Subscription or license models have not worked very well in the past, remember how premium mail services were washed off when Google offered free 1 GB accounts, and the entry barrier to Email is much higher than creating a social media site.
Jane Buck
· 1 year ago
I would absolutely not pay. I disagree that the barriers to entry are small. The largest barrier to entry resides within the person's personality test...I network vs I don't network. Without mass population there is nothing to hold everyone's interest. I'm there on Linkedin at 500, Facebook is a challenge to connect to more than 100 and Twitter is even harder because a just right amount stays interesting but following too many and you lose your topics.
Brennan
· 1 year ago
Charging $30/month would be applying an old model to a new service and would fail.
Why?
Because, while they provide tremendous service, both facebook and twitter are clonable if need be.
The value they provide is largely based on the size of their network... shrinking their network (via charges) would lessen the value of everything they do. What they should do, and are already doing somewhat in facebook, is charging corporations for access/advertisement and charging users for additional features... simple.
Uri - Pay Per Keyword Search E
· 1 year ago
I currently pay for linkedin.com but they do have a specific niche that they are serve.
Business networking is a bit different from "Social" Networking.
Frankly, I wouldn't pay for twitter,facebook or any BROAD Social networking site...
Dana Lookadoo
· 1 year ago
Quick and simple: No! I started participated in Twitter and FaceBook simply to keep abreast of social networking trends to be able to inform and help clients. The networking value has been fun, however. Would I pay $30/month for the fun? No.
Randy
· 1 year ago
Online Marketing 101 - How to kill a growing business as quickly as possible?
Charge a monthly subscription rate.
The only way I could see this even remotely working is if they offer a free basic account and then offer a premium upgrade account with special benefits, much like Flickr Pro. But if those upgrades are barely anything - big backfire potential. And personally, I never pay for any of that stuff - just waited Yahoo Mail to open up their storage after Gmail. You think people are going to pay $360/year or find the next big (aka free) thing?
But I agree with Brennan - if they start charging, people would move to a free service or someone out there would take a an off-the-shelf app and create something new. How many new social network invitations have you gotten this month? I've gotten at least 10.
Anthony Carretta
· 1 year ago
Great Question.
I personally use Linkedin for personal networking, which has turned out to be fabulous. It is certainly not anything I would be willing to pay for.
A pay-subscription service may not be an ideal choice to monetizing these social network sites. Premium services absolutely is an appropriate approach. Charging to list jobs is certainly something recruiters may pay for as people move away from Monster and CareerBuilder in their search for talent.
I believe MySpace is doing a good job catering to a non-professional younger audience using the Internet for social networking. The site is filled with Ads which doesn't appear to hurt the site.
Jacob Morgan
· 1 year ago
Hi Anthony,
thanks for the comment. Seems that most people would pay for linkedin if they had to choose one social network to pay for. linkedin does have a paid model for premium services and is doing quite well. you are definitely right about myspace, in fact i think they have gone a bit too far with all of their ads.
J
william
· 1 year ago
not a chance.
ash
· 1 year ago
Its a burnt bridges issue surely? social networks cant now charge unless providing some amazing value add.
But i wonder what premium services are these sites missing? What is in everyone's social network feature wish list and what would/wouldnt be worth paying for on that wish list? Or is anything worth paying for if social networks can ad-monetise without marring these new features.
Jacob Morgan
· 1 year ago
@ash great points. most social networks do not have the premium value ad service. linkedin is a good example of a company that knows when/what to charge for.
The thing about the social network "wishlist" is that many people are expecting the changes to be made for free. I think it is going to take more than just a feature before a company can charge, companies are going to have provide an entire new service, something that really ads value. thanks for reading ash, i hope to see more of your comments in the future
paul
· 1 year ago
Example: If I had paid $30/month..only to see a 75% reduction of my friends list (because they either won't pay, can't pay, or have moved to another free service), would I think it's worth it, and continue paying? HELL NO! These services are all about connecting with the masses. In this case, it's not the service that make the people, but rather, the people that make the service!
Jacob Morgan
· 1 year ago
@paul exactly, I like that, "the people that make the service" :) thanks for commenting and for reading!
All Comments
Why?
Because, while they provide tremendous service, both facebook and twitter are clonable if need be.
The value they provide is largely based on the size of their network... shrinking their network (via charges) would lessen the value of everything they do. What they should do, and are already doing somewhat in facebook, is charging corporations for access/advertisement and charging users for additional features... simple.
Business networking is a bit different from "Social" Networking.
Frankly, I wouldn't pay for twitter,facebook or any BROAD Social networking site...
I started participated in Twitter and FaceBook simply to keep abreast of social networking trends to be able to inform and help clients. The networking value has been fun, however. Would I pay $30/month for the fun? No.
Charge a monthly subscription rate.
The only way I could see this even remotely working is if they offer a free basic account and then offer a premium upgrade account with special benefits, much like Flickr Pro. But if those upgrades are barely anything - big backfire potential. And personally, I never pay for any of that stuff - just waited Yahoo Mail to open up their storage after Gmail. You think people are going to pay $360/year or find the next big (aka free) thing?
But I agree with Brennan - if they start charging, people would move to a free service or someone out there would take a an off-the-shelf app and create something new. How many new social network invitations have you gotten this month? I've gotten at least 10.
I personally use Linkedin for personal networking, which has turned out to be fabulous. It is certainly not anything I would be willing to pay for.
A pay-subscription service may not be an ideal choice to monetizing these social network sites. Premium services absolutely is an appropriate approach. Charging to list jobs is certainly something recruiters may pay for as people move away from Monster and CareerBuilder in their search for talent.
I believe MySpace is doing a good job catering to a non-professional younger audience using the Internet for social networking. The site is filled with Ads which doesn't appear to hurt the site.
thanks for the comment. Seems that most people would pay for linkedin if they had to choose one social network to pay for. linkedin does have a paid model for premium services and is doing quite well. you are definitely right about myspace, in fact i think they have gone a bit too far with all of their ads.
J
But i wonder what premium services are these sites missing? What is in everyone's social network feature wish list and what would/wouldnt be worth paying for on that wish list? Or is anything worth paying for if social networks can ad-monetise without marring these new features.
great points. most social networks do not have the premium value ad service. linkedin is a good example of a company that knows when/what to charge for.
The thing about the social network "wishlist" is that many people are expecting the changes to be made for free. I think it is going to take more than just a feature before a company can charge, companies are going to have provide an entire new service, something that really ads value. thanks for reading ash, i hope to see more of your comments in the future
exactly, I like that, "the people that make the service" :) thanks for commenting and for reading!