Over the last few years, 3DR has seen a decrease in their overall social media following. This could be due to a number of different activities they have been involved with in terms of market events. For instance, when 3DR rolled-out their first Smart Drone, they didn’t get good feedback from consumers and made the decision to pivot in the direction of software development instead of just focusing on hardware production. Clearly, they noticed that close competitors like DJI would be difficult to out-compete and changed their business model for the better. With expansion efforts in mind, 3DR really needs to focus on re-building their social capital in order to reach their target customers.
As depicted in the image above, 3DR has a total of 132.08k Twitter followers as of May 2020. If a forecasting analysis were performed on the last 12-months data (Jun 2019 – Jun 2020), it would forecast that 3DR’s Twitter followers will be at 132,355.9933 by July 2020 (i.e. forecasted 13th month). That would be a 0.63% decrease in followers since the previous year during the same time (i.e. Jul 2019). As identified, 3DR could sure use a new social media strategy to ensure they don’t lose anymore followers.
According to Black (2020), companies can use forecasting analysis to identify opportunities to change/modify/update their operational strategies. For 3DR, a newly implemented social media strategy that was aligned to their expansion efforts would benefit the company’s strategic vision to target global consumers.