Of all social networks one stands out. Not because of the number of members, growth rate or humorous content.
The professional networking site LinkedIn offers some free services, but users pay for a premium level with more features. With only 40 million users, LinkedIn is significantly smaller than Facebook, Twitter or MySpace, but it’s making a profit.
It’s a model that works. But can it work on other social networks?
According to new research from The Nielsen Company nearly eight out of every ten (79%) social followers would no longer use a website that charges them, presuming they can find the same information at no cost.
So what’s the owner of a social network site to do? Sell advertising. Of course!
Marketers are gravitating to social sites. It’s hip, current and a way to connect. But social followers want something in return – like a good deal. Being promotional isn’t always a bad deal but playing the low price game is a slippery slope. I’d recommend staying away from it.
eMarketer reported Monday that “deals aren’t the only thing” that social followers want. That’s a good thing!