Feeds:
Posts
Comments

Posts Tagged ‘revenue’

Have you ever paid for a professional account on LinkedIn. Jesus, talk about expensive. A small account – which really doesn’t offer much more than the free account – is $20/month. Making this expense $240 a year. Not bad.  But not really worth your money.

But while we’re talking about things not worth your money, the professional account costs $200/month. Yup, math wizards are now gasping at the $2,400 a user pays for a professional account. I mean good god, I do not have that much money to use a simple service.

For those unfamiliar with LinkedIn, it’s a social network dedicated to allowing business professionals to build connections and introduce your current associates to new people.  Basically, everything you do at a conference. You can upload your pic, current position, experience, skills, resume, and connect to third party apps.

The golden $200/month professional account (as well as the smaller paid accounts) allows you to send messages to people….cool? Er, and the professional account let’s you only send 50 of those per month.. Use ’em wisely. Plus you get more search results when looking for people…..yay, more search results…. And send requests for introductions.

So, actually, the features are pretty sh***y at $200/month.

But there’s something else going on. Some of you might have guessed it.

Perceived value.

If you’re a Fortune 500 business person, why on earth would you use Facebook? There’s no value to it, or I should say no gates to control who gets prominence.

So, there are all these business people, a lot of them unfamiliar with social networks in the first place, who are willing to throw their money at LinkedIn because it costs some coin.

By all means, it’s inferior to Facebook’s ability to control privacy and integrate with 3rd party applications that assist business networking. But Facebook is free, has a bunch of teenagers, and has that goofy bumper sticker app. LinkedIn, on the other hand, is somber and costs money.

This is why I’m starting my social network, RICH AS F*CK. It’s open to the first 3 people who give me a million dollars each. And premium features include the abillity to message the other two members of this super exclusive network. Anybody wanna sign up?

Advertisements

Read Full Post »