Is the relationship between the life cycle of products and services inversely related to the use of social media? How does social media influence the perceptions and even usage of products and services, especially when it comes to the trendy, fashionable and high tech ones?
We’ve Heard it All!
Throughout the past 2 years or so, we have heard almost everything related to social media and how it plays a role on almost every stage of its users’ lives! Whether it be how social media could kill us, its effect on our mental health or how its use can positively or negatively effect an enterprise, social media has been taking the lead amongst all online related news!
But, from a marketing point of view, and after seeing how social media is able to highly spread or deeply bury a marketing/promotional campaign, one must take a moment to think: How does social media affect the life cycle of all those products and services it touches?
The Past… The Present…
Scientifically, it is well known that “an inverse or negative relationship is a mathematical relationship in which one variable, say y, decreases as another, say x, increases”. When applying this to my topic of discussion, if y is social media use and x is product/service life cycle would mean the more the social media use increases the shorter the life cycle!
But the question is: Why?
It is very simple: sometimes what is more is less! (My favorite example here is salt: a great addition to food yet when heavily used it could cause serious health problems!)
Long before social media ever emerged, even more so, way back when the Internet was just a distant concept, I truly believe that products and services used to live longer.
Allow me to further explain by sharing with you my reasoning for such a rationalization:
- MFA – (More Focused Attention): Obviously, the more unfocused the advertising clutter is, the less the attention for the ad content. A natural deduction, I know. But think about it this way: when televisions, billboards and radios where the only sources of ads and promotions, there was more room for loyalty and less space for comparison! Social media tops all traditional media channels thus creating more focused room for specific comparisons and in turn altered loyalties!
- MGA – (More Given Awareness): Awareness is good for us but bad for the products and services! The more aware we are of what we purchase and our perceptions of its value vs. cost, the more “conscious” we are of the decisions we make regarding those products and services. Social media provides the biggest and widest gate for growing and developing awareness!
- MTA – (More Trends Available): As we all know, a trend or a fad is “an interest followed with exaggerated zeal”, and is usually short lived. The more products and services are treated as fads or trends rather than useful, valuable assets, their life span decreases and before you know it, they are fighting for their last breaths of air! Social media plays the role of the judge and the jury here by being the “trend creator” and “trend killer” as well!
Ashton Kutcher Showed it Best!
Not very long ago, Thoughtick published an article entitled: Reclaiming the Longest Tweet in History at 250 characters! Somehow, the forces of almighty Twitter conspired and Ashton Kutcher retweeted this post. Within only a few hours, we got 20,000 visitors to our blog. It was like magic! Sadly though, and after almost 5 hours later, the action started seizing and then “poof” it all ended!
So, do you agree with me that social media is actually shortening the life cycle of products and services? Do you think social media will eventually be responsible for the deaths of certain brands in the near future?
Don’t hesitate to leave us a comment below :)