Facebook and Google+ are readying themselves for a showdown. If you think that their activities aren't a concern for your business, you may want to rethink your position. Building an active social network requires a major commitment. In an economy where every penny needs to deliver a return, spreading already thin resources across multiple channels is a challenge. The platforms wars make it worse.
Choosing the right platform from a group of three isn't hard. The playing field changes when new participants enter the arena. Odds are that the big players, Facebook, Twitter, and LinkedIn won't fall quickly. Maybe they won't fall at all. We don't know exactly how the social channel will look in five years, but we know it will be different from today. It is evolving and people are migrating.
People naturally migrate towards others with similar views and interests. The old adage, 'birds of a feather flock together' remains true today. The social platforms that appeal to the masses (like Facebook, Twitter, and now Google+) will spar with each other for market share. As new players join, looking for a piece of a multi-billion dollar pie, existing communities will splinter. The community creators will have to participate on more platforms to reach the same audience.
While the big boys and girls are trading punches, watch for an increase in smaller networks targeting special interest groups. Their reach won't be as sweeping. Participants will be pre-qualified before participating, similar to trade associations and clubs. It is a good news/bad news scenario. The good news is that people in specialized groups are very responsive to offers that fit their needs. The bad news is that your marketing channels will be even more fragmented.
What does this mean for your company's social network?
The worst case scenario is that it will go from an active group of many to multiple groups of a few. Visually, it goes from this:
To this:
Each of the groups requires resources to manage them. If you thought your marketing dollars were stretched thin, just wait a couple of years. Even if you opt out of multi-platform marketing, the growing pains of the big boys will increase your marketing costs.
Facebook and Google+ are entering the ring first. As one adds new functionality, the other will counter with something faster, cooler, or better. The changes may be improvements to the status quo, but they are changes that require user adaptation. Keeping up with them will be a challenge. Anticipating them is impossible.
Here are some tips for preparing for the battles so your business isn't harmed:
- Capture your customers' information including platforms of choice and user handles. Periodically request updates so you'll be able to track their migration.
- Don't invest heavily in any of the platforms. Do what you need to do to build your community while avoiding extensive customization.
- Use your existing resources whenever possible. For example, use Facebook as a portal to your website instead of building your sales page within the platform.
- Pay attention to the new players. Even if you aren't planning on participating, claim your user handle before someone else does.
- Be flexible. The environment is changing. Adaptability is the key to success.