Is Social Networking space too crowded???

I was in a discussion with my friend Kaviraj, few days back. He was saying that many investors or the knowledgeable people of the web, are already saturated with the social networking websites. They are not taking any interest in new social networking ideas. I would not blame them for this, however, I do not agree to their views completely either.

Kaviraj and myself, had met online and have been in touch since then. We have one thing common between us, we both want to venture out and we both have got ideas on social networking websites.

The moment I mention the term social networking, you would say, we already have so many social networking websites, do we need more. If the answer is No, then it could not be more wrong.

Although we both have an idea of social networking website, but both the idea completely different from each other. If there is any similarity between our ideas, then it is the term Social Networking. Well I am using this term due to lack of a better word. But we don’t call our websites as just social networking. We call it as Beyond Social Networking. Sounds funny does not it. Kaviraj has started working on his website Areapal and he is looking for an early July launch. About me, I am still estimating and evaluating the right company to work on my website and also looking for angel investors if possible.

Well, let me come to the main purpose of this post now. What I am trying to say is that although the social networking space is too crowded, there is still a lot to happen in the social networking platform. I will try to explain my views with some examples.

Web Search as a concept is existing since for more than 2 decades now. Until Google came, all the keyword searched landed up in a bunch of porn websites. It was in the year 1996 that Google came and changed the algorithm of web search. Did it saw the death of web search. No, in fact it was just the beginning. Even today there are many different search engines coming with constantly new algorithms and redefining the way we search. Once such example is guruji.

Secondly, the power of networking is much more than just making friends and having fun. Every business in this world is a business of networks. Even small vendors have got their own network of suppliers and customers. This network helps these vendor to earn enough to give him food and shelter. It is this same network which helps them grow and expand. Even a multi million dollar business runs on a network of raw materials providers, man power providers, man power, buyers and customers. Each and every business is busy to expand this network and hence expand their business and grow.

Thirdly, we are still in a phase where blogging is still in its infancy. Blogs are still evolving and every day we find blogs redefining newer things in the day to day life. Blog is a subset of social networking. However, blog has captured the imagination of many and has seen many individuals leave their job and take up blogging as a full time profession. We are yet to see this happening in social networking platform. However, social networking is different from blogs and it needs to be handled in a different way.

These are my three main reasons why I believe there is a lot of innovation still to come in the social networking platform. What we are having now in the name of social networking is nothing but just a trailer of things to come. In the next few years, we would see social networking evolve into a complete networking platform and will go beyond just making friends and having fun over the internet.

I certainly believe that YCult will change things in a more positive way and we might just have a new word replacing the highly limited term social networking. Some thing like YCulting may be. :)

Comments are welcome.

Credit Card Marketing Tricks

Let me first apologize for straying away from the purpose of this blog. However, I could not resist this.

I got a call from a lady who said to be calling from Citibank. (No, I am not going to mask any names here, however, I don’t remember the name of the lady. :) ) This was what was offered to me. A pre-approved platinum credit card on my name, looking at my credit history. I am not surprised at this offer. What caught my attention was her next line. “As today is our bank’s anniversary, so we are making this offer to a selected few only.”

What was surprising in this? Well, I had heard this same line a few months back.

I could not hold myself any more and asked her “how many times in a year does your bank has anniversary?”. This took her by surprise and she started defending herself. She tried her best to make me believe that she is calling directly from the bank and not from any marketing agency. And this is no simple offer as I would get a minimum balance of Rs.1.5 lakhs on my credit card.(what i would do with that limit is a different matter.) I did not fall for any and she was disappointed.

Now let me come to the point, these plastics have become so accessible to a salaried employee and it forms one of the chief reason for financial problems. (I am sure you understand what I mean by this.) Secondly, does the bank give these marketing agencies these permission to say they are calling from the bank and not from any marketing agency. If this is so, the RBI has some work to do here. Thirdly, anniversary, I mean how many times does a bank has its anniversary. Common think of a better marketing technique guys. Don’t you guys have any innovative methods for marketing. If not, then ask me, I am sure I can give you a half a dozen good ones.

Just for the info, I am a very good user of credit card and try to take advantage of all the offer available on credit cards. I maintain a good payment history on 5 cards presently and I am not sure if I can handle another credit card.

I have not registered myself in the Do-Not-Call registry coz I want to know what’s going in the industry which I am following very closely.

Comments are welcome.

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