The Future of Social Networking: How Games and Growth Strategies are Shaping the Landscape

The Future of Social Networking: How Games and Growth Strategies are Shaping the Landscape

Introduction:
In recent years, the concept of presence has become increasingly important in social networking platforms. Users no longer want to engage with services that lack presence or fail to evoke a sense of charm. While virtual reality (VR) excels in creating a sense of presence, traditional social networking sites (SNS) also possess elements of presence. For instance, platforms like LINE and Facebook utilize features such as read receipts or footprints to establish a shared space among users. As the trend of consolidating multiple apps into a single platform gains popularity, the significance of presence in SNS cannot be overlooked. However, presence alone is not enough to captivate users. This article explores the potential for games to surpass traditional SNS and discusses the role of growth strategies in establishing a strong user base.

The Power of Games in Social Interaction:
Games have the unique ability to provide high-quality entertainment while fostering social connections. The founders of Houseparty, a popular social networking app, expressed their concern about the performative nature of platforms like Facebook and Instagram. They believed that sharing photos solely for the sake of seeking approval diverged from the authentic social experience. According to them, genuine social interactions should occur in more private settings. This insight highlights the potential for games to enhance social interactions, as they offer a shared activity that brings people together. With this in mind, it is plausible that games may evolve into a dominant platform, surpassing existing SNS in the coming decade.

Building a Growth Strategy and Team:
To accelerate the growth trajectory of a company, establishing a growth team early on can be highly beneficial. Facebook, for example, launched its growth team when it had around 50 million monthly active users, experiencing stagnant month-on-month growth. This team played a pivotal role in propelling Facebook to its current status of 2 billion monthly active users and transforming the core Facebook product. However, it is crucial to resolve any retention issues before investing heavily in growth. Ensuring stable long-term retention and benchmarking against industry standards are essential steps. By continuously improving product value and proposition, a company can focus on building a dedicated growth team to enhance retention, acquisition, activation, and user retention.

Hiring for Growth and Setting Goals:
When it comes to hiring for growth, prior growth experience is a highly sought-after characteristic for team leaders. Interestingly, many growth experts were former founders themselves. The first growth hire is typically made when a company has around 15 engineers working on product development. Establishing clear goals is crucial for a growth strategy. Experts suggest setting goals that are challenging yet realistic, motivating the team to achieve them. A common framework for identifying channels is based on existing user behavior. Referrals tend to be the top channel within the first year of a company's growth. Running one experiment per growth engineer per week is common for companies at scale. Having a solid growth experiment dashboard from the early stages is vital for future success.

Actionable Advice:

1. Prioritize presence in SNS: Incorporate features that create a sense of shared space among users, such as read receipts or footprints.
2. Embrace the power of games: Explore opportunities to integrate games into social networking platforms, providing users with high-quality entertainment and fostering social interactions.
3. Build a growth team early on: Establish a dedicated growth team to accelerate the overall growth trajectory of the company. Prioritize stable long-term retention and benchmark against industry standards.

Conclusion:
As the digital landscape evolves, the potential for games to surpass traditional SNS and become dominant platforms is becoming evident. The power of presence in SNS cannot be underestimated, but games offer a unique opportunity to enhance social interactions and provide high-quality entertainment. By incorporating growth strategies and building dedicated teams, companies can propel their growth trajectory and establish a strong user base. The future of social networking lies in the fusion of games and innovative growth strategies.