This blog is a project for Study Unit DGA3008, University of Malta.
References
Abuhashesh, M. Y. (2014). Integration of Social Media in Businesses. International Journal of Business and Social Science, 5(8), 202–209. http://www.ijbssnet.com/journals/Vol_5_No_8_July_2014/20.pdf
Ashby, J., & Poole, N. (n.d.). 1.4 The network society. SOAS. Retrieved May 23, 2021, from https://www.soas.ac.uk/cedep-demos/000_P523_MKD_K3637-Demo/unit1/page_10.htm
Hudson, M. (2020, June 23). What Is Social Media? The Balance Small Business. https://www.thebalancesmb.com/what-is-social-media-2890301
Juneja, P. (c2021). Network Society — Rise of Digital Networks. Management Study Guide. Retrieved May 26, 2021, from https://www.managementstudyguide.com/network-society.htm
Lake, L. (2019, November 30). What Is a Target Audience? The Balance Small Business. https://www.thebalancesmb.com/what-is-a-target-audience-2295567
State, T. (2020, July 19). The #1 way for companies to be successful with social media marketing. Medium. https://tinastate.medium.com/the-1-way-for-companies-to-be-successful-with-social-media-marketing-36408ffb37f5
UK Essays. (2015, January 1). Manuel Castells’ theory of Network Society. https://www.ukessays.com/essays/sociology/manuel-castells-theory-of-network-society.php
Veraa, L. (2019, March 4). I’m an Instagram Influencer, what do you do for a living? Diggit Magazine. https://www.diggitmagazine.com/articles/instagram-influencer
