Social Media as SaaS

Social media platforms are constantly evolving to meet the changing needs of users. From introducing new features to acquiring social media giants by industry leaders, the landscape of social media is continually changing.

What's happening

Social media companies are moving to SaaS and subscription-based models.
Meta was launching a new paid verification service called Meta Verified, including a blue checkmark and increased reach across its platforms. Twitter Blue, launched in November 2022, is another subscription service that verifies accounts with a blue checkmark for $8 per month.
Social media companies have searched for new revenue sources as online advertising slows.
SaaS businesses can leverage social media marketing to increase brand recognition, attract new customers, and retain existing ones.
SaaS businesses are best suited to Twitter, Facebook, and LinkedIn.
Facebook's Meta for Business can help identify the interests and demands of your target audience so that your SaaS products can have content tailored to suit the audience.
Geo-targeting your SaaS social media ads can help penetrate a new market and provide your sales funnel with leads.

Elon Musk's Twitter Acquisition and the Introduction of Twitter Blue

One of the most significant developments in recent years was Elon Musk's acquisition of Twitter. This led to the introduction of Twitter Blue, a premium subscription service that offers early access to select features and a blue verification badge. While some features like Half Ads and Custom App Icons are still in development, Twitter Blue promises to elevate the quality of conversations on the platform.

The Blue Verification Badge

From Public Figures to Subscription Services

The blue verification badge has traditionally been reserved for public figures like actors, musicians, and journalists. It verifies that the account is active, notable, and authentic. However, with the introduction of subscription services like Twitter Blue, the blue checkmark may also indicate that the bill has an active subscription. This trend will likely continue as social media platforms seek new revenue streams.

Potential Implications of Subscription Services on Social Media

While subscription services like Twitter Blue offer benefits to users, they also have the potential to exacerbate existing inequalities on social media. Only those who can afford the subscription will have access to the additional features and benefits, creating a divide between those who can and cannot pay. This could result in only certain voices and perspectives amplified on social media while others are left behind. One potential solution to this problem is for social media platforms to offer basic features and benefits to all users for free while reserving more advanced features for paid subscribers. This would ensure everyone has access to the essential tools to participate in social media while allowing for differentiation among users willing to pay for additional benefits.

Potential Brand Implications of Subscription Services on Social Media

Subscription services like Twitter Blue and the blue verification badge on Instagram have the potential to impact brand reputation significantly. In the past, the blue verification badge was reserved for public figures and established brands, providing added credibility and authority.
Now available through subscription services, the badge may lose some value and prestige.
Similarly, the popularity of Twitter Blue could lead to a situation where only the most well-funded and well-known brands can gain traction on social media, further solidifying their dominance. However, brands that can leverage Twitter Blue and other subscription services effectively may be able to differentiate themselves from their competitors and create a more loyal following. It remains to be seen how these changes will impact the broader social media landscape and the brands that inhabit it.

Features Offered by Twitter Blue

In addition to the blue verification badge, Twitter Blue offers several features to enhance the user experience.
These include Bookmark Folders, Themes, Custom Navigation, Spaces Tab, Top Articles, Reader, Undo Tweet, Prioritized Rankings in Conversations, Longer Video Upload, Longer Tweets, and SMS two-factor authentication. While some of these features are still in development, they promise to make the platform more personalized and engaging.

Further Changes and Innovations in the Social Media Space

As social media platforms evolve and innovate, we expect to see further changes and new features introduced to meet users' needs. Introducing subscription services like Twitter Blue provides a glimpse into the future of social media, where users can customize their experience and access additional features for a fee. It will be interesting to see how other social media platforms adapt and evolve their offerings to remain competitive in the rapidly changing social media landscape.