World Social Media Day: Industry experts herald growth of video content, VR and AI
Today on World Social Media Day, industry experts tell us what has changed in the social media space over the last one year and what can be expected to strike big in the near future
Published - 30-June-2017
Social media has been the buzzword not only with netizens using it for personal reasons but also with it slowly but surely becoming the heart of global communication and marketing where even the biggest media companies are using it to leverage their reach and target consumer-specific demands.
As everyone celebrates World Social Media Day today, it was only fitting that we ask social media experts about how the space has evolved over the year gone by and upcoming developments likely to take place in this ever-changing space. Here’s what they had to say:
Rajiv Dingra, Founder and CEO, WAT Consult:
In the last one year there has been a huge growth for visual/video based platforms like Instagram, Snapchat, YouTube and others. Brands have been launching innovative campaigns to utilise the potential of the same. Going forward, in the coming year I foresee integrations of several technologies like AI, AR and VR embedded into social platforms. Filters is nothing but the use of facial mapping and AR and we all can see how big filters are today. I see more features for visual enhancement and live elements being promoted and added to social platforms across.
Ankita Pande, Head of Strategy, iProspect India:
Augmented Reality is becoming the new buzzword around town. It was always existent in some form or the other but was brought to the limelight by Pokémon Go. That phenomenon has further picked up. Live videos are already delivering and there has already been a 600% consumption growth in live videos and that is going to go up (further).
Dedeepya Reddy, Co-Founder, FruitBowl Digital:
The advent of features such as “disappearing stories” across multiple platforms, has led to a race for interface improvement, which will be crucial. Artificial Intelligence will soon be a necessity for customer satisfaction and engagement. Live videos will be a major stepping stone towards the authenticity of future content. Social media will now start adapting to the people, rather than the other way around.
Suveer Bajaj, Co-founder, FoxyMoron:
Measurement has taken priority in the past year. There’s no doubt that social media algorithms are getting sharper by the day, making it harder yet more quantifiable for marketers to promote content. With the introduction of the Instagram algorithm in 2016, nearly every major social network uses some sort of content preferential treatment. Another attribute that has brilliantly stood out this year is visual content. Live broadcasts and Virtual Reality are just the start, we should expect much more as it is still on the rise.
Shrenik Gandhi, Co-founder, White Rivers Media:
With India’s mobile shipments growing by 15% year-on-year, the growth of mobile as a medium for marketing is not surprising. The mobile web traffic in India is 80%, this translates to great opportunities for marketers. It opens doors to new technologies like AR & VR. Also thanks to the data costs going down drastically, video has come up in a big way. The number of video views is a lot more than a blog view these days. The emergence of video content platforms is also a big boon for marketers in terms of discernible content and content distribution.
Hitesh Rajwani, Head, Social Samosa:
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The last year saw the rise of branded content in collaboration with new age content creators, new ad formats across leading social media platforms, surge of AI powered chat bots to enhance customer engagement and experience, and a radical shift from chasing vanity metrics to developing unique metrics, which define the return on social media practices. I believe the latter half of 2017 would see the influx of Artificial Intelligence in social media marketing processes, from planning the Content Marketing strategy to finding the right influencers for the brand, AI would have a major role to play.