To succeed in creating a hit social media app in 2023, you'll need:
To build an incredible product - Really hard 😢
Acq. users and achieve network effects - Risky and expensive 😫
Do steps 1 & 2 fast enough that to prevent competition from taking advantage of you!
You also need to ask new users to do multiple tasks, such as downloading the app, creating an account, following other users, and creating posts. That can seem overwhelming and can deter them from trying your new product.
Plus, many people are happy enough with the apps they currently use and don't want to spend more time on social media…
And asking new users to grow their own followers is a big ask! It’s difficult to start from scratch. That’s why the 1st generation of TikTok stars weren’t celebs or IG influencers, but early users who were willing to put in the time and effort to grow a following from zero.
Wouldn’t it be easier if you could transfer your followers from Instagram to TikTok? Well these social media giants don't want to share their "digital oil" aka user data. They wanna keep you hooked to their apps for as long as possible.
They collect data on users and sell it to advertisers. The more time you spend on the app, the more ads they can serve you. These companies are looking to maximize user engagement and make more money 💰 They definitely don’t wanna share that data with their competitors.
But what if users could take ownership of their own data and relationships? What if we could take our followers with us? What if trying new social apps was as simple as just signing in?....
A world where users have a single profile that works across all socials would help new products succeed by reducing the time and effort cost for users to try new apps and user acquisition cost.
Applications would compete for niche but highly engaged groups of users, optimizing the experience for smaller groups of passionate users (1000 true fans) leading to more success for the product!
This vision of the future where users have a single profile that works across all socials is being worked on by projects like @lenstubexyz, @orbwagmi, @YUPIO and more! This lets users keep their audience from one app to another and gives more control over privacy and data.
To unify all of this web3 native search data, would be Sepana! Making it possible for users to find and access the content and communities across all DAO’s, Social, NFT products and more!
Credits go to @brad_or_bradley for the great write up on this topic and inspiration for this summary.