As Karissa Bell reported on Mashable recently, Vero is moving up the most downloaded charts for social media related apps.
I am thinking that Vero just might be the first major social media platform in a few years to seriously take on the likes of Facebook, Instagram, and Twitter. We are seeing Snapchat users dwindle (Apparently Kylie Jenner had something to do with it?) and there is room for another major social media network in the game.
Vero’s founder, Ayman Hariri, son of former Lebanese Prime Minister Rafik Hariri has made a few things very clear:
- The platform is ad free currently.
- The platforms algorithm is not going to be like Facebook or Instagrams where it displays content based on edgerank or previous engagement, it’s going to show your “friends” latest content.
- The platforms revenue model is “most likely” going to be subscription based and users will have to pay a fee to use it eventually.
- The first 1 million users will get the app for free.
Why do I think the app is going to succeed?
It’s all about number 4 in the list above. I don’t even need to talk about how cool the app seems and how innovative it’s photo sharing mechanisms are… It’s a race to that first million.
A few years back we saw LinkedIN do something very similar in terms of physiologically increasing usage of their platform. LinkedIn sent out messages to their “top 5% users with the most followers” (or something similar) and this provoked tons of engagement. People were suddenly logging into their linkedin accounts and bragging, tweeting about their elite status, etc. But what they failed to realize is that though they felt like they were part of a small group of elite linkedin users, they were actually a part of a HUGE group of people. Hundreds of thousands probably. So in reality they weren’t that special, but LinkedIN did a good job of making them feel special.
Hariri is doing exactly the same thing. It’s all about that first million! A Million people! That’s a lot of people! And they are all now in the race to get their free account before the subscriptions kick in.
What a great acquisition model he’s come up with.
- Build a social media network that actually works and looks great.
- Tell people that its going to cost them money if they don’t sign up now.
A million people utilizing the platform will create advertising opportunities in itself, let alone how many businesses and people will then jump onboard and pay the subscription fee with hopes to connect with those first million.
I’m on there.
Look me up.