Change in work

With their being so many users using Facebook and so many applications using Facebook, there is a massive amount of data. While Facebook does not sell user data, a variety of companies/ applications that use Facebook as an id or a way to sign in such as Uber do collect information. What this in turn does is that that it gives companies an advantage on their consumer in the sense that they can now target advertisements  to a certain group of people. Also with the way people are straying from television and are now using the internet, more advertisers are using social media rather than traditional methods of advertisement such as Television and Radio. This is due to the fact that it is much more cheaper and much more effective to advertise through Facebook rather than television as it only costs $.058 an ad to advertise on Facebook. (fitssmallbusiness.com).

https://www.youtube.com/watch?v=y4ei5jVTZwU&vl=en

Trend- The trend for what is occurring is that it is become more and more common that companies target users on Facebook. It will also become more common that companies advertise on Facebook rather than traditional methods of advertising as there is a broader reach and it is much more cheaper to advertise. Also Facebook is making massive amounts of revenue through ad revenues. In fact only 3 years ago they had a rise of “reported ad revenue was up 46%, reaching $3.32bn.” (theduardian.org)

Impact- While it does not impact users daily lives, the advertisement business is completely changing as they are switching from traditional methods of advertisement to advertisement based more on social media. This is due to the fact that more people are using social media for entertainment and news rather than using traditional methods such as television and print.  This could have a major impact not only in social media but in the television and print business as well as these forms of media depend on advertisement sales to bring up revenue, and with advertising making the change to focus on social media, advertisers may depend less on these forms of media.

Prediction- Industries will have more access to user information, and will use it for their benefit. Industries will most likely focus more on advertising on social media. This is due in part that industries are able to get more information on customers and are able to target their customers through social media rather than using traditional forms of media. And another major reason why social media may play a bigger impact is due to how cheap advertising is through  Facebook.