Who participates in globalization? Governments, which form alliances, open borders and support trade across countries? Multinational organizations, which open new subsidiaries abroad and employ people of different nationalities? Universities, which support international student exchange programs? Naturally, all of the above mentioned are active participants in the globalization process. Yet, the latest McKinsey publication highlights that also small businesses, freelancers and, basically, each individual can be actively constructing the global reality nowadays. How? By using digital media.
Liking your distant friends’ life events on Facebook, following and commenting on internationally known speakers on Twitter, or connecting to an international professional in your field of interest on LinkedIn, all of these examples may seem so mundane…yet, these are examples of global connections, which today are just literally a click away.
New research from the McKinsey Global Institute (MGI) has looked into the extent and economic impact of global digital connections. The data shows that around 900 million people have at least one international connection on social-media platforms, more than 12 percent of Facebook friendships are cross-border friendships, and half of the active Facebook users have at least one cross-border friend, which is a threefold increase from 2014. Moreover, MGI found that users from emerging economies have more cross-border friendships than users from developed economies, which creates good prospects for faster development for the former.
Although the majority of social networks can be seen as places for personal ties and friendships, such as keeping in touch with university buddies and following up on the life of your relatives abroad, the MGI report argues that there are important economic implications to such global platforms as well. It is quite clear that for businesses social platforms serve as bottomless pools of potential clients, who can get both, direct marketing materials, as well as positive referrals and indirect support from already existing clients. In essence, every picture, tag or post from a restaurant, entertainment location or travel destination would serve as a promotion for the respective business. The amount of LIKEs is a social proof that influences people’s decisions, including purchase decisions. Given this notion, it comes as no surprise that the number of small and midsize enterprises (SMEs) with pages in social platforms grows at high rates.
As for non-entrepreneurial individuals, they obviously benefit from social-media platforms as well. Borderless mobility of information and ideas are of great value, as it creates many possibilities for development and education. Moreover, nowadays, a social media profile serves a similar purpose as a resume, yet, has even broader scale. A social media profile allows you to showcase talents, knowledge and public recognition to potential employers.
As such, signing in to any social-media platform today is a way of tapping into the global market, in which everyone can (at least potentially) be big enough to get noticed and reach out to people, knowledge or products everywhere, from places around the corner to places across the oceans.
Good post.
It is true that small businesses and entrepreneurs can construct the global reality by using digital media. Social media create many possibilities for everyone’s development and education.
Social media sites are kind of a more like global village where different types of communities linking together and learning new things each and everyday. Facebook is now turning towards news / media type platform. As I saw many new pages with huge audience showing daily trends, news and updates on every thing happening across the globe.
While reading this article I was wondering that it was not very long ago when we use to have a life 😛
I am saying so because today when I see almost everyone around me, they are attached to a screen in front of their face, its either – a Mobile, Laptop, iPad, TV, Playstation, or any other gadget.
Although, Social Media or Digital Media has made our life interesting, as we get an opportunity to interact, connect and engage with people from different countries, which gives us opportunity to know various cultures. But, because of such rapid growth of Digital Media somewhere it would be right to say that people are getting disconnect with near near and dear ones. As everyone is busy scrolling their screens.
This globalization is really good for the growth of a country, but we as an individuals should soon get into the habit of usign the technology as it should be. Importantly, we should allow the technology to take control of our lifes. This way we will be making maximum use of the technology for the good of everyone.
Virtual world, real effects…
Thanks.
Now a days Facebook is not a platform for finding friend and making anonymous friends. County politics also starts on social media. even people starting social media campaign for politics and start separate fund for it. This is new way of social media marketing. Facebook also provides sell tag on page, Facebook give functionality to sell product directly from their Facebook fan page. This is one of the best business marketing strategy. People stars generating community based pages and getting engaged with all news of communities. No need to find anything on search engine they directly get it on their timeline. Best example of use of Facebook is that celebrities social account. They simply post their new release album, song and movie on their timeline. Hug fan follow, follow them and help celebrities to reach their goal and more. Digitization is now on track. everything is now at mobile or computers. Good work and keep going.
Regards,
Gloria Walton
It’s weird to think that not long ago, we used to communicate with our friends only by email or by phone. In my case, I would create discussion groups in Yahoo or Hotmail and send messages to friends. All those groups are dead now.
in my country, people used facebook for trading and some market things
I can’t agree more on how digital media has changed our life.
Thanks for this amazing article.
Not that long ago if you did something stupid you could move and start over. Now, everything we do has inescapable consequences, forever, globally.
When I were a lad none of this existed, if you wanted to make a phone call you had to walk half a mile to the phone box and most computers were pathetically slow.
Social Media is gaining its popularity day by day now a days. its becoming one of the major aspect in promoting brand and product online
social media is the place to make money. if we are good at studying social media, our lives will be successful.
Virtual world, real effects…
Thanks.
thanks for sharing
1000% Right Great article i have ever read
This globalization is really good for the growth of a country, but we as an individuals should soon get into the habit of usign the technology as it should be. Importantly, we should allow the technology to take control of our lifes.
The globalization that social media affords businesses is and essential part of networking and marketing for so many online based companies. I think it is awesome because it breaks down barriers of entry for people who can live anywhere and follow their dreams of building a business.
We are finding our clients moving their content towards a global audience, which is proving fruitful for their growth plans. By changing their marketing initiatives and focus, their content is becoming better suited for long lasting stability in search and trust rank.
Great article. It was a great read. Thank you.
Good post.
It is true that small businesses and entrepreneurs can construct the global reality by using digital media.
Excelente muito bom
The shift from hiring to development…the old buy, build or borrow question…and if you cant buy, you build…The increasing flexible workforce offers for some roles another solution, the borrow option.