Thought Leadership - Is Digital a Fad?

Define fad. Something short-lived – people get all excited – then – FLOP! Think Telletubbies – whose meteoric climb to fame lasted what, three weeks, four days and twenty seven minutes; before the plug was pulled on future development. OK, maybe a little longer, and yes, they did survive, but they didn’t generate, or command, the audience expected of them. FLOP, fad alert!

So, to re-ask the question, is digital a fad?

Perhaps.

Now, why do I say this? Actually, a multitude of reasons – but lets break it down to two core observable trends: (1) monetisation of social media; and (2) artisanisation of millennials. Unrelated for sure, but both trends could contribute to the long-term decline in digital, and the re-emergence of traditional publication and public relations options.

Digital and social media is becoming increasingly monetised. In the early days (which were not that long ago to be frank), advertisers looked at such platforms with skepticism and were reluctant to jump on board. Platforms reacted – free advertising, cheap advertising, cross-promotional tie-ups, free content, etc – in order to build the relationship and develop credibility. Great, you say! Yes and no! On the positive, it does build the relationship, and clients can see how the impact of digital and social has had on their brands over time. But it has also put them into a comfort position – one of expecting things for free or relatively cheaply, and one of not really paying full value for the services received. As prices rise, clients may drop off, as they don’t perceive comparable value to the times when it was “cheap”. 

As platforms are increasingly monetising their services, clients may feel short-changed. Bloggers started off as “social commentators” with no monetary expectations; but are now being considered as viable advertising and public relations platforms. Even the Singapore government recognizes this, wanting to charge tax on gifts in kind received by bloggers. There goes our social commentary – monetisation (or commodification) has already occurred.

Ultimately, clients must now decide how to apportion their advertising budget? Is an increasing share to digital and social platforms a viable expenditure pattern, or is it too much of a risk? This poses a risk for digital and social platforms – yes, they will always be there, but will they remain as popular?

Lets go to a completely different extreme. The artisanal movement, infecting millions of our younger generations, seeking to go back to the wholesome, good ole days, also poses a risk. The popularity of libraries is coming back, as people seek the physical book. Forget Kindle, they want to feel it. Such a trend emergence could affect the PR industry too – people going back to the older standard – print publications, broadcast media; rather than convenient “on-demand” content – is a possibility. 

OK, the artisianal movement hasn’t quite taken the world by storm yet, but the whispers are there. The desire to go back to “old faithful” is there, and if this catches on, clearly there will be an impact on digital and social platforms. The trend is already emerging to “disconnect”, take time out. Our lives are becoming increasingly digitally interactive; with that comes the stress of being contactable 24/7/365/beyond the grave – which is only now, really starting to scare people.

Certain European nations have enacted laws – no work emails after 6pm, in order to restore that all-important work-life balance. Greater context – it is the start of a revolt against the technology that ties us to our work, and our social communications – all to get us back to a slightly slower pace of life, where quality of life is measured in time, and not bytes.

So, is digital (and social) a fad? 

No idea! 

But the trends are there that suggest there could be a movement away from it into the future. One thing is certain though – change is the only constant – so it may not be all that long before digital and social are surpassed with another mechanism – and then, we shall ask the question again!

I’m very curious as to your thoughts on whether it is a fad or not. Do let me know your opinion, and lets get a constructive debate going. Remember, no right or wrong answers yet – only the future will tell.

Signing off, one slightly eccentric white dude who may be a tad cynical about the staying power of digital!