Third world countries indicate the countries which are in the developing stage, these countries are developing in every kind of aspects including social media, infrastructure, education, economy, etc. They take particular time to reach the stage of well-developed countries till then these countries’ regulators are working hard to make their country to be developed in the coming future. The country will be termed as well developed only when there is adequate employment, safety, high literacy level, equality, well-maintained hospitals, proper sanitation facilities, women empowerment, fully developed infrastructure, proper means of transportation, etc.
Developing countries are always in search of technologies since it helps them to grow the market developed nations can look up to. Technology advancement is a major element while measuring the growth of any economy. It is said the better the technology the country uses, the better is the growth rate.
And it is not an exception when it comes to dealing with a large market that prevails online. These days even in a pandemic situation the business and growth don’t cease to stop. They always strive to work better and more efficiently. This is when social media plays an important role. It is a famous saying if your business is not online, it’s not a business. It is said so because the online digital market is an ever-growing market for every business company. They can always start a business with little or no investment. Social media also generates a large part of revenue in the economy.
Let us now concentrate on the exact meaning of social media and how it is impacting developing countries?
Social media is a newly emerging concept in the market. It’s not long ago when companies have faced a drastic change in the way they communicate with their clients. One of these changes has resulted in the emergence of the need for social media. Just as a name indicates social media is one of the most inexpensive and effective tools for the firm to know the needs of their target customers.
It is also the most commonly used tool when it comes to identifying what are the preferences of the target audience of the company for its product. Social media is a way that can be used as a two-way mode of communication. Where the communication not only between companies and their target audience but also between small-scale proprietors and customers takes place. It also helps to understand what are the needs and preferences of the target audience and their buying behavior.
Many small-scale retail shops are taking initiative to promote their business online at local as well as at the state level. They are using social media applications
like Whatsapp, Instagram, YouTube, Facebook, Snapchat, Twitter to sell their products online.
Impact Of Social Media
According to the survey during 2015 and 2016, the usage of internet access has increased tremendously; many youngsters and middle age have become addicted to the internet. Thus the audiences are more likely to pay attention to the advertisement or the brand that is popular on social media platforms. This can include Instagram, Google, or any other social media platform.
Social media also generated a need for content. The content that is available online and social media has taken an important place among various marketing strategies. Content has become an integral part of the business to advertise on social media. It also has impacted the economy and politics of the nation. Content is shared in the form of articles, blogs, or any social media quotations. The impact on the audience a lot. The reach of good content and the proper use of Google adverts help any information go viral just in seconds. This also acts as a watchdog on the officials working for the developing nation to be within certain boundaries and not misuse their power.
Serve as a mode of communication
Social media has impacted the way companies communicate with their clients. Customers find social media as a platform where they can communicate with people across the globe and share lots of information which leads to gaining knowledge. Take the example of Hello Talk, it is an application where a large number of users across the world help each other to learn different languages and gain knowledge about the culture of their native countries. Another example of a social media application is YouTube. It is an application where there are a lot of entertainment videos available including food, traveling, comedy, workout, and many more. One can use YouTube to make one of the earning sources by broadcasting their talents among a large number of users and so on.
The rise in demand for technology
In the recent survey, it is also mentioned that due to rise in internet access has given an indirect rise in the demand for smartphones. Smartphones are the kind of phones where internet access is easily accessible among a large number of social media applications. The percentage has risen from 42% to 78% approx it is estimated that it will further rise to 90%. Even with the help of social media, developing nations learn what is a trend going on in developed nations and adopt them to accelerate the economy of the nation.
Emerging small scale industries
Social media is also a great tool to be used by small businesses to reach out to their audiences. The local business proprietors and large-scale proprietors are using Instagram, YouTube, and Facebook to advertise and sell their products in the market. The customers are delighted to stay at home and get their products on one click they don’t have to go out for purchasing. The online business through social media has increased in this pandemic situation where the customers are getting all their daily needs products at their doorstep whether it is a grocery, medicine, foods, and many more.
The craze of Social Media:
Apart from internet access and smartphone ownership, it is seen that the craze of using social media applications has also increased. It is said in a survey of 2015 that every 4 out of 10 people were using social media but in 2017 the percentage has risen to 58% approximately. Still, there are certain parts of different countries where the usage of the internet is not risen because of inadequate access or poor quality accessibility and other reasons can be the people among these are not habitual of using the internet or social media to communicate with each other purchasing from online market is still a long way to accomplish by them.
Social media have various impacts on developing countries or third world countries in various ways which are mentioned in the above paragraph.
From the above paragraphs, we can conclude that social media have a tremendous impact on Third world countries or developing countries in certain aspects like increase in usage of the internet, increase in the ownership of smartphones, increase in the knowledge level of the people, increase in the sale of small scale and large scale online business. But also hurt the local retailers who are still unable to access the social media application.
The craze of social media has impacted both positively and negatively on the market. The reason for the negative impact any of the sellers are not used to social media and many buyers are afraid of frauds done by the fraudsters who are taking advantage of the current pandemic situation.
Social media if used correctly can generate millions of dollars in the economy that further aid the growth of developing nations. As it stimulates the curiosity of a large number of youth for the product that has been widely advertised on social media platforms. In the future also social media will have a great impact on the intellectual and buying behavior of the customers.