luxury journal

marketing & brand news

The marketing landscape is evolving faster than ever, thanks to Tech Companies and their platforms. Luxury Journal looks ahead and brings you the news that will keep you at the forefront of the marketing game.

2022 Marketing :

The like & Follower Economy

Technology companies have changed marketing forever. They have disrupted decade old media monopolies, and democratized media production and distribution.

 

When Steve Jobs first introduced the iphone back in 2007, the media and marketing underestimated the impact it would have on the world and their businesses. The iphone was basically a super computer in your pocket, and gave people around the world all of the information that ever existed, in the palms of their hands.

 

The iphone also gave rise to web 2.0 with the likes of Instagram, Air BnB and Uber. With the social media platforms, they have given individuals and brands the ability to reach billions of people for free, any time and any where. Have we ever taken a step back to analyse and see if there is any real impact comming from social media?

 

The Like and Follower economy has grown to be a status driven game. Both individuals and brand/businesses play a game to gain views, likes and follows. Each platform has around a billion active users, each one viewing hundreds or even thousands variables with each loggin. Is it possible for users to actually remeber all of the content and marketing that they view on platforms everyday? 

 

It is impossible for one to remember what they viewed today and yesterday. All of the likes and follows that we get, does it actually have any impact? If social media created real ground breaking impact, the Fortune 500 list would change everyday. The only companies that got into the list are infact the plaftorm owners themselves.

Have the Technology compaines created a rat race that both individuals and businesses play where the platforms are the real winners?

 

Businesses owners and brands need to take a step back, and determine if the like and follower economy is actually generating real economic value.