Become a social media platform | Win the Race for Engagement
Why become a social media platform
Hi, Readers Today we have a very interesting topic. This is something you would want to read as it is something that may dictate the future of Web-based interactions. Today we are gonna talk about becoming a Social Media Platform and why does every company is trying to go the same route. This post will give you a basic idea of why becoming a social media platform or using some features of a social media platform can benefit your business.
The main reason behind the idea is engagement and time spent on your site. This the reason why you should implement some features of social media into your website. Your website can be an e-commerce site, a blog, a forum, or even some other site, by implementing some aspects of a social media platform, your brand can become a social media platform as well.
Learn from other Platforms
Many Social Media Platforms started as another type of platform and many other platforms are trying to become social media platforms. Youtube is a prime example of this situation. You started as a video-sharing website and for a long while it remained that way.
In the start, the popular video-sharing website included a few aspects of social media for example, like and unlikes, subscribes, and shares. In due time Youtube has added more and more social media features to keep its content creators and their subscribers on their platform.
Another example of this type of platform is Redbubble. This a great example of an E-commerce platform innovating to keep their users and customers on their platform. They have added a Like feature to the designs and mockups of their designer’s work. The way their designers and their users can like and add designs to their wishlist and even follow the shops of their favorite designers to see their latest uploaded designs in their feeds.
Many Other websites like image sharing and video sharing websites do this. A website that provides stock images also does this. Then there are freelancing and portfolio sites that also apply this strategy to keep their users on their website and create a community by making their users interact with each other by giving them simple pleasures like the Like, Share and Follow options.
The Economical Explanation
To explain why so many platforms are trying to become a social media platform, Consider a scenario where you live in a closed society. In that society every day to day need is available. You have everything available from Groceries, Medicine, and Snacks to Gym, School, and Entertainment. Will you be leaving that Society? The answer is No! You’re gonna stay in your society and spend more time in that society.
This is the basic explanation of the is business model. Nowadays companies that gather a large number of users want them to be on their platforms. The Provider Marketing, Engagement, and Interaction capabilities on their platform to make their users and visitors stay.
This increases their chances of making sales and increases the chances for advertisers to spending money on ads. This creates a closed economy of that platform.
You must have heard of Facebook launching their cryptocurrency “Libra”. This is a major step in Facebook’s Maga corporation Journey. This is going to make Facebook an open but controlled economy. In other words, Facebook a Megacorporation is gonna become a Small Government with its currency and monetary system. You can simply say that Companies are the New Governments.
Benefits from this Idea
As we explained in the above section, keeping people longer on your platform will increase your chances of economic prosperity, Really it does the more features you add the more time people spend on your site, the more time they spend the more chances you get for capturing their attention, and the more time you have to capture their attention the more chances you have to make them convert. This is the Golden rule of Platform-based businesses. Making People stay to Make them Convert.
You can do this by adding the first main feature of adding an account registration feature. If you want to make them stay on your site You need to give them an Identity on your platform and a place to start. Collect their information and give them the ability to customize their Profile. This way can have a feel of Privacy and add a small sense of their personality on your website. But the biggest point is to make the best use of their Dopamine Hormones.
There is a lot to discuss on this matter, so much that this post is not enough to describe them all. You can make a great business if you implement these features on your website, but be sure to hire a trustworthy custom web solutions team, to make your dream business a reality. Also, be sure to do your research on what you actually want to create. For that do visit our social media technology blog.