Page 10 - Payout Magazine Online Vol. 10.07 - A Look Back In Time with MikeB! The Cam Industry and COVID-19! Articles & More!

THE PRESENT SCOPE OF SOCIAL MEDIA

AND HOW SOCIAL MEDIA IS AFFECTING

THE GLOBAL ECONOMY

ver the last couple of decades, new lines mold it into a force that could have a significant Influencer Marketing
Oof communication have been developed influence on the global economy.
which didn’t exist before. For a while, these Top social media influencers can deliver
new platforms were primarily overlooked by massive exposure for an organization. While
businesses and government agencies. The Scope of Social Media the current global challenges presented by
COVID-19 has softened demand in a lot of
Social media has evolved from a platform
The landscape is markedly different in designed to keep friends and family in touch industries, things will soon return to normal.
today’s digitally connected world, and the into a marketing medium that is integral to Influencers will once again be able to command
various social media platforms have evolved conducting business and keeping the public high prices in return for their endorsement and
into legitimate forms of communication for informed about important events. wide reach.
business and government entities alike.
However, with more and more businesses Video Content Will Grow
With the average social media user
spending an average of 9 hours per day on choosing to integrate social media into their Residential and mobile broadband delivery
social media, the combined might of the social marketing platform, it has become increasingly methods have grown in capacity, and telco
platforms provides a powerful medium for difficult for an organization to stand out. Every providers have been increasing the size of
organizations to connect and engage with so often, new trends emerge which provide their data plans to lure customers over to their
prospects and clients and provide a convenient opportunities for quick thinking marketing side. It all adds up to more video content being
stage for government agencies to keep the managers to gain an edge. viewed by consumers year-on-year. Online
public informed. videos are now as accessible via smartphone
There will always be new trends developing as they are via desktop PC on landline
It’s not surprising that the widespread over the years, but for now, most businesses broadband, and every social media platform
public uptake of social media would eventually should be focusing on: has taken advantage of this capability.

10 PAYOUTMAGAZINE