I was stunned today when I realized the new generation of kids who are eating social media up, aren’t old enough to remember MySpace. Seriously; 14% of Facebook users, 19% of Twitter users, and 25% of Reddit users are younger than 25, and don’t forget a lot of them are probably lying about being that old [Mashable]. Like many other fads, Myspace went out of fashion like it were high water jeans, and we all thought those would never go out of style.
So what does this ridiculously rapid growth mean for business owners?How do you master a platform that doesn’t stay the same for longer than 24 hours?
Well, no one can see the future and develop a plan, but as the wise G.I. Joe’s once said, “Knowing is half the battle”. For example, you may think Twitter is dominating the ‘micro’ social networking trend, but let’s look at the facts. Twitter is only ahead in one category – text. If you want to share an image or video, you have to download a new app!
Even if Twitter solved that problem by constantly absorbing smaller networks, like it has with Vine, how are they going to pay for it without successful monetization? I mean sure, you can pay to promoted an account or tweet, but the only businesses buying in are those that have the money to spend on experimentation.
Honestly, I am not trying to bash on Twitter, it’s a great social network that has changed the way we communicate. So much so that Jimmy Fallon and Justin Timberlake made a skit about it (on the right –>). Hashtagging has blazed the trail for making new connections, but it’s important to realize that, “the future of social is not going to be a winner-takes-all scenario,” said Gene Munster, an analyst at Piper Jaffray. “No service can be all things to all people.” [New York Times]
The point I am trying to bring up is that there can’t be one social network, and that’s not a bad thing! Niche networks with their own unique demographic makes marketing more tailored and effective. The only way to really protect yourself from suddenly losing a presence you worked so hard to build, is to work with experts who know their sh*t. Follow the trends, and they won’t leave you behind.