Mobile Computing, Social Networking and Cloud Computing have been driving tech industry for 2010 and will likely continue to be the driver for this year. What differences, if any, will be felt in evolution of these trends this year. Here are some of my opinions and I sure would like to hear yours on these topics. Part-I of this blog dealt with Mobile issues while Part-II deals with Social Networking issues while Part-III will deal with Cloud Computing.
Social Networking Trends
The three big trends in social networking are:
- Social Everything
- Revenue models of social networking companies
- Social media analytics
First it was about social networking and then it was about social gaming and now it is about social everything including social CRM, social media, social politics and social shopping. Social concepts will become part of every application whether consumer facing or enterprise focused. Will it even be a stand-alone market longer term or just become part of every application? What new social trends will emerge next?
Facebook will go public and after initial euphoria, its valuation will become realistic. Facebook revenue model will continue to butt heads with governments and users’ privacy issues as Facebook becomes the darling of media agencies to precisely target everyone of us. Twitter will finally invent a new business model realizing that its value is in being a hub rather than a content site. Will Groupon become the fastest $1B revenue company in 2011?
Social media engagement and analytics
Every company that didn’t get on the bandwagon of social media will have no choice but to join the party and hopefully learn beyond passive Facebook fans and likes. Companies will learn to build communities and relationships with their users on social networks. Traditional market research will find a friend or foe in social media data as it will move from passive monitoring to detailed analytics. Social media analytics will likely help in predicting various product and services future in a real time fashion. What is your organization doing with social media data?
Unlike the past, Tech industry trends now start in consumer markets. Social media and its use is moving from consumer market into enterprise market and companies will have no choice but to embrace, adopt and analyze social media.