Jason Hope`s Reflection on State of Social Media

Social media has evolved over the years from a novel way of friends keeping in touch into a source of information for a large portion of the population. Users have a choice of Facebook, Instagram and X (formerly Twitter) just to name a few. Will the quickly evolving social media landscape keep growing, or will the followers of these sites eventually move on to something different? Jason Hope offers his views.

Businesses will put more effort in their social media presence than on websites. They know their customers are looking for that high number of likes and positive comments on their social pages rather than going to a particular website.

As Jason Hope recalls, people view social media more as a source of entertainment. Recent research indicates the average user spends 2 hours and 45 minutes daily on social media. It doesn’t appear this trend will end any time in the near future.

The growth of mobile devices plays a key role in social media usage. Research says 91% of internet users choose their mobile phone as a means of accessing social media through the convenience of a mobile app; Jason Hope advises businesses wishing to gain exposure should focus more on targeted ads in these mobile apps.

Regarding Facebook, Jason Hope doesn’t see the site dying, but it is currently losing market share. Gen Z doesn’t hold loyalty toward the company after recent data leaks. Facebook will need to regain trust with their followers and offer exciting new features to reverse the current trend.

Social media now offers its own world in which members continue to join and interact with others. For the activist investor, this does not appear to be going away. However, Jason Hope instills, it is far too early to determine which sites will continue in this new world or be replaced.