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Online Behavior Trends by Facebook

Episode 4: Online Behavior Trends by Facebook

In this new episode of The RevolutionFI Podcast, Tim analyzes a report of online behavior trends by Facebook.

“So, the question is this: How can 50+ folks like us, honest and hard-working, how do we manage our current responsibilities and still plan for retirement? 401ks alone won’t be enough and we don’t have 40 years to save, so how do we leverage our experience and wisdom to gain financial independence? That is the question, and this podcast will give you the answers. My name is Tim, and welcome to the Revolution. The RevolutionFI podcast.”

LINKS:

https://www.socialmediatoday.com/news/facebook-publishes-new-report-on-changing-interaction-behaviors-during-covi/587788/

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TRANSCRIPT:

Happy Thursday to ya. And on Thursday, I’m going to be looking at interesting blog posts or articles that I came across. I like calling this “hair of the blog.” It’s a little take on the Nazareth song, “Hair of the Dog.” I’m sure you got that.

Before we get into that, make sure that if you are looking for financial independence and looking to get a little bit of freedom in your life, as I talked about, on yesterday’s episode, head on over to RevolutionFI.com and make sure you grab yourself a copy of The Solopreneur Formula™ worksheet, which you can download for free, text me that last page, and I will text you back some thoughts.

All right, so let’s get into it. today’s blog post comes from socialmediatoday.com. And it is a summary of a Facebook report that was just published. The Facebook report was taking a look at how our online behaviors have changed since the pandemic has started. It gives you some great insights about ways to move forward, not only through this pandemic, but beyond. Now it is a 23 page report. So it is quite long. And that’s why I’m here curating information for you. So you don’t have to go and read that major 23 page report. But if you’re interested, you can find it written up by experts, Jonathan Freeman and David Birch. And they were looking at socialization, how consumers are using business, and how brands or companies can move forward.

The Facebook Report

So I’m gonna go over two quotes that came through from the Facebook report and give you a little bit of my interpretation of this.

All right, the first one said, “In a pandemic connection connection looks very different and involves reimagining life as we once knew it, conducting meetings from kitchen tables, checking in on grandparents via video and celebrating weddings virtually as the ways people connect and communicate rapidly evolve, a new normal is emerging for human interactions.”

Now, I could not agree more. Clearly, you know, Facebook is creating this report, and they have a robust video platform. So I think you take this entire report with a grain of salt. However, I think what’s been an incredibly positive development out of this situation is the acceleration of synchronous video communication.

So whether that is through Facebook, or FaceTime, Zoom, Skype, Google Meet, whatever, you know, technical tool you want to talk about, I think it’s normalized that situation a little bit. And as someone who has been doing client work for years, I mean, I’ve had a Zoom subscription for I don’t know, seven, eight years now. And it was second nature to me.

But I think it was always a challenge. Getting people, even Skype which was a lot more ubiquitous, people knew what Skype was, it was still hard getting people on Skype. Now I think we move to a place where at least I see this, when I have a potential client or someone I’m meeting with, I don’t have to ask them or send them Zoom instructions anymore. They know what to do. So I think the normalization of this type of, of virtual check-ins and meetings is great. And I think one of the things that isn’t talked about as much is the time that saves.

The Cost of IRL Meetings

So I have a friend who’s a lawyer, and she was explaining that sometimes she had to go to the courthouse in downtown Cleveland for a hearing. And this type of hearing would typically last five to 10 minutes. Now she had a hearing scheduled at 9am. That means she would have to you know get up at 7:30 or, you know, eight to get ready, she would have to get dressed, eat breakfast, you’d have to drive into town, she would have to find parking, she would have to walk, she would have to go through security, she would have to sign in, have to go through the hearing, come out of the hearing. reverse the process.

You get the idea. By the time she got back to the office, she had two to two and a half hours invested into a five or 10 minute hearing. And I think a lot of us are finding that.

So you know, no, it’s not nearly as great as meeting someone in real life. And I’d much rather have coffee in a coffee shop than I would over Zoom. But I think if you are conducting meetings, briefings, any type of business related stuff, especially in a way I think it’s sort of a blessing in disguise.

Alright, the second item from the Facebook report I want to talk about is this. “For some people, the outside world feels volatile and unpredictable but virtual worlds are offering a sanctuary globally. 82% of people play video games and watch video game content during the covid 19 pandemic in addition to filling people’s needs for escape bism these virtual worlds have become exciting arenas for new social interactions with live in game concerts attracting millions of viewers.”

Taking a Cue from the Video Game Industry

So this is fascinating. I was on a walk with my son, who is almost 18. And so he is beyond the Minecraft stage, but he still pays attention to it. And he said that in Minecraft, there are musicians who are having concerts, and they build these virtual stages and people’s avatars go and they watch these concerts. Again, not not nearly as exciting as going to the venue and seeing that band live. But in a time and place where we can’t do that. This is a great alternative. And you know, 82% of people have either played video games or watch video game content during the pandemic, and it’s giving people an escape.

I’m not a video game player. I’m not into video games, but I recognize the medium for what it is. And I think this is a great way for people to deal especially because so many of these video games now are multiplayer network video games. It’s not like they were when I had my Atari 2600 and was you know, I needed someone next to me. My son gets on and they play these games, him and his friends and they’re talking in real time they’re seeing each other and they’re playing. Again, not as great as the real world, in my opinion, but certainly a way to cope with what’s going on.

Alright, hope you found that report by Facebook and as interpreted by socialmediatoday.com helpful. And tomorrow I’ll be back with an interesting podcast episode that I want to talk about. I’ll see you then.

Transcription by Otter.ai, please forgive the bot for typos and mistakes.

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