Sunday, March 21, 2010

Google Buzz: Social Media Revenue Opportunity?

Right now, social media companies are trying to figure out how to get revenue to continue operating and providing great tools for their users. One idea is going to paid subscriptions. Of course, the crowd uproar begins with the mere thought of that, so this may not work for individual applications. However, I think Google is heading in the right direction with Google Buzz. If it can be further defined by its users, and continue evolving, it has amazing potential because it will be enhanced by the fact that many individuals and organizations are using one or more of Google's existing tools, such as Analytics, Local, Adwords, Alerts, Apps, Webmaster Tools and many more, all of which help with web marketing and PR goals.

I think where Twitter, Facebook and other social networks may struggle to find a solid revenue model to sustain them, Google Buzz will have more to offer overall, and be able to charge a subscription fee. They will actually be able to offer an enhanced social networking experience that ties into email (Gmail), video (YouTube) and so on, as well as Facebook, Twitter and other web applications, while also linking together the Google tools you're using already. I would be happy paying a small subscription to access all of the services they offer now, but even more tightly integrated, and having the social networking piece right there in place.

Of course, to make that work, the other social networking platforms, like Twitter and Facebook, would still need to survive if they weren't directly incorporated into Google Buzz, so at some point there would need to be some collaboration and friendly play, or something more.

Labels: , ,