Social Media Bubble

There is growing speculation that a backlash against social networking is brewing. At CustomerThink.com there was a recent article, When the social media bubble burst which points out that “We rarely see people as enthused as they are over social media. Among those recent rare times are: when the high-tech balloon popped; at the height of the housing bubble; just before the market crashed; and when Sarah Palin was nominated for VP. Hey, exuberance can be headiest just before the fall.”

The author, Axel Schultze, CEO of the social business application development firm Xeesm says YES. Schultze believes that the social media bubble is about to burst. Schultze, founder of the Social Media Academy, said in the article that people are starting usefulness of social media, “People are recognizing already that the endless hours of watching the incoming streams from Twitter and Facebook or all the status updates on LinkedIn are hours wasted. All the paid tweets and people or agencies, who have been hired to tweet are not going to contribute to the bottom line. And the fan pages people build to get “fans, followers, connections” are just hopes that it will do something for the business – but it won’t.”

Schultze concludes that the social networking bubble will burst because, “Socializing is work, it takes time and focus, discipline and a clear understanding what to do and what not to do. And as 80% of humans continue to look for getting the job done automatically and get rich instantly, they will leave the social web because they just learned again and again – there is no free lunch.”

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In the article, Schultze reiterates the fundamental change factor of the Internet, “from anywhere at anytime”, when he says that the biggest benefit of social media is to do “more business with more people in a grander geography and in less time than ever before.” Schultze continues that the benefits of social media  comes at a price, “…the price you pay is to be more open, more social, more connected, more interactive, more helpful and more conversational than ever before.” Making organization more open, more social, more connected, interactive and helpful is hard work which means that many organizations will fail and the social networking bubble will burst.

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