Can the Newly Created Social Network Survive in 2020?


Can the Newly Created Social Network Survive in 2020

Despite guaranteed stiff competition, there is still a good chance for a niche social network to survive in 2020 and even expand in the future. Its founders could steal a trick out of Facebook’s playbook. That is, cater to a specific target demographic and then roll out to a larger group so fast that the competition does not catch up. But not to forget, there are other factors which will also come into play, including speed of implementation, capital, and so forth. 

What Is a Social Media App and Why Is It an Excellent Investment?

A social media application is a networking platform that allows users to create online communities where they can share ideas, information, photos, personal messages, videos, and other content. 

Having said that, there are numerous benefits of having a social media app. Let’s highlight some of them:

Increased loyalty

Social media applications provide a channel for interaction with the audience, enabling them to criticize as well as share their opinions. In turn, this boosts the confidence of users in the relationship with your brand leading to more loyalty in the service or the product that your brand offers. 

Better Brand awareness

Having a social media app will help make your venture more noticeable. It allows you to reach a new audience and expand exposure for your company irrespective of geographical boundaries. 

More Downloads

By increasing brand visibility, social media networks can also help you increase the number of downloads. 

More Traffic

A social media app enables you to improve the credibility of your pages in search engines and increase the traffic to your service. 

Cost Savings

Given that social networks are free to use, it will not cost you to push your brand on an application.

Improved Brand Image

Social media apps allow audiences to interact with and express their opinions of companies. In turn, this makes them feel valued, thus improving the image of your business in their eyes. Social listening tools can help you get a sense of what your audience has to say about your brand. 

The Situation in the Social Media Market

Social platforms have established themselves such that there are “five core networks,” which have not changed much over the years. Nonetheless, the most renowned social websites have significant differences in usage levels across different demographics and countries. 

So, by comprehending these popularity differences, you can know how to target your audiences more effectively. You also need to take note of the fact that popularity is not entirely about the number of accounts, but also active account usage. 

That said, there are 3.484 billion active social media users in the world in 2019. This number goes up by 9% every year. This implies that we can expect significant growth in social media users in the coming years. At 45% in 2019, social media penetration went up by 3% from 42% in 2018. 

Now, what is the most popular social network in the world by active users?

Facebook leads at the top, having 2.38 billion monthly active users as of the first quarter of 2019. Second on the list is Google-owned YouTube, and Facebook’s WhatsApp rounds up the top three. Instagram is the sixth most popular after Facebook Messenger (fourth) and WeChat (fifth.)

YouTube, Facebook, Instagram, Pinterest, LinkedIn, and Snapchat, in that order, are the six fast-growing social networks. 

How to Develop a New Social Media App

So, are you think of starting your own social app? Here is a step-by-step guide to success:

Understand Your Audience

Define your target audience by using as many values and parameters as possible. This way, you will significantly reduce the risk of failure. You can go about this stage in either of these two ways:

  • Test and learn: You need your demo app so that you can test it on actual users and then take note of assumptions based on their reactions. You have to organize test people, develop questionnaires, and avail necessary equipment for the tests. 
  • Online research: Discover more about your target audience by using the internet to gather and analyze the demographics, behavior, and psychographics of people. Use a relevant social media intelligence tool, to derive vital data around your brand. 

Have a Growth Plan Based on Your Demographic

Develop a consistent plan of growth that aligns with your target users. In order to achieve this, you can adopt one of the following strategies:

  • Start from the bottom and work your way up: Do it like the social media giant, Facebook did. It started as a local social site before growing to worldwide reach. Learn from their path to growth. 
  • Go all out: Target a large user base and implement a massive marketing campaign from the start. Twitter is an example of a social media app that managed to achieve this feat. For this, you must follow the expert’s way on how to build a social media app

Developing Your App

Here are some things you need to tick off your list in order to ensure that you are on the path to launching a successful social media app:

  • Money: The cost of development will depend on the complexity of the features you wish to have on your social network. Simple functionality will be cheaper, while complex features are likely to cost you more. 
  • The platform: Consider if your social site is going to be entirely web-based or will need a mobile application too. Conduct audience research to inform your strategy on this, since it is their preferences you want to align your project with.  
  • Traffic estimation: While it is not possible to estimate your traffic accurately, getting a rough idea of the same will be quite useful to your development team. Use PostgreSQL or MySQL for your structured data and MongoDB for high traffic surges and high-loads. 

Use a Simple and Minimal UX Design

Like anything else, user experience matters for social networks. As such, it essential to keep everything minimal and straightforward. Have that in mind when creating the following:

  • Chat features and options
  • The elements of a typical profile
  • Newsfeed feature
  • Engagement buttons
  • Comment areas
  • Set up page
  • Social groups options
  • Connect Buttons

Promote Your App

After getting your final product ready, you need to promote it in your target demographic in a manner that resonates with their desires and needs. Consider digital marketing as well as traditional advertising to get your brand out there to the people.

Build a social media presence. In order to get the word out about your brand, you need to build brand awareness on relevant social media platforms. Follow a well-planned social media strategy to enhance brand exposure and generate leads in the process. 

Examples of New Social Networks

Let’s mention some new social networks in 2019:

  • Amazon Spark: a feed of photos and stories from Amazon clients featuring products ready for buying.
  • Anchor: A broadcasting application that enables users to record a high-quality podcast and widely distribute it.
  • Facebook for Creators: A community that helps video creators to produce content on Facebook. 
  • Lasso: A social media network for creating and sharing short videos using effects and filters. 
  • Foursquare Swarm: A social application that allows users to map and track the places they go, share spots with friends, and facilitate exploration. 

Summing It Up!

To conclude, we reiterate that a newly-created social network can survive in 2020 and beyond. Nonetheless, you need to dedicate yourself to the project as you might have to do it over several months. All said, follow our guide, and you will be successful.

Author

Michael Shannon

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