Niche Social Networks VS Niches In Big Social Networks
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image credit: [AndreaA] (Flickr)
It's hard to believe that the social network space as we know it is today is only a few years old. The summer of 2006 saw MySpace claim the spot as the #1 social network, and a new rival, Facebook, opened their doors to anyone with a valid e-mail address. Over the past 2 years, the two networks have seen some major ups and downs. Facebook, an underdog favorite at the time, was applauded by the web community for opening up their platform and allowing the development of applications. But not that long after came the controversy of Beacon and various other privacy concerns. MySpace, meanwhile, has seen user outrage over everything from reliability and spam to security and child safety.
Although reports vary, most measurements suggest the number of people who visit Facebook and especially MySpace has leveled off over the past few months, possibly even declined. But despite the warning signs of "social network fatigue" early this year, the newswires in the social world and corporate social media plans for 2008 have still centered their efforts around the two industry giants. So the real question is, should they?
Of the $920 million spent this year to advertise on social networks in 2007, 8.2 percent went to niche sites. That is expected to grow to 10 percent in 2008. Niche is big! There are over 300,000 niche networks on Ning alone. We have niche networks being used as tools in the 2008 election. And networks, such as LinkedIn (career) and imeem (music), are growing so quickly that it seems strange to even call them "niche".
Clearly, there is a growing case for the success of niche social. However, how much user base and marketer dollars will it attract? Let's examine the benefits of niche social networks versus niches in big social networks for both the user and the marketer.
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