At the beginning of the month I was asked to speak on a panel that discussed social media, social networks and “what’s coming up next.” In research for this discussion, I came up with a few insights on what I foresee coming up next in the world of social media.
Here are my top 10 prognostications:
1The physical and digital worlds will be more highly connected than ever before — already today we are able to run in the park and track our progress online while sharing it with our friends or track our weight loss, or even our ovulation (well, some of us, that is) with iPhone apps that connect to our Facebook and Twitter profiles and enable us to keep track of our progress as well as share the data with our friends. Robert Scoble had a brilliant presentation on this topic at the last TNW Conference in Amsterdam. You can see it here.
2Facebook, Twitter and other major social networks will become increasingly what Fred Wilson termed “social dashboards.”.In essence, Facebook and Twitter are social channels on which other companies can grow and develop their own technologies and businesses. Both Facebook and Twitter have created economies far larger than many nations. Take, for example, companies like Stocktwits, Tweetdeck and Zynga (among others) that have made huge profits piggybacking on these two platforms.
3Until now, brands have been very concerned with bringing as many people as possible to their pages. Consumer brands can now finally reap the fruits and build social commerce stores where Facebook users (all 600 million of them) can purchase products on their favorite social network without needing to go to any destination site. Facebook will become one of the major channels of future online shopping.
4Companies like Google, Facebook and Amazon are currently collecting information about each and every one of us: our likes and dislikes, our interests and activities. Soon in an age of Web 3.0, an age of Semantic Web, we will no longer need to search for information on the Web as information will find us based on all this data that companies are collecting. The right information will be served to the right people at the right time, saving us all a lot of time, effort and energy.
5Mobile technology will become more dominant and near field communication (NFC technology) will be developed further enabling it to offer us special promotions, coupons and tips based on our geographical location and the interest graph we discussed in insight #3. Continue reading