With Facebook facing a lot of heat lately for selling users data, it is only a matter of time before a new competitor steps in to fill humanities modern need for online attention whoring.
I thought some of our more Entrepreneurial minded members may enjoy knowing there are in fact low cost methods to enter the market.
1) Purchase Basic WordPress Hosting from GoDaddy.
Initial Cost: $3.99 Per Month + Free Domain (For 1 Year)
Benefits: GoDaddy Installs and Connects WordPress to your Domain for you.
Long Term Cost: $19.99 Per Month and Up
If your Social Network site takes off, you may need more Storage, Bandwidth and don't forget your yearly Domain Renewal Fee.
2) Get BuddyPress WordPress Plugin
Initial Cost: Free
Benefits: This Plugin has the Potential to turn your Simple Wordpress Website into a Fully Featured Social Network.
At the most basic level, you can fully implement Activity Streams, Friendships, Groups, Notifications and Private Messaging at no cost.
Long Term Cost: Average Cost is $50 One Time Fee
Although BuddyPress is a 100% Free WordPress Plugin, it may not be the most aesthetically pleasing right out of the box.
There are many Premium Themes built specifically for the BuddyPress Plugin, that can be purchased to spice up the visual appeal of your Social Networking Site.
3) MobiLoud, Mobile App Service (Android & IOS)
Initial Cost: $99 Per Month
Benefits: MobiLoud is a Service that converts your WordPress + BuddyPress Social Networking Site into a Mobile App for the Android & IOS Platforms.
They do all the Heavy Lifting from App Creation, App Approval on the Android & IOS Store, Publishing on the Android & IOS Store, adding Monetizable Ads to your App, to ongoing Updates and General Maintenance.
Long Term Cost: $199 Per Month and Up
As your Social Networking Site grows you may opt for additional Mobile Graphic Design help, White Labeling your App for Resale and other Miscellaneous complex upgrades not covered in the lower pricing tiers.
Using the above Method (WordPress + BuddyPress + MobiLoud) your looking at an all-in cost of approximately:
Social Network Site ONLY: $3.99 Per Month
Social Network Site + Mobile Apps: $102.99 Per Month
Premium Themed Social Network Site + Mobile Apps: $102.99 Per Month + one-time $50 (average cost)
Overall, for the Seasoned Entrepreneur, I believe you'll be pleasantly surprised that the initial Overhead is pretty low.
Another great benefit is that you are building an E-mail list with every User Registration.
If you have any background in Affiliate Marketing - you know this is a gold mine!
My personal tests have shown that in order to get the ball rolling on User Registrations, you should start by picking a Small Unique Niche that you know well.
I thought some of our more Entrepreneurial minded members may enjoy knowing there are in fact low cost methods to enter the market.
1) Purchase Basic WordPress Hosting from GoDaddy.
Initial Cost: $3.99 Per Month + Free Domain (For 1 Year)
Benefits: GoDaddy Installs and Connects WordPress to your Domain for you.
Long Term Cost: $19.99 Per Month and Up
If your Social Network site takes off, you may need more Storage, Bandwidth and don't forget your yearly Domain Renewal Fee.
2) Get BuddyPress WordPress Plugin
Initial Cost: Free
Benefits: This Plugin has the Potential to turn your Simple Wordpress Website into a Fully Featured Social Network.
At the most basic level, you can fully implement Activity Streams, Friendships, Groups, Notifications and Private Messaging at no cost.
Long Term Cost: Average Cost is $50 One Time Fee
Although BuddyPress is a 100% Free WordPress Plugin, it may not be the most aesthetically pleasing right out of the box.
There are many Premium Themes built specifically for the BuddyPress Plugin, that can be purchased to spice up the visual appeal of your Social Networking Site.
3) MobiLoud, Mobile App Service (Android & IOS)
Initial Cost: $99 Per Month
Benefits: MobiLoud is a Service that converts your WordPress + BuddyPress Social Networking Site into a Mobile App for the Android & IOS Platforms.
They do all the Heavy Lifting from App Creation, App Approval on the Android & IOS Store, Publishing on the Android & IOS Store, adding Monetizable Ads to your App, to ongoing Updates and General Maintenance.
Long Term Cost: $199 Per Month and Up
As your Social Networking Site grows you may opt for additional Mobile Graphic Design help, White Labeling your App for Resale and other Miscellaneous complex upgrades not covered in the lower pricing tiers.
Using the above Method (WordPress + BuddyPress + MobiLoud) your looking at an all-in cost of approximately:
Social Network Site ONLY: $3.99 Per Month
Social Network Site + Mobile Apps: $102.99 Per Month
Premium Themed Social Network Site + Mobile Apps: $102.99 Per Month + one-time $50 (average cost)
Overall, for the Seasoned Entrepreneur, I believe you'll be pleasantly surprised that the initial Overhead is pretty low.
Another great benefit is that you are building an E-mail list with every User Registration.
If you have any background in Affiliate Marketing - you know this is a gold mine!
My personal tests have shown that in order to get the ball rolling on User Registrations, you should start by picking a Small Unique Niche that you know well.