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By now, you've surely heard the
news about Vines death. While there
have been multiple social media
platforms that have come and gone,
none seem to have had quite the rise
and fall that we have witnessed with
Vine. Observing the collective
reasons to why a successful social
media platform like Vine could fail
provides valuable insight for both
aspiring social media sights and
businesses alike.
Vine launched in 2013,
three years after Instagram,
which started in 2010, and
by 2016 the platform has
been terminated. Let's take
a look at the warning signs
and what we can learn from
them.
Vine was initially designed to be a video
format for Twitter-style updates.
However, their market quickly attached
to the creative aspect.
Your Take-Away:
The market is the market, it doesn't want
what you want, it already has its own
priorities. As a business, your responsibility is
to gain a clear and unbiased understanding
of what your market wants from your product
or services.
Initially, Vine had the competitive advantage in that
they were the only social media platform that focused on
video. However, it didn't take long for that to change, and
soon every major social site offered video. Vine had failed
to move quickly enough to keep people on their platform.
Your Take-Away:
While it was possibly inadvertent, Vine ended up with a
segmented market whereas Instagram had mass market
appeal. If your business is intentionally targeting a niche
market, you have to make sure that your offering is unique
enough to prevent customers leaving for a bigger brand.
Social media is a content platform,
like the newspaper, radio, and television. All
of those previous platforms have key players
that keep us coming back for more. While
Vine was very successful at creating
celebrities initially they failed big in several
ways.
Your Take-Away:
Your team is your greatest asset. You may have
key players on your team that are being
overlooked, if you don't give Michael Jordan the
ball, then you’re not going to win games.
There are many valuable insights that
can be taken away from the rise and fall
of Vine. At the core of every issue is
leadership. With the right team in place
moving fast, taking risks, and gaining
painful feedback isn't always as difficult.
Knowing what sets your company apart
and strategizing effectively are your
biggest responsibilities, and the insight
you may need could be closer than you
think.
Ingrid Griffin, Internet Marketing
Consultant. Blue Dress® Marketing, an
Internet Marketing Company headquartered
in Knoxville, TN. Internet Marketing
Developed, Implemented and Managed to
Full Circle! Organic Internet Search Engine
Guru. Turn Key Internet Optimization
Programs Placing You Everywhere and
Anywhere You Need to Be Online®
865-951-5887
