#SocialMediaMarket #2024Trends #SocialMediaPlatform #MarketResearch
Hey there! 👋 Are you considering diving into the social media market in 2024, but wondering if it’s too late to make a splash? 🤔 Well, you’re not alone! With so many platforms out there, it can be intimidating to enter the space. But fear not! Here are a few thoughts to consider:
– It’s never too late to enter a market if you have a unique offering or a fresh perspective. 🌟
– Research your target audience and understand their needs and preferences. This will help you tailor your platform to meet their expectations. 🎯
– Stay updated on the latest trends and technologies in social media to ensure you remain competitive in the market. 📱
– Collaborate with influencers or industry experts to help promote your platform and reach a wider audience. 🤝
Remember, the social media landscape is constantly evolving, and there’s always room for innovation and new ideas. So don’t be discouraged! Give it your best shot and see where it takes you. Good luck! 🚀
No
No, it is never too late or we’d all still be using Myspace and Bebo. But it is more difficult (read substantially more difficult) and gaining traction will be hard. But not impossible.
If you want a better answer, I’d ask this question on Google+
No but if you manage to wiggle yourself into the market, the cost to scale at the speed you will have to in order not to die is very high
Listed as one of the Top 5 Most Difficult Oligopolies to Disrupt
It’s never too late to do anything
I think it very much depends on what the social media is and what makes it different from the existing platforms.
You’d have to have a very strong and unique value proposition.
Alex Trebek (Jeopardy! host) early in his career had the chance to move to another network in a prime time slot. He ultimately turned it down because he received some sage advice. “People are so stuck in their routines they won’t bother to change channels”
Even if you build a 10x better social network and have unlimited funding you are very very likely to fail simply because of inertia/laziness of your customers
It’s got to be: different, niche, or have enough founder members to attract your desired audience.
Do you have something in mind?
I’ve been working on a social media app in the book space for the last 3 years, and it’s a tough market. The classic way of generating revenue by advertising works at scale, but users hate it.
I don’t think so. I’m working on one. I think I have an angle that’ll work.
Depends on the niche.
Yes and yes.
Put it out there and you will experience it
It’s going to have to be social media built on top of an intrinsically useful web app I think. Like Letterboxxed. It’s a great way to track which movies you’ve been watching… and it’s got all these nice social features.
Highly dependent have you talked to people who are in your target demographic
BeReal beat the odds. You can, too, if your idea is radical enough
If its cookie cutter, then best of luck
Yes