Social media is now an ingrained part of our lifestyle and has been steadily evolving and expanding over the years. We all know of Facebook's success and how they toppled Myspace. We've seen the rise of Twitter, Instagram, Snapchat, etc.
Two companies are attempting to become the next big thing and send Facebook packing. What is their value prop to users? Get paid for using social media.
Newcomers with Loose Checkbooks
The two companies who want to end the scourge of pro bono social media are Bonzo Me and Bubblews. They believe that because social media users are content producers, they should be compensated accordingly.
"I just feel like everyone on social networks has been taken advantage of for long enough," says Michael Nusbaum, creator of Bonzo Me. "Facebook has been making a ton of money, and the people providing the content aren’t getting anything."
Bonzo Me promises to pay users 80% of every advertising dollar they take in. Depending on how much content you produce and how popular that content is, you can gain larger revenue share.
Bubblews bases compensation on how many times each post is clicked on, liked, shared, etc. However, these interactions will likely only generate a penny or so, therefore reaching worthwhile levels might be difficult for the average user. Plus, Bubblews only pays users in $50 increments, so unless you create a viral post, it will take a while before the first paycheck comes through.
Will These New Models Gain Traction?
We've discussed the psychology of social media before, including a recent post showing that we might be getting bored with social media.
But are any of these trends actually due to users being upset by the fact that they aren't receiving some of the profits? There is little evidence to suggest that this is the case.
And, can social media be genuinely "social" if it is driven by profits? Users will obviously join for the allure of money, and therefore they will likely be motivated to tailor their content to optimize revenue intake. This could easily dilute the content and dissuade users from joining.
Are Bonzo Me and Bubblews at the forefront of the next big social media trend, or will they be just a small blip in our ever evolving social media landscape? Let us know what you think in the comments below!