The Social Networks of the Future August 28, 2020
Crunchbase, Angelist, Telegram, Discord, Behance, Github, Twich, Trello…the list is endless. But what does it mean for the future of social?
Will Facebook die? Will Instagram stay trendy?
The new and the old
As with every market trends come and go, in the case of social, whole networks bloom and flourish and then disappear into thin air. And whilst many companies have narrowed down their focus on Instagram and Facebook alone, then that just shows two things, a) a trend, b) confusion.
Partly because the new networks are not so new (they have been around for years), and the old are not that old really (have not been around for more than 2.5 decades). So what will define the future and how do we know which exactly is the network that provides the golden solution to all of our problems?
The answer is not as simplistic as it seems.
Fragmentation VS Specialisation
There are two directions social is moving in. The first is, fragmentation. The introduction of similar services divides the user base making it harder to absorb all users under the same roof.
Fragmentation leads to higher expenses for businesses. They need to spend more, trying to cover as many social networks as possible.
Specialisation on the other hand is a more welcome development. It leads to the formation of highly niche communities. These communities are easier to interact with. They are also easier to monetise.
Social media specialisation lowers the cost of advertising for businesses. Specialisation in social leads to more targeted messages, happier audiences, less noise.
Crunchbase, Angelist, Telegram, Discord, Behance, Github, Twich and Trello are redefining many ways organisations communicate with each other, their prospect leads and their existing customers.
The new wave of social media companies, provides solutions where others have failed. It plugs gaps in the market by taking advantage of the generic look-and-feel of the established social neworks.
Thus the envelope is pushed to new heights with companies competing for your attention more than ever.
For advice on how to best monetise this process and how to ensure that your business gets the max, get in touch.