Planning to build your own social networking website? Congrats! You have made a thoughtful decision. Social media is brimming with opportunities. Social media is one of the must-go platforms not only for the globally dispersed Internet users, but also for the digital marketers, and businesses of all sizes and types.
Let’s understand the rationale in details why it’s the best time to invest in social networking web development.
People Spend More Time on Social Media than on any other Platform
Social Media Ad Budget is on the Rise
Social media advertising budgets have doubled worldwide over the past 2 years—going from $16 billion U.S. in 2014 to $31 billion in 2016. It has a brighter prospect in the time to come as more and more people will come on the social platform. Social media spending in the U.S. alone is expected increase to $17.34 billion in 2019.
By the third quarter of 2016, Facebook made $6.8 billion through advertising revenue, up from $4.3 billion the year before. Other major social networking sites like LinkedIn and Twitter also had a similar growth trajectory. (Source: Hootsuite)
Social Networking Web Development Is Easier Now
So in what respect, it has gone easier. Well, the credit goes to the availability of required social networking website development skills in the market, cloud and server application platforms and environments, more programming languages and IDE choices, and low-code and model-driven application development platforms like Firebase and others.
Does it Mean Social Networking Web Development is a Child’s Play?
The answer is a big NO. The level of user expectation has went up several folds. Both consumers and businesses expect more from social networking websites regarding user-experience. They want to perform tasks in an easier and faster way.
Recall the extinct social networking platforms like Orkut and no-so successful ones like Mylife and Myspace. What made them fade against the popular ones like Facebook and Twitter. Obviously, it’s nothing but their inability to cater to the growing expectation of users and cope with the challenges imposed by the social media giants.
Hence, you need to up the ante. When you decide to get built a social networking website, it’s not the investment which is at stake but also your reputation as an entrepreneur. Moreover, today your website has little time to prove its worth because of the emerging new players.
A Word of Caution