Expect Massive Changes from Various Social Media Platforms in 2023
Table of Contents
- Introduction
- Possible future services by social media platforms
- Twitter most likely to continue to loose grounds
- Meta will continue to encounter problems
- Ticktok could be banned in the US and other countries
- Influencers will continue to be big on social media
- conclusion
- Introduction
When 2022 began, no one could predict that it would end with Elon Musk becoming the owner of Twitter, that however became the reality as the year unfolded. 2022 was great for social media given the increased role it now plays in businesses and individual lives. It was in 2022 that Donald Trump launched in social media platform called Truth Social and the same year saw renewed calls to ban TikTok especially from the US. There is also no direct competition or alternative to twitter.
Given these realities, 2023 could see more social media disruptions. However, an undeniable fact is that no matter what happens, the adoption of social medial continues to grow across the world and many more people are going to use social media in 2023 than was the case in 2022.
- Possible future services offered by social media platforms
Social media users are becoming more informed and more demanding for authentic information. While there will continue to be a growth in the use and adoption of social media platforms, the demand for quality and authentic information continues to grow. This will put pressure on any platform that does not do a decent job to authenticate information shared through such platform. While facebook will continue to be the most used social media platform globally, many more social media platforms will continue to gain traction among users.
“
- Twitter is most likely to continue to lose ground
The world’s richest person – Elon Musk spent $44 billion to purchase Twitter late in 2022 and took the company private. This was then followed by drastic changes at the social media platform. However, he seems to be feeling a little “buyer’s regret” after this purchase of Twitter. The social media platform’s policies are not likely to benefit it. At least, not for the near term.
One analyst, Charles King, a technology analyst at Pund-IT said that Twitter’s downward spiral will not stop as long Elon Musk continues to engage with critics and stay in the public eye. It is also possible that Twitter may try to engage a known partner (or partners) in order to revamp its troubled areas, such as its advertising agency. Others predict the death of twitter by the end of 2023. This is attributed to the growing number of viable competitors, Musk’s mismanagement and employee litigation.
Whether this will actually materialise is anyone’s guess and only time will tell. There is however need to continue to watch developments at twitter.
- Problems at Meta to Continue into 2023
Twitter will not be the only social network that wants to get past its problems in 2022. Many at Facebook parent Meta want to get past the problems of last year. However, it is unclear how exactly this will be achieved.
Enderle observed that “the Metaverse social networking experiment will continue failing until technology meets expectations,” which is likely to be towards the end the decade.
King said that reports that Meta might split in two companies, with one focused on Facebook and another on the metaverse, are probable to become true. While this should please large institutional investors and shareholders, it will not help Mark Z’s vision for the commercial metaverse get traction.
- TikTok to Be Banned in the US and other Countries.
Many are now of the view that it is more likely a matter of when – not if – the Chinese-owned TikTok will see a widespread ban in the United States. Many US states have already banned video-sharing apps on their government devices. And just last week the House of Representatives also ban it from its employees’ phones. This will have massive impact on the company. However its performance will in the short run continue to grow with increased adoption and use in other parts of the world. Short forms of video remain a great way to communicate as we now see other platforms like YouTube among others adopting it. Generation -Y and other generations continue to adopt TikTok globally, this will reduce the impact of a possible US ban on the popularity of the platform.
- Influences will continue to grow
Was 2022 the last big year for influencers? Many thought so according to an online survey. However, the role of influencers continue to grow and their impact on business and society continues to grow. Many more people today would want to be influencers than it was before. However, Influencer Marketing was challenging in 2022 due to the growing number of influencers and a reduction in their impact. Some consumers have reduced interest in certain products because of certain influencers.
In addition, almost all social media platforms are now at saturation. They will need to be supported in order to preserve shareholder value.
While social media influencers will continue to play a vital role, it will require a tremendous amount of money and effort to achieve marginal results. The bluebirds are still there, and people who become influential more naturally than they plan will be.
- Conclusion
There is great consensus among analyst that 2023 will see lots of changes with social media platforms. However, many do not agree on the possible extent of changes. Users need to continue to demand for authenticity. Social media companies need to be a step ahead to innovate and offer users what they want. One other fact that remain is that 2023 will see more growth in social media platforms role in all areas of society and business.