Week 3, Online Consumers & Business Models. Shifting ? and $$$
- Patrick Santoso
- Jul 30, 2020
- 2 min read
Updated: Oct 7, 2020
Hello, everyone. This week materials is about how online consumers is changing and it's business model to capture them.
It's amazing now that you think about consumer behaviours, it is always changing consequent to the ever growing technology and applications. People use social media more than ever, to gain audience, entertainment, and even find community. Funny is it ? now that more and more people are using social media to gain audience then monetize them.Rather than amassing an audience for sharing and free content instead, nowadays we have to achieve $$$, MONETIZATION. Using applications such as Youtube, Instagram and many more.
The Users, the group of people that use social media . They play part of the shifting that is happening. Shifting the trends from using computer device to mobile device , from communicating through calls and now chats and videos are more used as a way of communication, from bundling several benefits to apps that only serves a single purpose. There is an app for everything. But turning users to consumers to earn $$$, How ?
We can earn revenue from this growing social media through several ways. We can earn it using ads, selling products, subscription and many more, now would you take a look at the revenue Youtube generated using ads. HUGE AMOUNT, how do they do that ? using digital marketing and a large audience, that is possible. They gain traffic from people visiting their app, Youtube then offers the service of ads to other companies that might need the traffic. Ta Da, thus the amazing amount of money is created. but then again it's about the value and preference
Also, let me know which one will you choose in the comments!!!
Other than that, you also can see the shift in retail market. You need an item ? Just a few clicks away from the "mall". Very neat. Online shopping is needed more than ever especially because of the CoVid-19 Virus that requires people to do social distancing, use mask, might as well stay at home and get items delivered right to your doorsteps.
Looking back to 1990's, many people thought this wasn't possible, heck, even google has yet to be invented. (and there are no virus back then). Online services are "having the time of their life" as their service is more needed than ever. Then again, compare the risk to the benefits.
Just remember. Planning a structured model is critical to earning the $$$ using social media platforms. Creating values for potential customers is CRITICAL. Last but not least Add your own touch to it, make it interesting. Become attractive. oh and i provided a link of a blog on how to find a potential customer. You're Welcome.
See you guys in the next post. Toodle loo~
Sally, yeap they definitely are more focused on getting that $$$,
Po, i also agree that more businesses should use advertisement and promotions as a way to improve their sales, also that way influencers and digital marketing majors like us can gain more profit by promoting their businesses, the relationshipis mutual.
Anyway thank you for the great comments. I'll be posting more interesting content than this one.
ANY COMMENTS CAN HELP ME IMPROVE MY BLOG
It's crazy how much money social media platforms make on advertisements. The thing is if there's demand, there will always be supply, so even if the ads are not effective (for some reason), the contents will still be exposed to a large amount of people. It's so easy to advertise businesses through this function now. More startups and small businesses should take advantage of the current technology!
Great blog post! Social media has definitely changed a lot & has become more focused on ads & promotions - keep it up with the blog posts! :)
Thank you Ashley and Ronaldo for the input, currently Wix is unable to reply to a specific comment, until then thank you for your support !!!
Had a nice time reading this. Particularly on the part of turning users to consumers. Great post! However, might point out that Google was found during late 1990s, so might rewrite that part to "early 90s" and there definitely were viruses during those days, but I assume you're writing about the Sars-Cov-2 virus, so please double check on the little things next time. Pretty good first post man!