Let’s roll back to 2004 when Facebook was first launched, back then it was designed as a social media tool for Colleges in the US. Once Facebook started to gather momentum it was only then that people started to realize its potential. Just think of the last website you visited, did it have a “like” button for Facebook? Of course it did they all do! Let’s not forget Microsoft tried this tactic to track people’s usage of websites, and their bid was rejected yet here we are in 2012 with Facebook being in my view enormously advanced in tracking what its members do, where they go and what they like. The integration with Facebook has just become the normal.
Now it sounds like I am building up to bring down a crushing blow here, but I am a Facebook member and I get the social media revolution, I would argue that a “Corporate Twitter” should replace email as it is aging and in my view is a very old school way of thinking. Firstly let’s think of the power that Facebook has, when they do “Big data Analytic” they can gain so much information about you and your behavior Social media is about our end-user experience but it is as much about potential buyers from Facebook knowing about your behavior.
One of my favourite examples of this is “Nike” running app on most phones, you get the “Nike” app and trackers for your shoes and then you can compete with 1000’s of people around the world posting your times to the boards and also Facebook. Now I am a huge fan of this, this in my eyes is what Technology should allow me to do which is reach and be able to do things I never have before. Okay so lets consider the value of this data, to us this is fun and competitive but behind the scenes is big business, if your phone is tracking your position, distance and speed then it is easy to say that they will be able to figure out your route and all the details about it.
So lets imagine you are a running shop owner, you want to open a new shop in Manhattan NY, how valuable would the collated data above be to you? If they could tell you how many people ran past a plot of land you were interested in, how many people were running in NY, where they stopped etc. The answer is invaluable, that gives you market data you would have never obtained before!
Now that to me is pretty cool. So to give this its official name it is Big Data, which in my view is analyzing information to find patterns and behavioral characteristics, this is what large computing is good at! How do you think Amazon know what to suggest when the pop up that little ad saying “people who bought this also bought”? The market for this is huge at present and is only getting bigger and bigger as companies have to become smarter when tackling consumergeddon! We all have choice, we all have so many resources at our finger tips. Big Data is what is understanding our behaviour, big data for me was not clear when first talked about, now I see this being used everywhere especially in social media.
So my very long point is, we today are creating so much data from social networking, locations, applications, online gaming……the list goes on and on. The one current theme though is that this is mostly mobile data.
The mobile market has developed so much, I remember when I first got a phone with a Camera and to be honest I thought “Big deal” but I did not grasp what was in front of me. The problem wasn’t the camera on the phone rather the software underneath, the only way I could show people was to put it on my computer, MMS (too pricey) or show them on my phone. Then Facebook came along and changed this game completely. My Facebook news feed is literally full of people posting photos if they are out, sightseeing, parties, what they are eating and all manner of other things. I can certainly not recall having that much visual content available to me at all! The same can be said about Twitter.
So finally on to Instagram, I do not know what you have seen in the news but as Facebook now owns Instagram they have amended their terms of service to include this “”To help us deliver interesting paid or sponsored content or promotions, you agree that a business may pay us to display your username, likeness, photos, in connection with paid or sponsored content or promotions, without any compensation to you”. Now alarm bells should be ringing, we all love and use Instagram, it’s an online photo collaboration tools with API tie in to Facebook and Twitter (although no more now). So imagine the content that is on there now! Huge amounts of value to be sold to someone somewhere.
So we have all took photos, edited them and shared them and now all our activities can be sold, this for one feels different to me, fair enough with things like “Nike” above etc I can understand the way that businesses will want and pay for that information. But what these new terms are doing is selling content that you have created. I must not be alone in thinking that this is not really what social media is all about, they could be personal photos etc.
So I threw this idea to my friend the other day “Could we see the next age of social media coming which is subscription based?”, now we both agreed that we are already there just look at LinkedIn. We also banded about the notion that “If Facebook was a subscriptions service would you pay”. Now for me this is a difficult one, as I started this blog I wrote about Facebook’s inception in 2004, imagine if I had turned around to you in 2004 and said “One Seventh of the world’s population will have a website page by 2012”. I don’t have to describe what you would think of me, yet here we sit with 1 Billion subscription users to Facebook and users that login several times a day and update\maintain their page.
Now imagine if that was taken away from you now, and this moved to a subscription. I would argue that people would pay for this as Facebook is now habit and we socialize through this medium. Or the other way of thinking is if Facebook remained free but sold all your images that you post, do you think they would retain members?
I think that we are at critical mass with this social media at the moment, I think we could soon see the horizon change. Companies such as App.net have spawned are a paid social media experience with none of the advertising so already social media has tipped over the edge in to a paid service.
What if I was to break the mold here and say imagine 8 years from now would we be saying “Remember that Facebook thing?!.
Just my thoughts….