Shared data through Social Media

Companies and websites usually refraind from displaying too much of their information on their main platforms. However, they do tend to overshare through social media. The reasons are quite simple. When displaying information on Social Media, it is a lot more likely that it will reach more people. Let’t try to understand why this happens. Let’s say that Amazon wants to share some information to their users. Normally their users log-on the website maybe once a week at most. Therefore it is imperative for Amazon to reach the users as fast as possible. Thankfully, most people nowadays, log-into their social media accounts pretty much every day, and spend most of their day there as well. This means that Amazon would have the ability to reach a lot more people this way.

This is one of the primary reasons why there are so many problems connected to Social Media websites. The sheer amount of information and data is always very tempting for governments and sometimes very shady people. Although the terms & conditions state that no data will be sold to any third-party companies, Facebook has been involved in this controversy numerous times.

Use of Social Media for financial companies

In most cases, financial companies cater an older audience. Meaning that the customers are usually in their 30s or above. Although a lot of people in their 30s are social media users, there are still some who avoid it. Therefore these financial companies sometimes refrain from sharing info on their social media accounts.

However, according to the winds have been shifting and some of the largest companies in this industry are starting to become a lot more active on their Social Media pages. This is usually done in order to add some type of reliability and trustworthyness to the company. The reason is simple. If the customers can interact with each other, there is little chance that the company may lie to them about something. Or if the company is terrible, a community on Social Media will warn any potential customers.

Another reason can be to adopt a younger audience. The current generation of young adults often refrain from participating in the financial markets, therefore the volume has been decreasing bit by bit. The reasons are quite simple. The US youth are busy paying off their loans, The EU youth don’t even bother because of heavy regulation and other countries simply don’t have the funds to invest. However, directing their attention to social media pages, the financial companies are able to better connect with this untapped market.

Therefore, the next time you see a post on social media, that was made by a company, try to understand the motives of that post. Is it for value, or is it to adopt a new market?

Giorgi Mikhelidze

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