{"id":17092,"date":"2021-05-26T13:34:10","date_gmt":"2021-05-26T13:34:10","guid":{"rendered":"https:\/\/thesocialelement.agency\/us\/rise-of-exclusive-social-media-networks"},"modified":"2021-05-26T13:34:10","modified_gmt":"2021-05-26T13:34:10","slug":"rise-of-exclusive-social-media-networks","status":"publish","type":"post","link":"https:\/\/thesocialelement.agency\/us\/rise-of-exclusive-social-media-networks","title":{"rendered":"The Rise of Exclusive Social Media Networks"},"content":{"rendered":"\n
Social media platforms like audio platform Clubhouse and photo sharing app Dispo made headlines this year for their exclusive, invite-only membership model. <\/strong>Their exclusive nature makes membership into these apps a coveted status, with Clubhouse invites listed for up to $1,000 on Ebay. Is it all just for hype, or is there real value in social media exclusivity? Where do brands fit into the equation (if they can snag an invite)?<\/p>\n\n\n\n Exclusive social media platforms tap into the scarcity effect, or the cognitive bias that makes us place a higher value on things that are scarce or limited. While everyone and their mother (pretty much literally) has Facebook, the fact that you have to be invited to join a social platform automatically ups its \u201ccool factor.\u201d The pandemic put a pause on exclusive spaces in the physical world: think VIP sections, fashion shows, and first-class seating. <\/p>\n\n\n\n Mainstream social media platforms, most notably Facebook, have faced public and legislative criticism for how they mine and sell user data. A recent survey found that more than two-thirds <\/a>of adults report being concerned about the privacy and security of Facebook. The appeal of certain exclusive social media platforms is that they are less likely to collect user data to then use for targeted advertising. Of course, selling user data for advertising purposes is how Facebook became the social media giant they are today. If exclusive social apps want to maintain their users\u2019 privacy, they will need to figure out a different way to monetize their platform.\u00a0<\/p>\n\n\n\n While it feels like everyone\u2019s had a Facebook account forever, it started off being exclusively available for Harvard students. It then opened up to Ivy League students, and then to the general public. It\u2019s likely that social media apps that start off exclusive will eventually follow in Facebook\u2019s footsteps and eliminate barriers to entry. There are many benefits to a large user base: greater awareness, more feedback, and, perhaps most importantly, greater reach for sponsored content. <\/p>\n\n\n\nThe FOMO factor<\/h2>\n\n\n\n
Exclusive social media platforms may have met a desire for \u201cin-crowd\u201d status in a time when interactions were mostly taking place online.<\/h4>\n\n\n\n
The potential for increased privacy<\/h2>\n\n\n\n
Is exclusivity sustainable?<\/h2>\n\n\n\n
Even if exclusive social media apps don\u2019t collect user data to show targeted ads, they may eventually allow brands to buy sponsored content. <\/h4>\n\n\n\n