The next social media application?(Disruptive Innovation)
Recently, I was in conversation with a marketing manager of a large company. We talked about the current business environment, the exciting changes in consumer behavior, and the next disruptive social media platform.
I shared my idea how the next (billion dollars) social application could be developed and maybe how I and he could potentially start it ourselves.
I have given some thought about the current social media platforms and how they actually work. I found out that Facebook, Twitter, Snapchat, Instagram, Vine, Pinterest and Youtube have a significant similarity. Each company argue that the value of their business is different from all the other above companies, but I claim that they share the same overarching value. Recently, some executives of these social media platforms even became angry when someone would label their company as a media company. However, I agree with the statement that all these social media companies are media businesses and that they all allow users to share and experience their social news through a different method. Thus the overarching value is that they all share the media value in their business, in my opinion.
Firstly, I have read, which I agree with, that sometimes news about international events would be spread faster through these social media platforms than the conventional media sources. This proofs that these platforms are used as media companies.
Secondly, I have read that the level of sharing by users about their daily activities on Facebook is declining and the news sharing activity is increasing. This also applies to Twitter, which is the second proof of being a media company.
Lastly, when I once saw a particular news from the other part of the world in several of mine social media accounts I asked myself what the difference was between all the platforms. If found out that the difference is that each social media platform allows the user to share and experience their social news in a different method by text, photo or video. This is self-evident if you use several platforms yourself. You can share and experience differently your social media in each platform.
Each social media platform allows users to share and experience their or other “social” or general news in a different method by text, photo, or video.
In this way, a new idea popped into my head. I thought if all the social media platforms are about sharing and experiencing social media in a different way, then why not create a new app in the entertainment industry. For example, when I would decide what movie to watch I would look up the movie rating on rottentomatoes.com or imbd.com. Based on the rating I would choose to look the video or not. I knew that the rating would be given after watching a movie. Therefore, I thought to combine this process with the social media concept.
The idea is when you would like to look up the movie rating you would open an app and select the film. After selecting the movie, you would not get the numerical score about the video you would see the facial and physical expressions of people that have watched the film. So, when someone watched the movie, he or she will open the app and make a picture or a 5-second video of their facial or physical expression to share their movie experience. In this way, you can get an idea if watching the movie is worth or not. Users can swipe through all these photos and videos of each film like you can skip videos or photos in Snapchat.
Maybe, this idea sounds crazy but when I told people about this idea they would get a smile on their face. Also, I would directly ask them why they would use the app. Every single person said to use such an app not in the first place to look up the rating but rather to see the facial and physical expressions of the viewers because it would be funny. I noticed that the value of this idea lies on the entertainment element reached by users through their curiosity. I figured out, which some of my friends agreed with, that this idea potentially could be launched through the Lean Startup Methodology developed by Eric Ries. In my opinion, the Lean Startup Method can validate the real business value in the short term in order to learn if this idea has any value to pursue in the long term.
Now, I am not planning to create this app, but my thoughts and knowledge made me understand the business model of several social media platforms. I don’t know if this could be a disruptive billion dollar idea but talking to several people they agreed with my idea and that is the reason why I though to share this in a simplified way.
Finally, it is my first post on medium.com, and I would appreciate some feedback, suggestions or any other thoughts about my ideas.
Thank you for reading.