Welcome back!
This week’s blog I will be discussing about Social Media Consumers (and their communities), together with Digital Business Model.
Social Media had dominated everyone’s daily lifestyle, don’t you think so? Have you ever wondered what about social media that attracts everyone’s attention?
Many times, I closed an app to end up opening the same app again!
Does any of you relate to this? Haha.
Let me further explain how this happens.
There is a motive behind every consumer’s purpose in using social media. It can be:
- Rational – For source of entertainment or information.
- Emotional – To connect with people, to express their own thoughts.
Many had also justified their use of social media were mainly to connect with friends and families. But then again, why social media? What about phone calls? Text messages or even letters?
As technology advances, certain changes have to be made and that being said, the shift of six significant iConsumer trend (device, communications, content, social, video and retail) had slowly led to the increase consumers in social media!
Many contents have been shifted online that we may not even realise when was the last time we actually texted someone using SMS, reading a physical newspaper and even watching a tv series in front of a television!
Digital Business Model
With the mention of the six significant iConsumer trend, this is where I’ll talk about Digital Business Model.
As more people shifts their attention towards social media, it is unavoidable for businesses to hope to bring surplus to themselves through the same platform. This is where Digital Business Model appears, with businesses providing social media services to people that are willing to pay.
Here are some of the revenue models that many of us are aware of and needless to say we are part of the consumers as well.
- Virtual Goods Model – Platforms like EBay, Amazon and such as Carousell for Singaporean users.
2. Subscription Model – Netflix and for Singaporean’s will be VIU (for latest k-drama hits!!)
3. Freemium Model – Most commonly known will be Spotify. But little did we know, Freemium model is rather commonly used! Any other social medias have you realised?
Many would have heard the phrase of “There ain’t no such thing as free lunch.”, to what extent do you agree to this phrase in context to spending time and money on social media? What is not the free lunch?
Leave a comment below and let’s discuss! 🙂
Shane's Blog 
4 replies on “Social Media Consumers & Digital Business Model”
Hi Shane, I definitely can relate to closing an app and realizing I’m opening it again two minutes later! I think what causes this is the sheer depth of social media There’s just so much you can immerse yourself with nowadays, from random cat videos to politics. That being said though, we need to learn not to be glued to our screens as well. Sometimes, it is good to put our phones down and disconnect. What do you think?
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Hi Marcus.
Yes, I do agree it is good to sometimes leave our phone aside and enjoy what’s around us. In my opinion, as we get attached to our social media, getting out to meet friends seems to being a hassle and I’m kinda sad on that. Thats because I have realised that when I take time out to meet my friends, I end up feeling very drained and would love to just snuggle up on my bed and scroll through social media. Which I agree to your comment, we should spend less time on our phone!
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Hi Shane!
This is such a great read and really made me think thoroughly! I feel like the what is not the “free lunch” will be our addiction to social media.
It has caused us to be so attached to our phones, we seek validation from there and when we do not get the validation we want we get upset and this is not healthy at all.
If used correctly, social media can help us but if used incorrectly it can be a poison to us all.
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Hi Hayley, I certainly agree with your last sentence! Do feel that the younger generations are the ones who will tend to fall towards using social media for the wrong purposes! Especially now with all the canceled culture going on, younger generations tend to jump onto the bandwagon very easily. Hopefully, the correct usage of social media can be more widespread towards the younger generations!
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