With the social media realm off its pedestal (or its throne of novelty), we communicators and analysts can take a step back and watch how these platforms and tools mature and adapt to new players and technology.
It seems that the first movers are quickly adopting the mantra of media holding companies: If you can't beat them, buy them.
Google and Twitter recently made some impressive moves.
First, Google. We all know Google is an advertising platform that also occasionally operates a search engine. The company has been making money hand over fist since the company "stumbled" onto AdWords and the birth of SEO/SEM. Throw in buying YouTube and creating Google+, and this company is only gaining speed.
Now what? Back to basics. Google announced that it is acquiring mDialog, a video advertising tech agency. This CNET article explains that Google is bolstering its video advertising arsenal to keep ahead of the curve, and using mDialog to do that was its best step forward.
Second, Twitter. It's interesting that we joined this exciting new network in the spring of 2008, not exactly knowing what to do with it. Fortunately for us, we were in the majority. Fast forward to 2014, and it is unfathomable to think that Twitter was in the middle — if not the catalyst — for some of the most powerful events in our lifetimes. Twitter is a place where information can spread like wildfire, which can be empowering...and disastrous.
Twitter accepted the media categorization and has now anted up. Twitter announced that it is acquiring SnappyTV, a company founded in 2010 that allows users to edit TV and video content and upload it. The plan is to use SnappyTV to boost Twitter's Amplify program, which brands and advertisers use to promote through TV and video clips.
Third, what does this all mean?
Though the giants like Google and Facebook have created quite diverse platforms, it is clear that the big social companies are investing in their strengths. Google in advertising, Twitter in information, and we could go on; Facebook's releasing Slingshot to compete against Snapchat.
This social and digital media market is maturing. And it's fun to see it grow.
Dwayne W. Waite Jr. is partner and principal at JDW: The Charlotte Agency, a marketing and advertising shop in Charlotte, NC. He enjoys consumer behavior, economics, and football.
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