Net Geners + Social Media

Social media are shaping the active minds of consumers and consumer demands are actively shaping social media. Indirectly, this symbiotic process is impacting what these consumers demand from the business sector.

According to Don Tapscott, “Net Geners (Generation Y) are the smartest generation ever," contrary to the claims that video games, Facebook and constant text-messaging have robbed today’s young of the ability to think.

Net Geners want entertainment at play in their work and education and they love to collaborate. They expect everything to happen fast. And they expect constant innovation.

So why are businesses refusing educate themselves on or at least acknowledge social media as a business force? The issue here is the metaphorical fissure that cuts deep between the lines of old and new business practices.

These businesses must learn to redefine what they desire from social media, and distinguish opposition from competition. Businesses must not look for profits as the sole gain form social media and look towards customer retention and marketability.

Social media bring about many unconventional businesses practices that companies need to understand. Instead of asking what social media can do to create profits for their company, they must ask what social media can do for their customers.

In order to remain profitable they must satisfy the ever-changing market demands and “avoid being swept away by the sort of generational tsunami that helped Barack Obama beat John McCain” (The Economist).

Social media will live longer than your Tamagotchi

Social media are here to stay. No debate. Furthermore, social media in the business world can not be treated as passing fads (See: Furbies or Tamagotchi’s). Social media aren’t cute and fuzzy pets that can simply be toyed around with. Collectively, they are a gigantic elephant in the corner of the board room -- an elephant that is changing the nature of markets and ways of doing business.

Many executives refuse to acknowledge this proverbial presence because they do not understand nor do they see the profitability of social media; however, for future generations, social media will continue to shape and re-shape markets, and businesses failing to understand in invest in social media risk extinction.

Did You Know 2.0, reminds us all that what took radio thirty-eight years to reach 50-million consumers took television thirteen years and the internet only four. We live in exponential times where technologies are outpacing businesses that don’t have their metaphorical fingers on the pulse of their respective markets.

Mistakenly, companies once banned programs like Facebook and AIM because they were viewed as inefficient, but as we can see today, the efficiencies of social media are bringing communities together through communication and collaboration — never before has media content been created and consumed so rapidly.

This slow-paced, traditional thinking will be the downfall of businesses as this hybrid community, or metaverse, passes them by. Workers and businesses alike must learn to think and work differently to change with technology instead of after it.

Wiki Wild Wild Web

Collaboration is the essence of sustainability and growth through increasingly efficient means of combining both new and familiar relationships. At the center of this collaboration is the concept of community.

Both virtual and real-life communities thrive as an entity because a large input of resources from smaller units working together. The merger of human and technological collaboration has paved the road to a more efficient workplace as well as a new hybrid community with endless possibilities.

Because today’s growing markets love to collaborate, businesses need to adapt to their evolving customer base. The use of wiki’s is important in catering to this demand.

Progressive IT groups now create tools for users to solve IT problems of their own. They provide portal software and wikis to build web-based applications and offer advice in blog posts, how-to forums and podcasts.

Social media not only expedite the help process for customers, they also allow the IT staff to devote time to larger projects instead of the repeated, mundane tasks. Wiki-technology is built upon and advances because of collaboration.

Companies can tap into their customers’ talents by providing wiki-based FAQ’s that build off similar responses and best solutions. Customers feel involved and thus innovative in their use of wiki’s.