Facebook is one of the main reasons why we can see so many social media platforms today. Mark Zuckerberg’s idea was to execute it quickly by keeping the product as the primary focus, rather than thinking about the business or shareholder value. The number of people using Facebook all across the globe is increasing rapidly from month to month. In Quarter 3 of 2018, Facebook recorded 1.8 billion active users in the United States, the United Kingdom, India, Canada, Australia, and other countries in the world.
But what if you want to make your own social media platform? What resources do you need to make it happen? Which are the necessary steps you have to follow? You will find all your answers in this article, make sure you do not skip any step since each and every one of them will play an important role in the mobile and web application development of your product.
1. Know your target audience
You should know where you are aiming or else you are just relying on your luck that the product will work. It is also important to identify the current needs of your target audience, this can be answered by doing the market research thoroughly. Once you have got the hold of the likes and dislikes of your market you are good to go to the next step.
Here you will describe the features which come with the product. How are you different than other social media platform? What would make the user hooked to your app/site? This is one of the most important points which should not be ignored because it could play a vital role in deciding the success of your product.
3. Growth Strategy
There are two ways in which you can plan out a strategy based on your user base. Either you can start small and expand later or go big by launching the whole product to the mass audience. The start small strategy is useful when you are introducing an innovative product on the market. Twitter when for the go big strategy and today is one of the most famous social media platforms. Whichever strategy you choose, make sure you are taking a calculated risk.
4. Development checkpoints
There are three things that you need to worry about – capital, platform, and the database volume – traffic estimation. You are going to need at least $100,000 to create a platform like Facebook. It is the minimum you will need because as you add new features, the cost will increase. The app like Instagram had the cost of development was $300,000, while Facebook had a development budget of $500,000.
At this time, you also need to decide whether you want to make a website, a mobile app, or both. To come to a decision, you will have to do market research to know what your target audience wants. It is always good to go for a mobile app because no one has the time to open their computers or laptops to check social media.
You won’t be able to estimate the accurate amount of traffic you will receive but getting an estimate will help you select the database. You can PostgreSQL or MySQL to create structured data.
5. UX and UI design
In this step, you have to decide and design of the chat options, the basic design of the platform, News Feed, Comment Section, Social Groups, Connect Buttons, and Setup Page. Making the UX design is difficult, so concentrate on giving your users a pleasant experience.
You will need to build a promotion strategy, develop lead generation tactics, use different forms of social media for promotion and marketing, and find a name for your project.