What are the latest social media platforms

Who is displacing Instagram and Co.? Five new social media platforms

Anyone who deals with social media, be it private or business, knows that there are hundreds of different apps. And yet the broad masses seem to commit themselves to a few social media platforms such as Facebook, Instagram, YouTube, Twitter and Co. The popularity of these platforms will certainly remain unbroken for a long time. Still, there are a few new social media platforms that have caused quite a stir lately. The following five are particularly noteworthy and offer a lot of exciting new possibilities, especially for the marketing sector.

Mary Meeker's Internet Trends Report for 2019 confirms: Social media advertising is growing. And even faster than Google Ads. No wonder: content can be placed more precisely and target groups can be defined more precisely.

A look at the newcomers

If you deal professionally with social media, target group growth and online engagement, then it is only an advantage if you deal with the promising new platforms at an early stage. Especially if your target audience includes Millennials or Gen Z, of course. Anyone who observes how the new channels are developing can identify early on which ones are worth joining. Then you can experiment right from the start, you can find out how which content works on the new platform - and often without much competition. So that you don't have to try your hand at hundreds of apps yourself, here is a summary of the five most exciting new social media platforms for you. All five came out after 2016 (or have been completely rebranded). And all of them have already generated some attention lately, for example from well-known investors or a rapidly growing number of users.

1. House party: Have fun with video group chats

Launched in 2016, Houseparty already has over 20 million users worldwide. The group video messaging app, which calls itself a "face to face social network", enables chats with up to eight people at the same time. And of course, there are lots of stickers, filters and the like too. The app formerly known under the name Meerkat has generated millions of followers within a very short time and thus attracted a lot of attention. Since 2018, the platform has also offered an in-chat gaming feature, which, according to the company, is already being eagerly used: over ten million users have already played the quiz game "Heads Up". Houseparty offers Ad Space, and the app could also be used creatively for marketing in other ways: For example, a company could sponsor a “house party” hosted by an influencer. With these considerations, you should of course not forget that the much more popular Snapchat app has also had a group video chat function since 2018.

2. Lasso: The video underdog

Launched last year, Lasso now has over 70,000 downloads in the US. The direct TikTok competitor is not yet convincing with a huge number of users. Why does the app still have future prospects? Quite simply: it belongs to Facebook. The videos can already be shared as a Facebook story from the app, and the same integration is already planned for Instagram.

3. Caffeine: The livestream professional

A platform for live streams - initially not the latest idea. However, since companies like 21st Century Fox have already invested in the platform, which incidentally was designed by former Apple designers, it certainly has trend potential. Well-known events have already been broadcast via the platform. In addition to live broadcast, you can also use Caffeine to stream your computer or TV screen while you play. This makes the Twitch platform competition. Caffeine shows that live videos and video platforms are becoming increasingly popular - especially with younger target groups. Video platforms are super exciting for companies when content such as behind the scenes, Q & As etc. are relevant for their target group.

4. Steemit:Content plus cryptocurrency

This app can be compared to Reddit - but it has an interesting twist. Popular posts are rewarded by Steemit with so-called Steem Coins, a crypto currency. The current value of the Steem Coins and other well-known crypto currencies such as Bitcoin etc. can be tracked in the app. 50,000 monthly users (according to the company) are by no means a huge number - but the app is already generating some media buzz and is referred to as the leading social media platform in the field of cryptocurrency. In any case, it is worth keeping an eye on the development of the app. Because when crypto currencies have reached the masses, then this, in combination with social media, offers exciting new opportunities - especially in marketing.

5.TikTok: The star among the video apps

Although the app was only launched in 2017, it is now hard to ignore it: the app, which merged with Musical.ly in 2018, has over 500 million active users per month. With over 800 million downloads worldwide, TikTok has even left Facebook and Instagram behind. Briefly explained: You post short video clips on TikTok, which then run in a loop. As with Snapchat, you can add all sorts of gadgets such as AR filters, music, text, hashtags and so on. Lately, the “Challenge” option in the app has caused quite a stir. Many companies have already recognized the potential of TikTok and are using the platform: RedBull, for example, already has 2.7 million followers here.

Conclusion

Whether and how much potential there is in terms of marketing in the individual apps naturally ultimately depends on how the platforms develop. Above all, however, it is crucial whether the target group and the possible marketing measures fit the company. If so, they definitely offer exciting opportunities to get to know this target group better and to test campaigns and ideas in a playful way with few resources - in order to then invest more time, energy and money if necessary. Have fun trying!