Pheed has become the latest social network to gain traction by combining elements of Twitter, Tumblr, Instagram and Facebook with the endorsement of key celebrities. Users can follow others and have others follow them as well as share images, videos, songs and text. People can comment on anything a user posts and like, dislike and bookmark content from others.
The element that sets Pheed apart is its vision to be a platform for celebrities to deliver premium and exclusive content to users for a price ranging from $1.99 to $34.99 per month. Content is key.
Celebrities including The Game, Miley Cyrus and Paris Hilton have already signed up. The majority of their content is free, but the option to charge is on the table. Miley Cyrus posted an audio clip, tweeted about it and in less than one second 10,000 people went to Pheed to listen, proving the power celebrities may have in building the platform.
Pheed may just be a flash-in-the-pan platform that gets a lot of conversation and no substance. That will depend upon how celebrities adopt the platform and how many of their fans follow them over.
But that’s not the point.
The Opportunity for Premium Content
Pheed appears to be a bit of a cash grab, and I have doubts around how much users will be willing to pay for content. Still, the platform does show the opportunity for premium, valuable content.
The web is full of a lot of noise, and people can waste a lot of time cutting through the clutter to the nuggets of content that are truly valuable. It represents a big opportunity that most brands have found challenging to act on—creating content consumers are seeking out.
Brands that are able to identify the questions and unfulfilled needs that they can deliver on through content are sure to stand out in the social space. For example, a financial services brand could offer online classes; a foodservice brand could provide how-to guides for launching a new restaurant and so on.
Initiatives like that require a mindset shift from quantity of interactions to quality of interactions. When a brand becomes a resource for fulfillment beyond a product or service loyalty isn’t far behind.
How Are You Delivering Value?
Whether or not Pheed takes off or is just another platform that goes by the wayside, brands should take a cue from it and ask if the content they’re putting out there is valuable. Would your customers actually pay for it? Most brands will never (and should never) charge for their content, but hopefully, their customers appreciate it, get value from it and would miss it if it went away.
Pheed was founded on the idea of great content. Brands should adopt the same idea when it comes to their online channels.