Last Thursday, we attended a panel discussion hosted by the Financial Communications Society (FCS) entitled Social Networking 101. According to the organizers, the event was originally intended for an audience of 50 but the level of interest was so high they were forced to find a larger room; in the end, roughly 100 people attended the discussion.

Like the audience, the panel was comprised of speakers from a wide range of backgrounds, including the news media (the NY Post and Conde Nast), public relations (Edelman) and an international corporation (GE). Despite their diverse professional experiences, the participants all agreed that social media has great value as a tool for brand management, one of the key findings from our own social media research report published last year.

During the Q&A portion of the event, the panelists were asked to give their predictions regarding the future of social media. They all seemed to think that someday online communities like Facebook and Twitter will no longer exist as separate entities online, that data from these networks would eventually be incorporated into a user’s entire online experience. What would this mean? Social networks would play an increasingly large role in determining how a person viewed the Internet. For instance, websites and online retailers could provide custom content and shopping recommendations based on a user’s data and the data of his or her friends, and their friends too. Should this come to pass, these communities would have tremendous influence on the decisions consumers made online, affecting everything from the articles they read to the brokerage firm they choose to manage their portfolio.

What do you think is in store for the future of social media? And what is your company doing to harness this communication tool? Share your thoughts by posting a comment below.