Joyriding The Social Media Boom
Written by Khalid Al-Khames on January 29, 2008 – 1:16 am
Joining the web 2.0 social media boom that is plaguing the internet is something I never thought I’d even consider, especially with the stiff competition in extremely lucrative market. With sites like FaceBook.com estimated to be worth billions, social media websites have recently attracted the backing of global corporations such as Google.com.
Before you think I am going to start “BookFace.com” and attempt to steal a segment of the market (which would make everyone laugh rather loudly), I am not. After finding three successful websites that are quite simply, popular blogs, I have decided to attempt to do something similar.
I have a rather cool name and slogan too, something I just thought up and lukily the .com was available!
I’d really like to know what you think the future is for social media sites and where you see the market going in the next few years? Do you think older sites like MySpace will be pushed out by newer sites like FaceBook? With new ideas like Twitter being able to post notes on the move, what will the future be for letting people know what you are up too or where you are?
Good luck with your persuits,
Khalid.
Tags: facebook, future, myspace, social media, twitter, web 2.0
Posted in Entrepreneurship, General, News, Projects |
January 29th, 2008 at 8:35 pm
Khalid,
Noone I know continues to use MySpace since FaceBook came along.. Bebo is still talked about, but rarely. Facebook also allows users to update their profiles through a mobile phone now I believe making it a lot better than existing social sites.
The one thing that drives Facebook out there in the market is the applications that are used. Some are hopeless and useless, but many of them are useful and help people ‘get together’ and stay online. I haven’t been on MySpace since I joined facebook and so I can’t give a fair opinion of it.
I am guessing that the future will bring lots of positive things for these sites. Things will be made more secure and there will be much more available to everyone.
That’s my take anyway
January 30th, 2008 at 7:42 am
Khalid,
I actually do have a site in this niche. It’s less than a year old and one of my smaller ones, but I think it’s a good niche to be in.
Nathan,
I know Facebook is all the rage right now, but Myspace is still twice the size of FB and have made lots of improvements.
From my perspective the honeymoon is already fading with FB in the U.S. so I have serious doubts that it will be able to surpass Myspace any time soon if ever. That’s not to say it won’t continue to be a force.
January 30th, 2008 at 10:28 am
Thanks for the comments, I’m totally in agreement with both, especially the fact the “honeymoon” period is coming to an end for facebook.com.
Saying that, the site will still be generating a lot of money as people integrate facebook.com into their daily lives, much like using twitter.com every 10 minutes!
My site is nothing along either of those lines, more a social collection of media. A very simple idea but one that could generate a lot of interest if people participate.
Keep the comments coming in!
Khalid.
February 3rd, 2008 at 2:42 am
I think social media is going to explode in the next 2 or 3 years. i hate Facebook, but I think it’s commercial value is going up and there’s npt sign of it slowing down.
February 3rd, 2008 at 3:05 am
In my opinion, the whole social media phenomenon has just started. If you think about it for a second, you might find one of many reasons why websites such as facebook and many others are gaining popularity:
User generated content!
While having a strong presence among the members of a community (leveraging traffic from web 2.0 sites) is a powerful feature of social media, the OWNERS of these sites are the ones who take advantage of their members.
I didn’t realize the uncanny power of web two point zero until i read this awesome blog post from master marketer James D. Braush: jamesbrausch.com/user-generated-content/
What I like about James’ blog is that his posts really make you think, and not only get pitch after pitch.
Enjoy!
February 3rd, 2008 at 3:11 am
Off topic:
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Here’s the link: prevalstore.com
Not sure if you are signed up with CJ or not.