The Future of Social Media: From Advertising to Subscriptions and Synthetic Kinship

The Future of Social Media: From Advertising to Subscriptions and Synthetic Kinship

Introduction:
In the ever-evolving landscape of social media, new business models are gaining traction. While the previous generation of companies relied heavily on advertising, startups are now exploring alternative revenue streams such as subscriptions, in-app payments, and e-commerce. This shift towards monetization strategies beyond advertising opens up exciting possibilities for the future of social media. In this article, we will explore the emergence of new social media platforms that prioritize the efficient use of our most valuable resource, time. We will also delve into the potential for social media to transform into functional economies and the rise of synthetic kinship. Finally, we will discuss the importance of market research and finding the right positioning for your product using tools like Google's Keyword Tool.

The Shift Towards Non-Advertising Revenue Streams:
Traditionally, social media companies have focused on growth and delayed monetization. However, startups are now realizing the benefits of incorporating early monetization strategies. By offering paid products or leveraging in-app payments, these companies can generate revenue even if their app experiences short-term popularity. This shift is exemplified by TikTok's success in acting as a gateway to e-commerce. This trend indicates that social media platforms may no longer solely rely on capturing attention but rather focus on creating multifaceted economies.

The Rise of Synthetic Kinship:
Humans are inherently social beings, constantly seeking connections and a sense of belonging. While social media platforms have provided a digital avenue for interaction, the future may hold a new form of kinship - synthetic friends and loved ones. The idea of conversing, playing, and sharing with AI creations may seem dystopian, but it is a plausible scenario for future decades. AI-powered characters could fill the void of human interaction, blurring the lines between real and artificial connections. The founders of future social media platforms may even employ AI to bootstrap new social experiences, generating billions of synthetic personalities to interact with human participants.

Market Research with Google's Keyword Tool:
For entrepreneurs, understanding the market demand for their product is crucial. Google's Keyword Tool offers valuable insights into market viability. By using this tool, entrepreneurs can validate the mainstream appeal of their product category, ensure customer-centric product descriptions, and identify potential positioning options. If keywords related to their business yield low search numbers, it may indicate a lack of mainstream understanding or demand. On the other hand, millions of searches for specific product categories indicate existing market demand and understanding. It is essential to find the right words to describe a product, as this can significantly impact its success. Sometimes, entrepreneurs may discover millions of users searching for a non-existing product, presenting a unique opportunity for innovation and execution.