If you think the social networks niche is already taken over and overused, just remember that Instagram appeared on App Store only by the end of 2010. And in the first few years, many made fun of this social network and square photos that “will not be interesting to anyone”.
Such examples exist also in recent years. Consider TikTok and Likee, a new format that in recent years has achieved sufficient audience volumes to compete with market leaders. Another good example is Clubhouse, which reached the height of popularity in only a few months in the spring of 2021, although it lost momentum due to the late launch of the Android version and closed registration.
These examples show that there is always place for unique ideas, new concepts and niche projects. Moreover, competition between social networks is nominal. A user can be registered even in all projects.
Features of social networks development
It does not exist and cannot be a universal algorithm for the development and promotion of social networks. The technological solutions and marketing methods used will depend on the concept of the future project.
It all starts with the idea and positioning. For example, LinkedIn is a social network for businessmen and networking, and Soundcloud is a platform for musicians. Once the target public is determined, you can continue planning the project's structure and functionality.
It is necessary to determine for what purpose the users will visit the site. What features need more attention and what need omission. The more convenient opportunities for users in the web service, the more successful chances are. Therefore, special attention should be paid to usability work.
Once the MVP (Minimum Viable Product) is launched, all efforts should be marketing oriented, attracting users and testing and improving the platform. If, at this stage, users like the service and will be profitable for developers, it can be scaled into a large social network, capturing its market share as quickly as possible.
It is very important to surpass quickly the critical mass of users. After all, the overall value of the social net increases with each new account.
How to monetize your social network?
These services are essentially a huge personal database that can be used to target advertising companies. Social network advertising systems can provide advertisers with the most precise blow to their target audience.
Many projects are also introducing additional functions and payment products for site users, receiving additional monetization. When a social network draws the attention of a large number of people and can maintain them for a long time, it becomes immediately interesting for many advertisers.
A social network is a complex project that requires joint efforts by a large number of technical specialists, marketing specialists and designers. It is ideal if they already have experience until now in launching social networks or other commercial services.
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