With all of this Web 2.0 hype (still) going on, you might be in the mood to run your own social network. We will go over the pros and cons of running a social network and then conclude on running a social network.

Running your own social network

First, we will cover the pros and cons of running a social network, as compared to a blog.

Pros of running a social network

1. Social networks keep people interested. Note how huge ones like Facebook and Twitter are thriving. (Well, they aren’t doing as well as they could be profit-wise. But they still have millions of users). People want to socialize on the Internet. It’s the new trend, why not join?
2. Once you get going, you’re good. When you run a blog, you have to write posts very often to keep it going. With a social network, once things are started and your social network is solid, you can take time off. You should work hard to make things better, but if you need a break to just socialize you can take it.
3. Friends will tell friends about your website. I have been a witness to a friend of mine convincing another friend of mine to join a social network. They say things like Dude, get a Facebook already. and similar. This can happen with your social network. People will join simply because their friends have joined, and then they will get other friends to join. It’s exponential growth.

Cons of running a social network

1. It’s A LOT of work. Despite being able to take breaks (pro #2), it takes a lot to create a social network. You want your social network to be unique. You can’t just take a social networking software (such as Elgg), throw it on your server, and then expect to be the next Mark Zuckerberg.
2. It’s harder to profit using a social network. All of the huge social networks are facing this issue now. Who wants to click ads on Facebook? You’re already on Facebook, which you can do pretty much everything on, so why would you want to go somewhere else? Also, Facebook has extremely well targetted ads (for the most part). If people won’t click on well targetted ads, would they click on not-so-well targetted ads at all?
3. You have to compete with other social networks. Although there are people that use lots of social networks, you will basically have to ‘convert’ people from using a more popular social network to using your social network. This can be a gradual process.

Conclusion

Running a social network isn’t for the weak-hearted. It requires a lot of time and effort. There is still success to be found, though. You won’t become the next Mark Zuckerberg, but you can still do decently well by making a social network. Only opt to take this route if you know your stuff quite well, and if you are sure that you can take it. It may take guts to make it out alive.

Tags: Pros and Cons, Run Your Own Social Network, Social Networks, Web 2.0