Digital Disruptors: The Global Competitive Landscape of Social Media

Delivery

This report comes in PPT.

Key findings

Social media establishes relevance beyond communication

With more than 70% of globally connected consumers using social media platforms, the unparalleled outreach of these platforms has made them an active space for businesses to engage and influence consumers. More importantly, as user behaviour on the platforms leads to new use cases and trends, social media platforms are evolving in new ways.

Social media platforms see rising importance across the consumer journey

As social media becomes a space for shared experiences and engagement, consumer interactions with companies on the platforms are translating into impact across the path to purchase. From seeking product information, inspiration and recommendation, social media platforms are transitioning into in-app purchases, elevating social commerce opportunities.

With cross-platform integration, social media platforms will enrich omnichannel experiences

The relevance of social media platforms for direct-to-consumer sales will heighten as social commerce prospects look bright. However, cross-platform integration will offer greater opportunities for brands to enrich omnichannel experience by leveraging social media across other channel formats.

Integration of mature and emerging technologies is set to transform social media

Existing and emerging technologies will seek social media applications that would reshape user experience on digital platforms. From artificial intelligence empowering on multiple fronts, deployment of new payment methods, to mass adoption of personalised avatars, social media platforms stand as a bridge to the next phase of digital solutions in Web3 environments.

Finding new revenue streams through new pricing models and diversification is next on the agenda

Despite the apparently competitive social media landscape, white spaces exist and understanding user behaviour will be key to continued growth for players. As social media platforms move into a maturity phase, most will explore new revenue streams via freemium pricing models, brand platform diversification and integration of additional services.