Social Media: A Modern Cash Cow?

During my college days, me and my friends used to spend a lot of time on a specific social media, but due to expensive cellular/ WiFi data, we could never explore other platforms. 

But, from mid-2015 onwards, India witnessed a surge in online content consumption that also increased the screen time among users post-Jio’s inception. Before that, we were unaware of social media monikers like ‘ad sense,’ ‘creators,’ ‘influencers’, etc.

After college, I realised that these creators (or influencers) are making a lot of money; some of them are earning more than blue- and white-collar workers.

Similarly, Mark Zuckerberg introduced Facebook in 2004 to help and allow his Harvard peers to exchange contact information and photos for convenience. But later, he transformed it into a public domain on which anyone can share anything, be it texts, images, or videos, transforming Facebook into a multi-billion dollar company. 

YouTube started in 2005 as a video-sharing platform, and Instagram started in 2010 as a photo-sharing platform. But now these digital platforms are not only limited to entertainment but also infotainment (information + entertainment). Moreover, the YouTube culture has evolved over the years, especially on the education front. 

Very prominent faculties are now on YouTube, and some of them are providing almost free education. That said, educators with cult followings, such as Khan Academy and TED-Ed are excellent at representing themselves on these platforms. 

Nothing is wasted on social media.

That said, if you have uploaded anything and someone has made fun of it, you could become a meme. Similarly, if you have hidden talents, celebrities or producers or talent scouts might reach out to you to fulfil your ambitions.

In fact, content creators with the “Digital Star” status boast a power to influence other users through their posts. Nowadays, doctors, lawyers, scientists, CAs, real estate agents, etc., have also started creating online content related to their professions, keeping the majority of the users informed. 

Yes, social media has a long list of pros but it also has several cons. That said, the average daily usage of social media (globally) is at least two hours (as per reliable sources). Now, those hours can either be productive or counter-productive, depending upon the type of user.

As for India, our country has always been among the top five countries in terms of social media usage. And, as you might be aware, several political parties are also dependent on digital marketing. 

Besides that, the growth of influencer marketing is also inter-related to digital marketing, which also surges the number of social media- and brand-promotion agencies. Thanks to the power of social media and digitalisation, the ‘digital-marketing’ industry has opened doors for graphic designers, photographers, scriptwriters, and editors, among others. 

So, to conclude from the above instances and events, the digital presence is something that every new user, be it an individual or an organisation, should have. However, if social-media is used wisely and efficiently, then it can become one of your potential cash cows.