Trends affecting social media: implications for practitioners and researchers

Abstract

Purpose – This paper aims to review relevant literature to identify trends affecting social media to help managers and researchers better understand social media; this paper also provides the implications of these trends for mangers and researchers. Social media is viewed as a credible source of information from consumers who have experienced travel products. The user-generated content these consumers post on social media Web sites influences those who read their posts or view aggregate ratings of multiple reviews about a product. It can move the reader to either purchase or not purchase the products. Social media is an important source of consumer information and can create new customers. Design/methodology/approach – The paper reviewed both academic and trade literature to provide an overview of social trends that are relevant to practitioners. Findings – The author identified four trends: millennials replacing baby boomers as the major business travel segment, increased use of mobile devices, dynamic pricing and marketing dollars shifting to social media. The implications of each of the trends are discussed. The findings provided valuable insights for practitioners and researchers. Originality/value – Social media is emerging as an important marketing tool for the travel industry. It is transforming the way companies allocate their marketing budget. The identification of trends that are affecting social media and will continue to affect social media in the future will provide immediate benefits to practitioners and researchers with a stream of research ideas.