Can new social media networks survive?
You don’t need to be a social media marketer to know that there are MANY social media networks available these days. Many of these networks do similar things, posting updates, sharing videos/photos, however others are rather unique. With all of the latest buzz around Ello, it made me think… is there really room for more social media networks? I mean, I already have an account on Facebook, Twitter, YouTube, Google+, Instagram, Pinterest, Tumblr, Linkedin, Snap Chat and it’s a struggle checking each of these every day let alone posting on them. Yes I know Ello is simple and ad free which I think is great, but is it really enough to draw people in by either converting them from Facebook, Twitter etc or worthy of adding it to your over-flowing arsenal of social media accounts? Will we all get to a point where our entire day outside of work consists of checking our 50 social media accounts?
Ello has created a massive amount of buzz lately but much of this I believe is due to the exclusivity, novelty and fear of missing out rather than the actual functions of Ello as a social media network. By this I mean Ello is still new and relatively unexplored, so people are naturally intrigued and want to be a part of it. Since the only way to join is by requesting an invite and waiting what could be months, or getting an invite from someone already on the network, this makes people want to join even more because nobody likes being the only person to miss out. I have an Ello account, but the main reason I signed up was to see what it’s all about. I certainly didn’t want to miss out on what everyone was talking about! But in all honesty, I haven’t used Ello since first signing up and exploring the network. Could this be the case for other people who have signed up?
The social media world is incredibly saturated, which means for newbies such as Ello, if the basics of your network are very similar to those that are already exist, it may not be enough for you to survive. One of the creators of Ello stated in a recent interview that they have no intention of becoming a Facebook killer and that if 50,000 people use the network they’ll be happy. Maybe emerging social media networks need to perhaps aim lower or hone in on a particular niche like Ello has. If they really want to thrive, they may need to differentiate themselves from existing competitors by adding some sort of wow factor which will make them unique and lure in users. Momentum can only take you so far and I for one am very interested to see where Ello is in 6 months time. I sure hope it doesn’t turn out like the picture below…
What were your thoughts on this topic? Do you believe there is room for more social media networks in this already saturated market? Will smaller networks need to further differentiate themselves in order to stay alive?