The future of social is Bringing People Together. In the early days of social media, the tools were basic, but the vision was grand. The idea was that a more open and connected world would lead to a better world, where everyone had a voice. However, as time went on, we started to see the negative effects of this connectedness. Likes and follows began to dominate our perception of ourselves, and social interactions turned into competitions.
Hatched by Kazuki Nakayashiki
Sep 13, 2023
4 min read
7 views
The future of social is Bringing People Together. In the early days of social media, the tools were basic, but the vision was grand. The idea was that a more open and connected world would lead to a better world, where everyone had a voice. However, as time went on, we started to see the negative effects of this connectedness. Likes and follows began to dominate our perception of ourselves, and social interactions turned into competitions.
Recognizing this shift, Facebook is now repositioning its efforts around more private communications. In private conversations, people tend to express more of their true selves and share more personal experiences. This move away from public feeds and "media channels" acknowledges the need for more authentic connections.
The main revenue driver for top social companies today is advertising, and a major factor in ad revenue is the time users spend on the app. However, this revenue model based on time spent is a zero-sum game. It pits social media companies against each other, vying for users' attention. The focus on experiences rather than media could be the solution to this problem.
The next wave of social products will be about creating meaningful experiences. Instead of simply consuming media, users will have the opportunity to do things with their friends. Going to concerts together, sharing meals, or just hanging out will become the new focus of social platforms. These real experiences are what truly matter and create lasting memories.
In order to successfully scale a social platform like Pinterest, there are several lessons to be learned. One important lesson is the significance of measuring the right metrics. What you measure is what improves, so it's crucial to choose the right indicators of success. For Pinterest, this meant shifting the focus from monthly active users (MAUs) to increasing the number of new weekly active pinners. This change in measurement helped the team stay on track and prioritize the right initiatives.
Execution problems often stem from two root causes: the wrong organizational structure or the wrong person in a particular role. As a company scales, it's important to regularly evaluate the organizational structure and make necessary changes. A structure that aligns with the company's strategy is essential for successful execution.
While it's important to listen to user feedback, it's equally important to recognize when to ignore it. The loudest users are often a blessing and a curse. They are passionate about the product and provide valuable insights, but building solely based on their requests can limit growth. Sometimes, the data points in a different direction, and it's important to be willing to go against the vocal minority for the sake of progress.
Adding every requested feature may seem like a good idea, but it can lead to a bloated product that only a small percentage of users actually utilize. Instead, focus on asking the right questions to find scalable solutions that the majority of users will benefit from. It's easier to add features than to take them away, so be cautious with what you choose to implement.
Once a social platform reaches a certain point of success and has a dedicated user base, it's important to shift focus to the next wave of users. Building for the existing users will only take you so far, and in order to grow, you must be willing to take risks and potentially upset your current users. It takes leadership and a commitment to long-term goals to navigate these moments of organizational self-doubt.
At Pinterest, the team faced challenges and moments of doubt but stayed true to their first principles. They doubled down on their value proposition to users and persevered through growth strategies. Ultimately, they were able to crack a new distribution strategy and continue their growth.
In conclusion, the future of social media lies in bringing people together through meaningful experiences. Shifting away from the focus on media and likes, and instead prioritizing real-life interactions will lead to more authentic connections. When scaling a social platform, it's crucial to measure the right metrics, evaluate the organizational structure, and be willing to ignore the loudest users when necessary. By staying focused on long-term goals and continuously adapting, social platforms can continue to evolve and bring people closer together.
Actionable advice:
- Prioritize measuring the right metrics that align with your goals and user behavior.
- Regularly evaluate and adjust your organizational structure to support growth and execution.
- Stay focused on your long-term vision and be willing to take risks to reach the next wave of users.
Sources
Hatch New Ideas with Glasp AI 🐣
Glasp AI allows you to hatch new ideas based on your curated content. Let's curate and create with Glasp AI :)
Start Hatching 🐣