If you don’t think social media is going to dominate the marketing landscape in 2017, check out this map from Overdrive Interactive. It breaks down companies in social media by categories. For example, in the “Management & Tracking” category, there are more than 20 companies listed, including some well-known names (Hootsuite and Klout) and some not so familiar names (Sysomos and Cision).
What to make of this “map?” Two considerations.
First, the social media space is becoming increasingly crowded, with more companies joining the “fray” every day. In one respects, this large a group gives marketers a wide variety of products and services from which to choose. On the other hand, the list can be overwhelming. Just keeping track of current entries, let along new ones, is proving daunting. At some point, we could all be reaching the breaking point.
But another potential problem is that the market may not be able to support and sustain this many players. While most have been able to get up and running with venture capital backing and can conceivably keep going on steady revenue streams, any downturn in the economy (which is bound to happen at some point in the near future), will likely result in a shakeout.
Innovation benefits everybody, including marketers. And having more options, not fewer, is a good thing. Whether or not all of us are willing to pay for these number of options—the jury’s probably still out on that one. For now, just enjoy the fruit of this innovation bounty. There’s a good chance this same time next year it will have a different look and feel to it.