The biggest un-tapped revenue channel in social media
All of my best ideas that come to me are for the tech giants. Amazing things left unexploited. Are these companies just too big and staunchy to try these things? Or perhaps my ideas really aren’t that great. Either way they may never get validated.
To name just a few, I think Netflix should have a reel with previews of new shows running as soon as you launch it. They should have “channels” with shows always on, to take away the pain-point of finding a show (and how bout a 24hr news channel?). Amazon needs a cleaner UI with about 6 fewer navs. Apple? That’s a whole article’s worth.
However, in regards to Twitter and Instagram, or really any social network, there’s a huge opportunity for revenue that has, as of yet, been un-leveraged — well, at least by the services themselves. The user’s on the other hand, as usual, are way ahead of service.
Influencer marketing has really becoming an important advertising channel and companies are popping up all over the internet to meet the demand. There are dozens. What I don’t understand is, why aren’t social networks the ones who get to match brands to influencers, and take a cut? No one has better insight than the platform themselves on which influencers are a fit for a brand, or has a more accessible connection to these influencers. Perhaps no one is more entitled since it’s their platform that’s being leveraged for the influencers gain.
Recently I googled around and found some influencer marketing companies to inquire about marketing my bootstrapped podcast app, and was turned away by an agency because they don’t deal with less than 6-figure ad budgets.
Here’s a piece in the Times about how the Kardashians are making absurd sums shilling brands on Instagram. Why isn’t Instagram making itself the marketplace for this? (Why don’t they have a repost feature? We may never know).
It seems to me like an obvious win for social networks to be the marketplace for influencer marketing. In one fell swoop they could undercut so many third-parties that have already realized the opportunity.
How this gets implemented is another topic, but it’s too big of a gold mine to be ignored by the social media giants. So there you go, tech giants. Feel free to offer me or an absurd salary. I’ve got plenty more ideas for you.