Social Networks - Are they worth it?

I have a couple of ideas for 3 kinds of different social networks. Facebook (to me at least) is getting a little boring now, and I think that the platform can be changed a little to make it more exciting for the end user.

Are social networks dead now, or do you think there is still a business to be made from them?

 

Unfortunately if you are not using social media you most likely are not going to get the much needed business. Social Medias can get boring of course as they pretty much run their course in my opinion. I think that revamping things is always good as long as it does not mess something up that was working. I think that when these social medias become over saturated it does not necessarily mean high quality. I guess when you become disinterested in a certain avenue for social media you find something bigger and better. There is always that. You just have to look. Sometimes things are formulating in the background that not a lot of people know about yet. Social media is the quickest and viral way of getting it in front of your potential clients.

 

They are just for fun unless you own one of them.

 

I think the only people making money from social networking sites are the owners AND people selling information about making money on them.

 

The ideas are firmly in place. And obviously part of that idea is to set up and run a different kind of social network. I have "dipped my toe" in the social network niche once before, so I do have some knowledge of how to set them up. The elgg platform is nice to work with, so I will be using that.

Just looking for opinions on whether the market is too saturated now. I mean what would it take to make you sign up for yet another social network?

 

Well, most of their users are looking for fun for free or simply anything for free. Most of them have too much free time to spend on internet for fun. So, they are not the professionals who can take a financial action. You may receive some traffic from those sites but you can't expect a notable increase in your sales or ad revenues.

But if the quantity is considered, they have millions of users for sure. It can only matter if you own one of those social sites. Even if an average user generates $0.001 daily, you can still make millions at the end of each month.